Vipshop’s total net revenue for Q1 2017 increased by 31.1% to 15.95 billion yuan (US$2.32 billion) from 12.17 billion yuan in Q1 2016 according to the company’s released financial results.
The number of Vipshop active customers for Q1 2017 increased by 32% year over year to 26.0 million. Total orders increased by 23% year over year to 72.1 million. Total active customers for the twelve months ended March 31, 2017, increased by 38% to over 55.5 million.
Gross profit for Q1 2017 increased by 25.0% to 3.69 billion yuan (US$536.7 million) from 2.96 billion yuan in Q1 2016. Net income attributable to Vipshop’s shareholders for Q1 2017 increased by 16.3% to 551.9 million yuan (US$80.2 million) from 474.6 million yuan in Q1 2016.
In Q1 2017, Vipshop’s CRM team began to experiment with a new Super VIP paid membership program, which offers many features including early and exclusive access to selective sales events, privileged discounts, and free shipping and returns. Trial program members who enrolled as Super VIPs showed significant improvements in average order frequency and average revenue per user.
Vipshop has approximately 2.1 million square meters of warehouse capacity nationwide. And, it added approximately 3,000 last mile delivery staff in Q1 2017 and now has a total of more than 23,000 last mile delivery staff nationwide.
It now has approximately 2,800 self-operated delivery stations and is able to deliver 93% of its orders through its last mile network as compared with 83% in the same period last year, covering all provinces in China.
In Q1 2017, Vipshop added a number of popular international brands and now works directly with Giorgio Armani, Guess, Versace, and many others.
In Q1 2017, BrandZ ranked Vipshop as number 40 on the list of “Top 100 Most Valuable Chinese Brands 2017“.
JD.com GMV and annual active customers grew by over 40% in Q1 2017.