Taobao Users Reach 370m; Taobao Mall Sales Quadruple in 2010

Domestic individuals-focused e-commerce site Taobao recorded 370 million registered users in 2010 and a 35% y-o-y increase in the average number of transactions per user, while transaction volume on its business-to-consumer platform, Taobao Mall, quadrupled in 2010 from the previous year, the company reported January 7. The company recorded a single day's sales worth RMB 936 million in one day on Taobao Mall, during the site's "Singles' Day" promotion on November 11, 2010. The company recorded 17 million daily unique mobile shopping visitors, and a single-day mobile shopping gross merchandise value (GMV) peak of RMB 37 million, the report said.

Taobao said that it now has more than 800 million product listings and sold an average of 48,000 items every minute in 2010. (1688.HK) and Taobao's joint online channel for non-branded goods, "Wuming Liangpin," opened on January 7, Taobao announced the same day.