RetailTechNews’ weekly roundup brings you up-to-date research findings from around the world. In this week’s edition: Online Shoppers Looking to Discover New Products; Chinese ‘Golden Week’ Boosts British Retail; and Amazon Controlling Search.Online Shoppers Looking to Discover New Products
Three-quarters (74%) of online grocery shoppers are now focused on changing their basket of goods to discover new products, according to research from Bazaarvoice and IGD.
According to the research, 41% of all British grocery shoppers say they [...]
China has the largest and most dynamic e-commerce market in the world. Its consumer online expenditure is estimated to exceed £850bn in 2018, according to a recent report by Frost & Sullivan and Azoya Consulting. That accounts for over 100x that of online sales in the UK (£7.83bn). In this piece, Elena Gatti (pictured below), MD, Azoya, tells RetailTechNews that China’s e-commerce market has evolved into different new commerce models that are reshaping and leading the retail industry into a new [...]
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, Singapore electronics retailer Audio House has rolled out a new payment system that lets customers scan QR codes to complete their purchases; and they can do so using their own banking apps.
Audio House said it had adopted NETS QR payment platform, enabling shoppers to select the payment mode at the cashier and scan the QR code displayed on the terminal to initiate the payment process.
Developed by payments vendor Network for Electronic Transfers of Singapore (NETS), the QR platform [...]
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 [...]
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 [...]