Vipshop's 2025 Second Quarter GMV Reaches CNY 514 Billion, SVIP Active User Base Up 15%

Phoenix Technology News August 14, Vipshop released its 2025 second-quarter financial report. The report shows that Vipshop achieved net revenue of CNY 258 billion in the second quarter, with non-GAAP net profit of CNY 21 billion. Meanwhile, the total transaction value (GMV) for the second quarter was CNY 514 billion, up 1.7% year-on-year; SVIP active user base increased by 15%, contributing to online sales of 52%. In the first half of 2025, Vipshop returned over USD 600 million to shareholders through share repurchases and dividend distributions.

In terms of user operations, Vipshop further upgraded its SVIP membership system. This quarter, it introduced more luxury brands and exclusive discounted goods for high-value members, significantly expanded the benefits pool, adding 53 high-frequency benefits covering music, video, and life services, while upgrading multiple travel privileges to gold/platinum card levels, aiming to enhance loyalty and scale among high-value users.

Moreover, Vipshop leveraged its self-developed "Chase" large model to continuously promote the application of artificial intelligence technology in product recommendation, customer service, and creative marketing, etc., to improve platform operational efficiency and user experience.