Ecommerce 

Alibaba posts 42 per cent gain in quarterly revenue, defying slowdown in China

Alibaba Group Holding beat estimates to report a 42 per cent revenue increase in the quarter ended June 30 amid signs of strain in China’s economy from the protracted trade war with the US. New York-listed Alibaba on Thursday posted better-than-expected revenue of 114.9 billion yuan (US$16.7 billion) in its fiscal first quarter, up from 80.9 billion yuan a year ago. Net income jumped 145 per cent to 21.3 billion yuan in the same quarter. “Alibaba had a great quarter, expanding our user base… Source link

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Ecommerce 

How Chinese e-commerce start-up Kilimall wants to become a ‘digital enabler’ to Africa and its shoppers

Kilimall, the Chinese start-up that is now one of Africa’s leading e-commerce players, is building a platform that empowers thousands of Chinese small businesses eyeing Africa with their localised services.Named after Africa’s highest mountain Kilimanjaro, Kilimall was the first Chinese e-commerce company to enter Africa, selling products that span various categories including electronics, clothing, home appliances, fashion bags, make-up and more.Since its founding in 2014, it has grown rapidly… Source link

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Ecommerce 

Online food orders surge for delivery giants like Meituan as China endures heatwave

China’s spell of hot weather has seen a surge in online food deliveries as consumers opt to stay indoors and order everything from ice cream and iced watermelon to beer and barbecue skewers.Meituan Dianping, the country’s largest online food delivery platform, saw daily orders surpass 30 million for the first time over the weekend, company co-founder and chief executive Wang Xing announced on his Weibo account on Monday.The surge of online orders comes amid a weeks-long heatwave that has hit… Source link

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Ecommerce 

Newly released evidence exonerates JD.com founder Richard Liu of rape claim, his lawyers say

Lawyers for JD.com founder Richard Liu Qiangdong said evidence released by law enforcement officials in the United States exonerated the billionaire, who was accused of rape last year by a Chinese student at the University of Minnesota.“The evidence released today again reaffirms our strong belief from the very beginning that Mr Liu is innocent,” Jill Brisbois, a lawyer for Liu, said in a statement after the release of material in Minnesota on Wednesday.Prosecutors announced in December that… Source link

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Ecommerce 

Chinese gadget recycling start-up Huishoubao cannot wait for 5G to come soon enough

Li Xiaoya has made a business out of the throwaway society with one of China’s biggest online trading platforms for second-hand mobile phones.Called Huishoubao, which means “recycling treasures” in Chinese, the Shenzhen-based start-up is now betting that the transition from 4G to the superfast 5G telecommunication networks would bring about a new wave of gadget upgrades as consumers go for the shiny new gear.“The arrival of 5G will push for further upgrade in hardware, and make room for… Source link

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Ecommerce 

US e-commerce platforms “far behind” Alibaba on anti-counterfeiting efforts, US subcommittee hears

E-commerce platforms in the US have much catching up to do when it comes to preventing counterfeit activities, compared to platforms such as Alibaba, according to a US congressional hearing on counterfeiting and trademarks.At a recent round table with brand owners and platforms, “we learned Alibaba’s anti-counterfeiting policies and programs are significantly more effective than any of their US counterparts,” said Doug Collins, a Republican congressman and ranking member of the House Judiciary… Source link

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Ecommerce 

China Internet Report reveals how tech firms have gone from copycats to trailblazers

China’s internet giants used to be called copycats for creating clones of Western social media platforms back in their home market – but those days are long gone and that trend is now in reverse.Today, global internet companies from the US to Southeast Asia are looking to replicate Chinese concepts – from models such as the all-in-one super app, to social commerce as well as short video, according to findings from the China Internet Report 2019.The second edition of the China Internet Report,… Source link

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Ecommerce 

Apple Pay, Alipay, WeChat Pay and PayMe put to the test – find out which digital wallet is best for you

Mobile payment has never been more popular. In China, mobile payment apps have practically been a way of life in the retail world for the last three years, with the trend now finally catching on in Hong Kong and Southeast Asia.Today, there is a growing number of e-payment apps, each promising faster, safer and easier transactions.According to a 2018 survey conducted by the Hong Kong Productivity Council on brand awareness of e-wallet services, Alipay, WeChat Pay, Apple Pay and PayMe were ranked… Source link

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Ecommerce 

Digitisation will bring fundamental economic change and China can set an example, says Alibaba’s CEO

The digital economy has the power to bring “fundamental change” to how economies and businesses operate, according to Daniel Zhang Yong, chief executive of e-commerce giant Alibaba Group Holding.“Generally speaking, China’s infrastructure was not ready … so when the digital economy came along there was an opportunity to rebuild the infrastructure based on the most advanced technology, and apply this infrastructure in all business areas,” Zhang said at a two-day conference hosted by the Luohan… Source link

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Ecommerce 

Online used car dealer Renrenche said to cut 60 per cent of staff as China’s tech boom cools amid trade war

Renrenche, the Chinese online second-hand car dealer backed by Tencent and ride-hailing giant Didi Chuxing, is undergoing major job cuts as the country’s once booming tech sector continues to be hit by a macro economic slowdown.The lay-offs – the Beijing-based start-up’s second round of cuts this year – could see a reduction of up to 60 per cent of total staff, reported online news portal Sina.com, citing a dismissed employee who was told about the overall plan at a meeting with the human… Source link

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