Ecommerce 

Amazon will shutter part of its China e-commerce operations to focus on cross-border sales

Amazon will make “operational adjustments” to its China business to focus more on cross-border sales amid stiff competition from domestic operators in the world’s largest e-commerce market.The US e-commerce giant said on Thursday it would stop providing services to third-party merchants on its domestic market place from July 18.“Over the past few years, we have been evolving our China online retail business to increasingly emphasise cross-border sales, and in return we’ve seen very strong… Source link

Read More
Ecommerce 

JD.com describes lawsuit as ‘meritless’ after Minnesota student accuses Richard Liu of rape in US

JD.com said it will defend itself vigorously after a University of Minnesota student accused Richard Liu, the billionaire founder and CEO of China’s second biggest e-commerce company, of rape in a lawsuit filed in Minneapolis on Tuesday, four months after prosecutors declined to pursue a criminal case.The lawsuit, which JD’s lawyers described as meritless, also names JD.com as a defendant and seeks more than US$50,000 in damages. The student, Liu Jingyao, is identified in the complaint as a… Source link

Read More
Ecommerce 

Lazada bets on Chinese e-commerce models to win big in burgeoning Southeast Asian markets

Lazada Group, the Southeast Asian e-commerce platform, is betting on the tried-and-tested technology and e-commerce models of parent company Alibaba Group Holding as it strives to conquer the largely untapped online shopping market in the region.Lazada has adopted Alibaba’s technology to power its platform, and this week announced a host of tools for sellers on its online shopping centre Lazmall to build its brand and better engage with users. Merchants and retailers on Lazmall can now do… Source link

Read More
Ecommerce 

Race is on for tech companies like Grab, Ant Financial to gain an edge in SE Asia's financial services market

In Southeast Asia, over 95 per cent of companies are small and medium-sized businesses, many of which find it difficult to gain access to funding. Now technology companies like Grab, Ant Financial and Tencent’s WeChat are hoping to fill the market gap by offering financial services like loans and payments.Grab, the Singapore-based ride-sharing company that has now expanded into everything from food-delivery to mobile payments, said on Tuesday that it is making a “full-scale push into lending… Source link

Read More
Ecommerce 

No sleep, no sex, no life: Tech workers in China’s Silicon Valley face burnout before they reach 30

He is so focused on his keeping his start-up alive that he can’t sleep at night. She was asked in an interview if she would be willing to break up with her boyfriend for the job. A young couple want their own family but have no energy for sex after work.These are some of the struggles faced by the hundreds of thousands of young workers in China’s tech industry. Like Yu Haoran, a 26-year-old computer science major, who in 2014 founded Jisuanke, a start-up in Beijing’s hi-tech Zhongguancun… Source link

Read More
Ecommerce 

Instagram will now let you buy things directly through the app in a move likely to boost Facebook’s coffers

After years of ogling beautiful images of food, fashion and design on Instagram, people will now be able to buy things they see and like directly through the app – providing instant gratification for the trend-obsessed and a new source of income for parent Facebook.Starting Tuesday, the photo-sharing app is testing a shopping feature, called Checkout, with a handful of retailers including Nike Inc. and designer fashion platform Revolve.“Over time, as we are creating value for people, this could… Source link

Read More
Ecommerce 

How China’s online opinion leaders – or KOLs – convert fans to sales, creating a nearly US$9 billion industry

The Kardashians may have been able to create a US entertainment phenomenon by revealing their luxurious lifestyle through a long running reality TV series, but Chinese key opinion leaders (KOLs) have been able to convert fans and generate sales on a level their western peers can only dream of.While western influencers are mostly video bloggers on Instagram or YouTube, Chinese KOLs can be columnists, socialites, photobloggers, or short video creators – and they have multiple channels through… Source link

Read More
Ecommerce 

Alibaba extends New Retail push with US$693 million investment in STO Express

Alibaba Group Holding’s latest investment in Chinese courier company STO Express comes as China’s largest e-commerce company looks to bolster its New Retail strategy of integrating online and offline shopping.The 4.66 billion yuan (US$693 million) investment in Shanghai-headquartered STO Express is Alibaba’s fourth investment in an express courier company. Before STO Express, Alibaba had taken minority stakes in Chinese courier firms YTO Express, ZTO Express and Best Inc.New York-listed Alibaba… Source link

Read More
Ecommerce 

Tech culture: Chinese consumers are buying cars online using VR, without kicking the proverbial tyre

Many who have benefited most from China’s economic boom over the past decade have not been shy about flaunting their wealth — providing a boon in sales for luxury goods makers and high-end automakers such as Ferrari and Maserati.Times are changing though and amid the recent economic slowdown more and more ordinary Chinese are turning to the second-hand car market to meet their driving needs.Newly-married Ma Pengxiao is 25 years old, lives in Weinan, a small city in China’s northwestern province… Source link

Read More