Alibaba posts another food-driven record quarter

The Chinese e-commerce giant Alibaba posted revenues of $5.2 billion in the first quarter of 2017 (+60% on the same period in 2015).

Based on this unprecedented growth, the group is forecasting revenues of $34.3 billion in 2018 (+45-49%).

Food is one of the key sectors driving the e-commerce boom. The Chinese fresh food market grew by 80% between 2012 and 2016, with revenues up from $580 million to almost $13.2 billion (Source: China international electronic centre).

This value is expected to reach $21.9 billion by the end of 2017. Encouraged by the sector’s high growth potential, Alibaba recently invested a billion dollars in the Chinese start-up Ele.me specialising in home food deliveries.