On February 28, China’s online discount retailer Vipshop released its performance for 2023. Benefiting from seasonal demand growth and the rise of rational consumption, Vipshop achieved net revenue of 112.9 billion RMB ($17.37 billion), a year-on-year increase of 9.4 percent. At the same time, the annual gross merchandise value was 208 billion RMB ($32 billion), a year-on-year increase of 18.7%; the number of active users was 87.4 million, up 3.9% YoY.