Alibaba Group eyes 1 billion users within five years

Asia .
Alibaba Group eyes 1 billion users within five years

Inside Retail Asia: Alibaba Group says it aims to serve more than 1 billion consumers and exceed RMB10 trillion gross merchandise volume by 2024. Unveiling the Chinese tech giant’s five-year plan to the investment community, Alibaba Group executive chairman and CEO Daniel Zhang said the company remains “true to the mission it laid out over 20 years ago” of making it easy to do business anywhere. He said empowering merchants with data technology and cloud intelligence is essential to fulfill this mission in the digital era.

“Today, we are creating and fulfilling new consumption needs with a view to focus on growing our digital consumer population as a whole. We can unlock tremendous synergies between our various consumer-facing businesses to convert and harvest incremental customers across the Alibaba digital economy,” said Zhang.

In the year June 30, Alibaba Group had 730 million annual active consumers in its China consumer business, which includes its China retail marketplaces, digital media and entertainment, as well as local consumer services. Full original article:



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