Chinese e-commerce company Alibaba to serve 2 billion consumers globally by 2036, indicates its strategic long-term plan. This announcement came as Alibaba announced a 75% increase in net income to $20 billion (RMB140 billion) in the year ending March 31, 2020.
Alibaba’s strategic plan for the next five years includes serving over 1 million domestic Chinese customers, facilitating $1.4 trillion (RMB10 trillion) worth of consumption through the platform by 2025. This objective will eventually facilitate Alibaba to serve 2 billion consumers globally by 2036, as part of its long-term vision.
“During this past fiscal year, despite the impact of the pandemic, Alibaba still delivered on a strategic goal that we had established five years ago, which was to surpass $1 trillion in GMV. This was an important milestone for Alibaba, especially in the context of $6 trillion in total annual retail sales of consumer goods in China today. Our next goal is to serve more than 1 billion consumers in China and facilitate more than RMB10 trillion of consumption on our platforms in the next five years as we continue on the path of globalisation,” stated Daniel Zhang, chairman and CEO, Alibaba Group Holding.
Commenting on the long-term vision of Alibaba to serve 2 billion consumers globally by 2036, Zhang added “Our longer-term goals are to serve 2 billion consumers globally, create 100 million jobs and provide the necessary infrastructure to support 10 million small businesses to become profitable on our platforms by 2036.”
Towards meeting its goal to serve 2 billion global customers, Alibaba is ramping up international capabilities, with AliExpress opening new direct flights from China to Russia, AliExpress in Spain offering logistics services to 3P sellers and Alibaba-backed Zomato in India branching out into alcohol sales. Alibaba has also unveiled a series of initiatives to support traders in cross-border commerce, increasingly enabling Chinese sellers to access broader Asian and Western markets, stated a blog by Edge by Ascential.
“Even in a highly uncertain world, we can always find some certainty. We know without a doubt that the ongoing digital transformation of our economy and society will be unstoppable…COVID-19 has made us fundamentally re-evaluate our relationship with the world around us. It has catalysed the development of brand-new digital solutions in life, work, education, business management and public services. Today, digitalisation is the new norm,” Zhang concluded.
How much technology is too much technology? Tech has inevitably become asApril 15, 2021 | By Shruthi Nair
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
According to a new report by GlobalData, the penetration of online sales
In a 180-degree turn from 2020, retailers’ expansion plans are outpacing plans
Research by GlobalData found that eBay’s job postings in the US and
London based luxury retail and branding experts, House of Luxury (HOL), is celebrating their
Data presented by Fraîcheur Paris indicates that beauty products accounted for 22% of the
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
British fast-fashion retailer Primark says it has no plans to sell its
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to