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 [...]
China is synonymous with technology, as leading Chinese brands remain at the forefront of innovation within the space. In the past, the perception of exported Chinese technology has been that of mass-produced, low-quality novelty items, from musical key rings to flashing dog collars. Here, David Feakins, CEO & founder, Modus Brands, explains that whilst many of these products are still shipped by the container load to e-commerce retailers, high-street stores and wholesalers, there has been a significant shift in the attitude [...]
RetailTechNews rounds up some of the biggest stories in the European retail technology space. In this week’s edition: New Trusted Google Comparison Shopping Service Launched; New Acquisition: Farfetch Reaches for China; and Partnership between Marks & Spencer and Founders Factory.New Trusted Google Comparison Shopping Service Launched
UK-based online retail specialist Summit is launching a new comparison shopping service. Dubbed ‘Productcaster’, the service has been approved as a trusted partner by Google.
Productcaster joins other price comparison networks, such as Shoptail or Connexity, [...]
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 [...]
This week, China’s top 10 e-commerce players have been unveiled and are expected to account for more than 85% of the country’s total online retail sales by year-end, with Alibaba taking pole position.
The market leader is expected to grab a 58.2% share of total e-commerce sales, followed by JD.com with a 16.3% share, according to eMarketer.
The two leaders, though, would face increasing pressure from new market players that have emerged as “credible competitors” over the past few years, offering [...]
This week, JD.com says it clocked a record high of USD$24.7bn (£18.62bn) in transactions from its recent mid-year sales event, which also marked the first time the Chinese e-commerce site integrated online, offline, and virtual shopping experiences.
Dubbed ‘JD6.18′, the annual sales spanned 18 days from 01 June and showcased products from 1,400 brands.
This year’s event also featured pop-up stores located in 30 cities across China, which saw 43 million visits, JD.com said. One merchant, Ocean Spray Cranberries, clocked 400% [...]
This week, we see Google making a USD$550m (£415m) move in China’s e-commerce market and more Australian consumers window shopping than actually buying online.
It may have long exited the Chinese search market, but Google appears to be making its way back – this time, with an eye on e-commerce.
The U.S. internet giant said it was investing USD$550m (£415m) in Chinese e-commerce giant JD.com, as part of a partnership that would see both companies jointly develop retail offerings.
Specifically, the collaboration [...]
Weekly Focus: Alibaba Cainiao to Build HK Logistics Hub & JD.com Taps AI to 'Speed-Write' Product Info
This week, Alibaba’s logistics arm has announced plans to build a logistics hub in Hong Kong, setting aside USD$1.53bn (£1.14bn) for the new development, while JD.com has turned on an AI system to ‘speed-write’ product descriptions and shopping guides.
To be located at the Chinese territory’s international airport, the project will be spearheaded by Alibaba’s Cainiao Network and its joint venture (JV) with China National Aviation Corporation and YTO Express. Cainiao owns a 51% stake in the JV, while China [...]
There is a stark contrast between the news stories surrounding British and Chinese retail at the moment. While we are inundated with stories of shop closures and businesses entering administration, those keeping abreast of the retail scene in the East will realise that the Chinese giants are facing no such issues. In this piece, Hannes Ben (pictured below), chief international officer, Forward3D, tells RetailTechNews just what British retailers could stand to gain by following the lead of their Chinese counterparts.
This week, online consumers in Australia learn that they soon will no longer be able to shop on Amazon.com’s international sites – a result of the e-commerce giant’s move to sidestep the country’s new GST rule.
From 01 July 2018, Australians will be barred from shopping on Amazon’s U.S. and other international websites and be automatically redirected to the local platform, which offers a smaller inventory.
The move is a response to the country’s new GST rule that will see a [...]