Alibaba's 88VIP membership exceeds 42 million

Alibaba Group's financial report shows that in the first quarter of the 2025 fiscal year, the number of 88VIP members continued to grow year-on-year by double digits, exceeding 42 million, compared to 35 million in the previous quarter. After multiple equity upgrades this year, the activation rate and coupon redemption rate of 88VIP have rapidly increased. In May 2024, the number of new 88VIP members increased more than three times year-on-year. On the first day of sales on May 20th, the number of 88VIP buyers increased by over 50% compared to last year's 618, member visits increased by 40% year-on-year, and the average purchase amount per person increased by over 30%. Among the young demographic, there is a strong willingness to activate memberships, with the number of post-00s activating 88VIP memberships increasing by 533% compared to the same period last year, and a monthly increase of 226%