For the last fiscal year, Alibaba reported a record 8,317 billion yuan renminbi (€1,160 billion) in global gross merchandise value. However, revenue in the quarter ended March 31, 2022, climbed only 9 percent year-on-year to RMB 204.1 billion (€28.5 billion). This is the slowest growth ever, which the company attributes to the Covid lockdown, Beijing’s control measures and sluggish economic development.
In the 12 months ended March 31, 2022, Alibaba Group’s global active customers totaled over 1.31 billion. This included over 1 billion Chinese users – a new milestone and the original target for 2024 – as well as 305 million people from other countries.
Based on the fiscal year ending March 31, 2022, revenue increased 19 percent year-on-year to RMB 853.1 billion (€119.2 billion). Over 124 million annual active users spent more than RMB 10,000 (€1,395) on Taobao and Tmall in the fiscal year 2022. Approximately 98 percent of active annual consumers who spent more than RMB 10,000 on Taobao and Tmall in fiscal 2021 were also active in fiscal 2022.
Looking ahead to fiscal 2023, the group will focus on achieving sustainable, high-quality revenue growth and optimizing its operating cost structure “to enhance overall return amidst these uncertain times,” CFO Toby Xu said.
