Taobao Tmall Group, a subsidiary of BABA-SW (09988.HK) +0.400 (+0.552%) Short selling $347.11M; Ratio 13.551% (BABA.US) , is in the midst of the 618 Mid-Year Shopping Festival. The Group's latest figures showed that the growth of merchants and user participation during the event has been flattering, especially for new brands and SMEs, reflecting that the Group's commitment to user experience and merchant efficiency measures achieved notable results.
On the first day of the 618 Mid-Year Shopping Festival, the number of 88VIP members placing orders gained more than 50% YoY, the per capita purchase amount increased more than 30% YoY, and the number of visits to the 88VIP membership platform added more than 40%.
On the back of the merchant support measures, the efficiency of merchants was improved. On the first day of 618, 370,000 Taobao small merchants doubled their GMV YoY, and the GMV of about 50 trending categories topped RMB1 billion during the event.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-17 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
