Lyon: It is estimated that the total GMV of 618 e-commerce platforms will increase by 15% year-on-year, giving Ali and JD.com “outperform the market” ratings

According to a research report published by Lyon, according to statistics from data companies, the total GMV of 618 e-commerce platforms increased 15% year-on-year to 855.6 billion yuan this year. Benefiting from a longer promotion period, higher brand participation and trade-in subsidies, major e-commerce platforms in the mainland all recorded double-digit GMV increases. Among them, Alibaba and JD's GMV grew faster than last year. The focus of this year's promotion has shifted from low-priced products to more branded products, and platform discounts have also been reduced year by year. In addition, the application of AI tools has also enabled merchantsROIHigher and lower return rates. The bank expects Alibaba's customer management revenue (CMR) and JD.com's retail revenue to maintain steady growth in the next quarter, with Alibaba's target price of 165 US dollars, JD.com's target price of 45 US dollars, Kuaishou's target price of 67 HKD, and Tencent's target price of HK$645, all rated “outperforming the market.”