We enjoyed exceptional revenue growth in our core commerce business while successfully expanding our product and service offerings from physical goods to local consumer services and to digital entertainment contents. On new retail, our self-owned and -operated fresh goods and grocery retail chain Hema continued to achieve robust same-store sales growth, expand footprint, optimize stores, and introduce new initiatives to improve customer experiences. As of March 31st, 2019, we had 135 self-operated Hema stores in China, primarily located in Tier 1 and 2 cities. We're seeing significant traction and diversification of customers and revenue, and in fiscal 2019, Alibaba Cloud served over half of the listed companies in China. I also said that we do not have a plan to extend the monetization of recommendation fees in the coming fiscal year. So, to translate it, when you see the customer management revenue growth for this quarter, it's very high -- 31% -- versus 26-27% in previous quarters. So, this is partially because we allocated more traffic for the recommendation fees test. For the reason that we're not going to extend that monetization test, it's just similar how we invested in the B2C market share expansion. So, what we're telling people is that if we want to monetize this, we can increase the revenue and extend CMR quickly, but we're targeting for long-term growth.
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Jun 25, 2019