Transaction Growth Confirms Fliggy's Strength Connecting International Brands to Chinese Consumers [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
HANGZHOU, China June 26, 2024 /PRNewswire/ -- Fliggy, a leading online travel platform and wholly-owned subsidiary of Alibaba Group (NYSE: BABA and HKEX: 9988), saw double-digit growth in the number of merchants with a transaction volume exceeding RMB1 million on its platform during this year's 618 summer promotion. While five international brands each recorded a transaction volume exceeding RMB100 million via their flagship stores, the platform has shown its proven ability to generate business growth for merchants of all sizes. These results underscored Fliggy's strength as a platform connecting Chinese consumers to international brands' flagship stores, including InterContinental Hotels Group, Marriott International, Hilton, Hyatt and Beijing Universal Resort. The transaction volume of promotional items during this period saw robust double-digit growth compared to the previous year, with the number of participating consumers nearly doubling from the same period last year. Lever
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