Chinese E-commerce giant Alibaba Group has officially become the world's largest retailer¹, with its gross merchandise volume (GMV) amounting to three trillion yuan, or 475.89 billion dollars, in the last financial year ending in March.

 

3月结束的2015财政年度，中国电商巨头阿里巴巴集团正式成为世界上最大的零售商，其商品交易总额达到三万亿元人民币（4758.9亿美元）。

 

This means the world's largest retail² market place has shifted from offline to online. Traditional offline retail giants like Wal-Mart and Costco have been outperformed.

 

Alibaba was born in a time of data technology. Its growth has mainly been supported by new technologies like big data, cloud computing³, online payment and credit systems, as well as smart logistics.

 

By applying these technologies, Alibaba managed to create a platform that allows online and offline businesses to co-exist.

 

Currently, a new real economy based on new technologies is expanding. 

 

Alibaba's next target is to reach six trillion yuan (926.4 billion dollars) in transaction volumes by 2020 and to improve efficiency for retailers⁴. In this way, they will push forward commercial reforms with new technologies.

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