Alibaba turnover continues its meteoric rise

Chinese eCommerce group Alibaba‘s first quarter turnover grew more than expected, almost 60 % higher than last year’s first quarter.

Mobile devices generate half of turnover

Alibaba’s total first quarter turnover grew 59 % to 32.15 billion yuan (4.3 billion euro), much better than anticipated. Its online market places, Taobao and Tmall, also performed well, with a 49 % turnover increase. Mobile devices are the main source of income, with 75 % of the marketplaces’ turnover hailing from mobile devices, while the overall turnover on these devices grew a whopping 119 % to 17.5 billion yuan (2.4 billion euro).

However, not everything was positive as several new projects are still onerous and competitors like JD.com are providing stiffer competition.

Tooth paste and cereal sales

The increased competition does not stop Alibaba from expanding, with intentions to enter the market of the daily consumption goods, like tooth paste, cereal and soap. It just so happens JD.com recently also expanded its product range with these items.

These items mainly target consumers in the rural parts of China at first, but Alibaba is also seeking continued international growth. Founder Jack Ma aims to get 50 % of the company’s turnover abroad within the next 10 years.