Alibaba’s consumer businesses generated US$1.24 trillion in GMV

Alibaba’s annual active consumers on its China retail marketplaces reached 811 million for the twelve months ended March 31, 2021, an increase of 32 million from 2020, according to its quarterly financial results. Mobile MAUs on Alibaba’s China retail marketplaces reached 925 million in March 2021, an increase of 23 million over December 2020. In […]

Alibaba’s consumer businesses generated US$1.24 trillion in GMV

Alibaba’s annual active consumers on its China retail marketplaces reached 811 million for the twelve months ended March 31, 2021, an increase of 32 million from 2020, according to its quarterly financial results.

Mobile MAUs on Alibaba’s China retail marketplaces reached 925 million in March 2021, an increase of 23 million over December 2020.

In fiscal year 2021, approximately 70% of new annual active consumers were from less developed areas. And, the average annual spending per consumer on its China retail marketplaces reached over RMB9,200 (US$1,404); Taobao Live GMV reached over RMB500 billion (US$76.3 billion).

Alibaba’s China consumer-facing businesses, including China retail marketplaces, local consumer services, and digital media and entertainment platforms, served 891 million annual active consumers during the twelve months ended March 31, 2021.

Overall online physical goods GMV, excluding unpaid orders, grew 33% year-over-year in Q1 2021, driven primarily by the fast-moving-consumer-goods (FMCG) and home furnishing categories.

Tmall online physical goods GMV, excluding unpaid orders, grew 26% year-over-year and Taobao online physical goods GMV, excluding unpaid orders, grew even faster as SME merchants recovered from the pandemic.

Annual active consumers of Taobao Deals (Taobao Special Offer app) reached over 150 million for the twelve months ended March 31, 2021. Taobao Deals continues to be an offering that attracts incremental users especially in less developed areas.

Related: Top e-commerce mobile shopping platforms in China 2021

Ele.me’s average daily number of paying members continued to grow strongly at approximately 40% year-over-year during the March quarter. Alibaba steps up for community group buying market in China.

Amap (Gaode Maps) reached an important milestone of over 100 million average DAUs in the month of April 2021.

As of March 31, 2021, Alibaba had 257 self-operated Freshippo (Hema) retail stores (compared to 202 stores as of Q1 2020), primarily located in tier-one and tier-two cities throughout China. Hema penetrating low-tier cities with Hema Mini supermarket.

Taoxianda, its online-offline retail integration service solution for FMCG brands and third-party grocery retail partners, drove Sun Art’s digitalization of its hypermarkets and, along with Alibaba’s other businesses, facilitated the growth of Sun Art’s online revenue.

For the twelve months ended March 31, 2021, online revenue represented 24% of Sun Art’s sales of goods, increasing from 17% for the twelve months ended March 31, 2020.

As of March 31, 2021, in addition to Sun Art, Taoxianda helped 42 retail chains to open online stores with services available across 145 cities in China and enabled over 168 retail chains, supermarkets and marketplaces to digitalize their marketing program.

Alibaba’s international retail marketplaces, which include mainly the AliExpress cross-border retail platform and Lazada in Southeast Asia, served approximately 240 million annual active consumers during the same period.

Alibaba’s China and international consumer segments combined to serve over one billion annual active consumers which generated RMB8,119 billion (US$1,239 billion) in GMV as of March 31, 2021.

Its revenue in Q1 2021 was RMB187,395 million (US$28,602 million), an increase of 64% year-over-year. Excluding the consolidation of Sun Art, Alibaba Group‘s revenue would have grown 40% year-over-year to RMB159,952 million (US$24,413 million).

On April 10, China’s General Administration of Market Supervision imposed administrative penalties on Alibaba for its monopoly in the domestic online retail platform service market, mainly focused on forcing merchants to choose one of two platforms.

Loss from operations was RMB7,663 million (US$1,170 million) due to an RMB18,228 million (US$2,782 million) fine levied by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”).

Excluding this one-time impact, Alibaba’s income from operations would have been RMB10,565 million (US$1,612 million), an increase of 48% year-over-year.

Net loss attributable to ordinary shareholders was RMB5,479 million (US$836 million), and net loss was RMB7,654 million (US$1,168 million), primarily due to the Anti-monopoly Fine. Excluding this impact and certain other items, non-GAAP net income was RMB26,216 million (US$4,001 million), an increase of 18% year-over-year.

Diluted loss per ADS was RMB1.99 (US$0.30) and diluted loss per share was RMB0.25 (US$0.04 or HK$0.30), primarily due to the fine. Excluding this impact and certain other items, non-GAAP diluted earnings per ADS was RMB10.32 (US$1.58), an increase of 12% year-over-year, and non-GAAP diluted earnings per share was RMB1.29 (US$0.20 or HK$1.53), an increase of 12% year-over-year.

