Alibaba Group has managed to shrug off the impact of the coronavirus by reporting a thirty five percent increase in sales in the year to March, which also meant that the retail giant achieved its five year goal of surpassing $1 trillion in Gross Merchandise Volume (GMV).
Revenue for the year reached $71.4 billion, as the global customer base of the company expanded to 960 million active consumers.
‘Covid-19 has fundamentally altered consumer behaviour and enterprise operations, making digital adoption and transformation a necessity. We are well positioned and prepared to help large and small businesses across a wide spectrum of industries achieve the digital transformation they need to survive this difficult period and eventually prevail in the new normal. By focusing on the long term and investing in value creation for our consumers and business customers, we believe we will emerge from this crisis stronger and be ready to capture more growth in the future.’ – Daniel Zhang, Chairman and CEO.
