This week, Chinese e-commerce giant JD.com has officially launched an e-commerce site in Thailand alongside local retail group, Central Group.
The new addition is part of JD.com’s efforts to expand its presence in Southeast Asia, where it currently operates an e-commerce site in Indonesia and has invested in Vietnamese business-to-consumer e-commerce operator, Tiki.
The Thai platform, called ‘JD Central’, had been running in beta since 18 June, offering products across various categories, including electronics, fashion, home appliances, books, processed foods, and cosmetics, [...]
This week, Chinese e-commerce giant JD.com has unveiled plans to expand its network of fresh food stores, 7Fresh, across China as well as made its foray into the Korean market with a new office set up in Seoul.
JD.com said it inked agreements with 16 real estate companies to facilitate the expansion of its supermarket chain, which was launched earlier this year, into Shanghai, Guangzhou, Shenzhen, and Chengdu. The partners included China Poly Group, Vanke, and Yuexiu Property.
Fresh produce accounts [...]
This week, Alibaba Group has unveiled a one-year leadership succession plan as its executive chairman, Jack Ma, prepares to leave the company he co-founded and hand over the reins to current CEO Daniel Zhang.
Ma, whose face and name have become synonymous with the e-commerce giant, will remain in his role until 10 September next year to ensure a smooth transition to Zhang, according to Alibaba.
The announcement, which was released on 10 September when Ma celebrated his 54th birthday, also revealed [...]
Lazada is banking on data to help retailers offer better a shopping experience on its e-commerce platforms and, hence, drive sales of their products.
In this aspect, the Southeast Asian online marketplace already has been tapping the industry knowhow and technologies of its majority shareholder, Alibaba.
Such sharing has included the Chinese e-commerce giant’s search algorithm and deep-learning technologies, Jing Yin, Lazada’s co-president of commercial, said in an interview. The executive himself had spent five years based out of Alibaba’s [...]
This week, JD.com has teamed up with several hotels to showcase its technologies and marketplace products, enabling guests to purchase items they find in their rooms.
Selected rooms at these partner hotels including Wanda, Sheraton, Beijing 5L, and Greenland, would be suited up with products identified to be popular amongst travellers, such as power banks to charge their devices, a Philips Sonicare electric toothbrush, and JD.com’s smart speaker cum personal assistant device.
The Chinese e-commerce giant said it introduced the programme [...]
This week, Google has unveiled a rebranding of its digital payments service and plans for further expansion of the platform in India, where consumers have made more than 750 million transactions with the app.
Called ‘Tez’, when it was launched in the country last September, the payments platform since has chalked up more than 22 million users – including 1.2 million local businesses – each month, according to Caesar Sengupta, Google’s general manager for payments and the company’s next billion [...]
Last week (23 August) Alibaba reported financial results for their fiscal first quarter. Revenue soared 61% year-on-year, boosted by its core e-commerce business and fast-growing cloud division, but earnings fell short of expectations.
Revenue was ¥80.9bn (£9.3bn), compared to expected revenue of ¥80.7bn (£9.2bn). Meanwhile, adjusted earnings per share were ¥8.04 (92p), compared to an expected result of ¥8.15 (93p).
In the year-ago quarter, Alibaba reported adjusted earnings of ¥7.95 (91p) per share on revenue of ¥50.2bn [...]
This week, JD.com unveils a new blockchain platform that it says is aimed at helping companies access and develop their own applications on the technology to better secure their operations.
The new platform allows businesses to create and modify smart contracts as well as streamline operations, such as track-and-trace movement of goods, transaction settlement, and authentication of certifications. It also will enable businesses that lack the necessary capabilities to access and tap blockchain technology for their own applications, according to [...]
This week, Walmart’s planned acquisition of Flipkart has been given the go-ahead by Indian authorities, but much to the frustration of a local traders’ association that has mooted the possibility of taking the matter to court.
The Competition Commission of India (CCI) said in a tweet that it “approves [the] proposed acquisition” of Flipkart by Walmart International Holdings. In its ruling, the commission said it had reviewed issues related to the planned merger and found the move unlikely to have [...]
This week, Flipkart has announced plans to shutter eBay and open up an online marketplace peddling refurbished goods, as it looks to address a market that remains largely ‘unorganised’.
The Indian e-commerce giant in April last year inked an agreement with eBay to “jointly address” local market opportunities, with the U.S. auction site investing USD$500m (£380.93m) in Flipkart and selling its Indian business to Flipkart.
Under the deal, Flipkart owned and operated eBay.in, and acquired eBay’s buyers in India. In [...]