3 6 Ke·2026-01-22 00:46Core Insights - Alibaba has set a clear goal to become the "absolute number one" in the instant retail sector by 2026, marking a shift from a competitive participation stance to a decisive winning strategy [1][2][22] - The company aims to capture market share through increased investment in its Taobao Flash Purchase platform, which has shown significant growth potential [2][4] Financial Performance - In Q2 2025, Alibaba's instant retail segment generated revenue of 14.784 billion RMB, a 12% year-on-year increase, contributing to the overall growth of the e-commerce business [2][3] - The total revenue for Alibaba's China e-commerce group reached 140.072 billion RMB in 2025, with instant retail being one of the few segments maintaining double-digit growth [3] Market Dynamics - The instant retail market in China is projected to reach 1 trillion RMB by 2026, with an annual growth rate of 12.6%, making it a highly competitive space for major retail players [4][22] - Alibaba's Taobao Flash Purchase has achieved 300 million monthly active buyers and peak daily orders of 120 million, indicating a strong market presence [7] Competitive Landscape - Competitors like Meituan and JD.com have established strong footholds in the instant retail market, with Meituan leveraging its delivery network and JD.com focusing on high-value categories [22][24] - Douyin is disrupting the market by integrating content with instant retail, appealing to younger consumers through live streaming and short videos [25] Strategic Initiatives - Alibaba is focusing on efficiency optimization and has initiated a "burning plan" to enhance operational efficiency through AI technology and smart tools for merchants [11][12] - The company plans to introduce 1 million offline brand stores into its instant retail network over the next three years, aiming for a transaction increase of 1 trillion RMB [14][26] Challenges and Risks - The shift towards efficiency optimization has led to a significant decline in adjusted EBITDA, down 78% year-on-year, primarily due to high investments in instant retail and user experience [12][20] - Balancing profitability with service quality remains a challenge, as high customer expectations for premium services can further compress profit margins [20][21]