In 2018, Vipshop generated US$19.47bn in GMV from 60.5 million active customers who altogether placed 437.4 million orders. Total net revenue reached US$12.3bn.
Vipshop’s active customers totaled 60.5 million at the end of 2018, an increase of 5% year-on-year. In Q4 2018, this figure grew by 13% year-on-year to 32.4 million. Approximately 23% of new customers came from Tencent and JD.com during the quarter.
Total orders for the full year of 2018 increased by 31% year-on-year to 437.4 million. Orders went up by 35% year-on-year to 140.3 million in Q4 2018.
GMV grew by 21% year-on-year to 131.0 billion yuan (US$19.47bn) in 2018. GMV increased by 15% year-on-year to 41.8 billion yuan (US$6.21bn) in Q4 2018. It derived 10.2 billion yuan in GMV during Alibaba’s Double 11 shopping festival 2018, the same increase of 27% year-on-year as Tmall.
Total net revenue reached 84.5 billion yuan (US$12.3bn) in 2018, an increase of 15.9% year-on-year. Net revenue was 26.1 billion yuan (US$3.8bn) in Q4 2018, an increase of 8.1% year-on-year.
Roughly 3.2 million customers enrolled in Vipshop’s Super VIP Paid Membership Program as of December 2018, a 38% increase quarter-on-quarter. The initial membership renewal rate for customers who joined the program before December 31, 2017, was over 70%.
The number of total active customers who participated in Alibaba’s Double 11 shopping festival 2018, including those who otherwise had not placed an order for a period of time, increased by 23% year-on-year.
More than 5,500 brands participated in Vipshop’s 12.8 Anniversary Sale in 2018, a 14% year-on-year increase. New customers from the WeChat mini-program accounted for over 20% of total new customers during the promotional period.
Vipshop added approximately 86,000 square meters of warehousing space in Q4 2018. As of December 31, 2018, Vipshop has approximately 3.0 million square meters of total warehousing space, of which around 1.9 million square meters are owned by it.
Vipshop began to shift some low-margin categories from first-party business into the marketplace platform during the quarter, reducing their drag on its bottom-line while still delivering a solid GMV growth of 15% year-on-year.
Tmall and JD had a combined market share of over 85% in China’s B2C e-commerce market in Q4 2018