Alibaba Reaches Transaction Value of 1 Trillion RMB

Posted by Joachim Bartels | Dec 7, 2012 | Alibaba, Alipay, China, E-Commerce, Taobao, Taobao.com, Tmall | 0 |

Alibaba Group, announced the sales volume through its various marketplace platforms, including Taobao and Tmall, surpassed RMB 1 trillion (US$157 billion) from January to November this year. This figure surpasses the combined transaction value of other e-commerce leaders, Amazon and eBay.

Earlier this year, Alibaba recorded US$3 billion in sales transactions in a single day from its marketplaces. All payments are handled by Alipay, Alibaba’s payment processor which has more than 700 million registered users.

According to Alibaba, e-commerce in China’s third and fourth-tier cities grew 60% year-on-year in 2012. The company predicts total volume of sales within its marketplaces will be RMB 3 trillion (US$471 billion) in 2017.

Source: Business Strategies Group Hong Kong – www.bsgasia.com

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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