Vipshop’s total active customers grew by 6% year-on-year to 29.8 million in Q2 2018. 85% of customers were repeat customers and approximately 96% of orders were placed by repeat customers, according to its unaudited financial results for Q2 2018.
The number of new customers from Tencent and JD.com accounted for 24% of Vipshop’s total new customers in this quarter. Vipshop’s JD flagship store currently has approximately 1.5 million followers. The number of new customers from the Vipshop WeChat Mini-Programs increased by more than 500% sequentially. Vipshop launched approximately 400 official WeChat Mini-Programs for brands in Q2 2018.
As of June 30, 2018, approximately 1.9 million customers enrolled in Vipshop’s Super VIP Paid Membership Program, representing a 30% increase sequentially. Moreover, Tencent Video launched a joint membership program, offering even more value to all paid members.
Total orders increased by 31% year-on-year to 111.3 million in Q2 2018. Approximately 99% of orders were delivered through the in-house last mile delivery network, up from 95% in the prior year period. More than 81% of customer returns were handled directly by Vipshop’s last mile delivery network, up from 68% in the prior year period.
Vipshop added a regional logistics hub in Shenyang, China. With this addition, the Company currently has six regional logistics hubs, located in Guangdong, Jiangsu, Sichuan, Tianjin, Hubei, and Liaoning. As of June 30, 2018, Vipshop has approximately 2.9 million square meters of total warehousing space, of which around 1.8 million square meters are owned by the Company.
Vipshop recently added a number of popular domestic and international brands to its platform, including Mulberry and Repetto. Vipshop had a total net revenue of 20.7 billion yuan (US$3.1 billion) in Q2 2018, up by 18.4% over the same period last year. Gross profit increased by 4.8% year-on-year to 4.0 billion yuan (US$611.1 million) in this quarter.
Net income attributable to Vipshop’s shareholders increased by 76.4% year-on-year to 681.6 million yuan (US$103.0 million) in this quarter. Non-GAAP net income attributable to Vipshop’s shareholders was 576.9 million yuan (US$87.2 million), as compared with 672.6 million yuan in the prior year period.