Tmall Hey Box: Alibaba’s best seller incubator for top brands

Source : China Internet Watch More   

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Can medical cannabis in Thailand balance profits and patients?

Author: Pascal Tanguay, Bangkok For the past four years, the Thai government has been making legislative reforms to build a market for medical cannabis. With the potential to reap significant economic benefits and help patients in need, the question remains — will the government prioritise profits or patients? Although those two objectives are not necessarily […] The post Can medical cannabis in Thailand balance profits and patients? first appeared on East Asia Forum.

Can medical cannabis in Thailand balance profits and patients?

Author: Pascal Tanguay, Bangkok

For the past four years, the Thai government has been making legislative reforms to build a market for medical cannabis. With the potential to reap significant economic benefits and help patients in need, the question remains — will the government prioritise profits or patients?

Although those two objectives are not necessarily mutually exclusive, it is important to understand the motivations behind the reforms so that policymakers can balance both aspects. Evidence increasingly shows that health is a public good that is too important to be managed by market forces, especially given that profiteering is at odds with public health principles.

In January 2017, hemp (fibre from the cannabis plant stem) was decriminalised in a pilot project by Thailand’s Narcotics Control Board. In December 2018, Thailand’s National Assembly unanimously voted for amending national laws in favour of medical cannabis. In February 2019, cannabis and hemp extracts were removed from state control and products containing hemp were reclassified in August 2019.

Additional reforms a year later allowed private medical operators to grow and trade the crops. In December 2020, authorities removed additional parts of the cannabis plant from criminal statutes. In March 2021, Deputy Prime Minister and Public Health Minister Anutin Charnvirakul announced that households could legally grow up to six cannabis plants.

Medical cannabis is in high demand from patients suffering from 38 different health conditions. Three months before the plant became legal, over 30,000 people registered for access and a further one million patients became eligible for use. Although only a few dozen individuals were initially in therapy due to major challenges in approving patients, 10,000 bottles of cannabis oil were distributed among patients with a prescription in August 2019. By November 2020, 14,236 patients were receiving medical cannabis, representing a modest increase in accessibility.

Stringent government controls have led to licensing challenges. In January 2020, 442 medical cannabis licenses had been issued, over 400 of which were used for distribution — although supply remains an important challenge to be addressed by household production.

Infrastructural challenges to facilitate access have been partially addressed through the rapid expansion of dispensing clinics. By November 2020, 311 medical clinics were operating, most in Bangkok, although the government has committed to having at least one in each province. This is up from two full-time clinics in May 2019. Despite the growing number of clinics, it remains unclear how many patients currently have access to medical cannabis in the absence of any evaluation of dispensing medical services.

The government has been explicit that the primary impetus behind its medical cannabis policies is profit. Deputy Prime Minister Charnvirakul stated that ‘marijuana and hemp are both economic crops [that provide] a new option for locals to generate revenue’. He went on to claim that ‘households could earn 12,000 baht (US$385) per year by selling plants to industry’. Marut Jirasrattasiri, Director General of the Department of Thai Traditional and Alternative Medicine, referred to medical cannabis as providing ‘more options for income’.

The press echoes the promise of financial benefits, with many articles advancing potential economic gains published in the health section rather than the business section. The market value of cannabis in Thailand is estimated to be between US$660 million and US$2.5 billion by 2024. It is no wonder that multiple segments of society are keen on chasing the ‘pot of gold’ and joining the green rush.

Yet some worry that the promise of profit will lead to corners being cut and skewed priorities. Putting profit ahead of public health is a common response to public health crises — one most recently seen in the context of the COVID-19 pandemic. Experts warn that prioritising commercial interests over public health may lead to ‘negative and irreversible consequences for Thai society’.

In Thailand, the medical needs of patients and the potential health benefits of cannabis seem to be secondary to the potential economic returns from growing the market. If patients came before profit, we would have seen a rapid increase in patient access and independent efforts to identify bottlenecks and improve accessibility. Experts and officials would be promoting the medical benefits of cannabis. Instead, access to cannabis has been limited, no evaluations have been performed and popular discourse promotes the potential economic benefits for the country, the government, and the business sector.

Thailand has historically done well in protecting patients over profiteering by issuing compulsory licenses to ensure affordable access to essential medicines. It is important that the government upholds those same priorities as it positions itself as a leader in the Southeast Asian medical cannabis market.

Pascal Tanguay is an independent harm reduction and drug policy expert based in Bangkok.

The post Can medical cannabis in Thailand balance profits and patients? first appeared on East Asia Forum.
Source : East Asia Forum More   

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