Discount e-commerce company Vipshop on Wednesday posted rosy third-quarter results, with both net revenue and net income surging thanks to decent growth in its active users and orders.
For the three months through September, the New York-listed company booked 19.6 billion yuan ($2.8 billion) in net revenue and 875.5 million yuan in net profit, up 10% and 282.7% respectively from the same period of last year.
The online retailer, famed for selling discounted goods from big brands, grew its number of active customers to 32 million, representing an increase of 21% from a year ago, the report showed. Third-quarter total orders totaled 127.6 million from 95.7 million in 2018, while gross merchandise value jumped by 17% to 31.7 billion yuan.
Vipshop attributed its strong growth to the successful implementation of its marketing strategy, which drove the rise in active customers. The company is also betting big on a planned strategy to offer more goods at bigger discounts, an efficient way to retain old customers and lure new ones.
Despite the strong showing, Vipshop’s share price fell by 5.16% on Nov. 13.
Contact reporter Ding Yi (email@example.com)