Earnings Presentation Q4 FY2023
China Commerce 淘宝Taobao TMALL 天猫 特
1688 FRESHIPPO
Alibaba Health
Taocaicai
Taobao Deals
Alibaba
China Commerce Retail revenue
•
Revenue from our China commerce retail business in the quarter ended March
31, 2023 was RMB132,062 million (US$19,230 million), a decrease of 3%
compared to RMB135,696 million in the same quarter of 2022.
Direct sales and others revenue under China commerce retail business in the
quarter ended March 31, 2023 was RMB71,788 million (US$10,453 million),
decreasing slightly by 1% year-over-year, compared to RMB72,275 million in the
same quarter of 2022, mainly due to decrease in offline store sales, which was
negatively affected by the COVID-19 disruption in January and seasonal
volatility from an earlier Chinese New Year, as well as normalizing grocery
demand due to decrease in consumer hoarding behavior post-COVID-19.
China Commerce Wholesale revenue
Revenue from our China commerce wholesale business in the quarter ended
March 31, 2023 was RMB4,011 million (US$584 million), a decrease of 8%
compared to RMB4,383 million in the same quarter of 2022.
Business Highlight
For the quarter ended March 31, 2023, online physical goods GMV on Taobao
and Tmall, excluding unpaid orders, declined mid-single-digit year-over-year.
China's consumption gradually recovered throughout the quarter ended March
31, 2023. In the month of March, online physical goods GMV growth on Taobao
and Tmall, excluding unpaid orders, turned positive, driven by strong growth of
fashion & accessories and healthcare categories.
We remain focused on improving the customer value proposition of our Taobao
app by increasing media content that strengthens consumer engagement; being
more price competitive through more effective targeting and introduction of
new marketing features; and catering to consumers' time-sensitive needs for
high-frequency everyday necessities through our neighborhood retail
businesses. In April, we started testing a new interface for Taobao app that aims
at increasing front page exposure for livestreaming, channels for price
competitive products and neighborhood shopping categories.
Segment adjusted EBITA
China commerce adjusted EBITA increased by 19% to RMB38,487 million
(US$5,604 million) in the quarter ended March 31, 2023, compared to
RMB32,234 million in the same quarter of 2022.
Three months ended March 31,
Year ended March 31,
(in RMB Mn, except percentages)
2022
2023
YoY %
2022
2023
YoY %
Customer management
63,421
60,274
(5)%
315,038
290,378
(8)%
Direct sales and others
72,275
71,788
(1)%
259,830
274,954
6%
China commerce wholesale
4,383
4,011
(8)%
16,712
17,399
4%
Revenue
140,079
136,073
(3)%
591,580
582,731
(1)%
Adj. EBITA
32,234
38,487
19%
182,431
184,862
1%
Adj. EBITA Margin
23%
28%
31%
32%
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