The average order value has risen against the trend, showing signs of stabilization in Taobao's market share.

Huachuang Securities released a research report stating that in March 2024, Taobao and Tmall's GMV increased by 14% year-on-year. In the first three months of this year, the GMV growth rate of the top five e-commerce platforms was 21%: JD.com at 29%, Pinduoduo at 13%, Douyin at 50%, and Kuaishou at 36%. From various data dimensions, Taobao's market share is stabilizing:

In terms of user activity and engagement time, Taobao remains the absolute leader. In March, Taobao's monthly active users reached 910 million, a 10% year-on-year increase, while user engagement time increased by 25% year-on-year.

The average order value has risen against the trend. According to data from the National Bureau of Statistics and the Postal Bureau, the average unit price of packages across the entire network in January-February 2024 was 78.3 yuan per piece, a decrease of 28 yuan compared to the same period last year. However, Taobao's average order value rose against the trend in Q1 and March, with an 8.4% year-on-year increase.

Taobao's market share is stabilizing, and competition shows signs of slowing down. The decline in the overall network's average order value is mainly attributed to the impact of Pinduoduo and Douyin's low-price strategies, as explained by Huachuang Securities. Meanwhile, Taobao and JD.com's average order values are rising. From a market perspective, the competition Taobao faces is showing signs of easing. Currently, the most intense competition is in the low-price segments of Douyin, Kuaishou, and Pinduoduo. This also indirectly reflects that the series of policies implemented by CEO Eddie Wu since taking office as Chairman of Taotian Group—prioritizing users and comprehensively enhancing price competitiveness, product strength, and overall services—are gradually taking effect. $Alibaba(BABA.US)