Times of India — NEW DELHI: When Reliance Retail started selling fruits and vegetables at prices lower than market rates and talked about eliminating middlemen, the then Mayawati government in Uttar Pradesh shut the stores, calling it a law and order problem. Eight years later, online grocery stores are looking to gain favour with customers by offering onions at about half the rate that neighbourhood stores are charging.
Want China Times — The craze for pyramid-style micro e-commerce schemes using social networking platforms in China appears to have subsided following extensive closures and sales declines, according to Shanghai’s National Business Daily. Feng Jianjun, a specialist in daily necessity commodities, said micro e-commerce businesses have been plagued by falling sales and bankruptcies.
Tech In Asia — Base on the latest survey by MasterCard in 14 Asia Pacific countries in 2015, the proportion of people shopping online in the past 3 months has increased from 68.4 percent to 80.2 percent, achieving the second highest growth rate (11.8 percent) in the Asia Pacific.Aviation, consumer electronics products, and tourism are the top three areas where Vietnamese consumers spend the most money when they shop online.
Times of India — BENGALURU: India has added new customers at the fastest rate for Amazon in its history of operations in multiple countries, the company’s head of international consumer business, Diego Piacentini, told TOI. India is also the second biggest investment country for the company after the US, he said, adding that India was key to Amazon’s future success.
Times of India — BENGALURU: Flipkart is firming plans to phase out the commissions it charges merchants for selling on its online marketplace, hoping to enlist more of them, according to four people aware of the matter. It will instead urge sellers to advertise on its platform, for a fee. “The focus will be to push sellers to advertise on the platform and not compete on commissions,” a top Flipkart executive directly aware of the plan told ET. “The selling commission will become zero now,” a Flipkart executive in its seller management team said.
Times of India — NEW DELHI: Online marketplace Snapdeal has raised $500 million (about Rs 3,269 crore) in a fresh round of funding from a clutch of investors led by Alibaba Group, Foxconn and SoftBank. Existing investors Temasek, BlackRock, Myriad and Premji Invest also participated in the latest funding round, Snapdeal said in a statement. The company had raised more than $1 billion, from investors including Softbank ($627 million) and iconic business leader Ratan Tata (personal investment).
WSJ — In late April, Jack Ma, the founder of Chinese electronic-commerce company Alibaba Group Holding Ltd., made a personal pitch to Tadashi Yanai, the head of Asia’s largest apparel maker. Fast Retailing Co. had recently started selling its popular Uniqlo line of clothing on Alibaba’s biggest rival site, JD.com, and sales were brisk. If Uniqlo increased its loyalty to Alibaba’s platform, Mr. Ma and his team told Mr. Yanai, Alibaba would drive more traffic and sales to Uniqlo’s shop there, according to people familiar with the discussions.
MIS Asia — CurrentC, the mobile payments solution backed by big retailers such as Target, Walmart, and Best Buy, might not launch this year after all, and some member stores are now throwing their support behind Apple Pay. Retail consortium MCX, which runs CurrentC, will still kick off a pilot program in a few weeks in Columbus, Ohio. But MCX CEO Brian Mooney told Recode that the group isn’t rushing a wider rollout, despite earlier plans for a mid-2015 public launch.
NEW DELHI: Japanese consumer goods manufacturer Sansui has decided to go online-only in a big way in India and will sell its air-conditioners and certain models of televisions and refrigerators exclusively through Flipkart. “Last month we saw a 25% decline in sales in offline stores and three-digit growth in sales through Flipkart. So we have decided to sell all air-conditioners and some models of refrigerators and televisions only online,” said Amitabh Tiwari, chief operating officer (COO) of Sansui.
China Tech News — China’s online-to-offline opportunities have reached a new level with investment from China’s top e-commerce firm into one of China’s leading retail chains. China’s Alibaba Group Holding Limited will invest approximately CNY28.3 billion for a 19.99% stake in Suning Commerce Group Limited. After the closing of the investment in Suning, Alibaba will be the second-largest shareholder in the Chinese electronics retailer.
Variety — Chinese e-commerce giant Alibaba Wednesday reported non-GAAP net income of $1.53 billion for April to June, the first quarter of its 2015-16 financial year. That was up 30% and in line with analysts’ forecasts, but revenue was on the low side of investors’ expectations and up by only 28% at $3.27 billion. Alibaba said that revenue would have been up by 36% but for two exceptional factors: the transfer of its loans business to Ant Financial; and the ending of online sales of state lottery tickets earlier this year.
Business Times SG — SHANGHAI: Chinese Internet giant Alibaba is to pay 28.3 billion yuan (US$4.6 billion) for a nearly 20 per cent stake in consumer electronics retailer Suning, the two companies said in a statement Monday. At the same time the Chinese shopping chain will invest up to 14 billion yuan for just over one per cent of Alibaba, the statement said, bringing the total value of the deal to nearly US$7 billion.
PRNewswire Asia — SINGAPORE: Running from 2nd-3rd September 2015 at the SMX Convention Center in Manila and bringing together 1000+ attendees, 60 expert speakers and 40 international & local exhibitors, Cards & Payments Philippines and the E-Commerce Show Philippines will be the premier meeting places for the entire payments and e-commerce ecosystems from across the country.
Times of India — BEIJING: China’s e-commerce raked up a whopping $2.68 trillion in 2014, registering a 59.4% jump from the year before despite a slowdown in the world’s second-largest economy. China’s e-commerce trade soared in 2014 thanks to improved internet infrastructure and an increase in cellphone users, state-run Xinhua news agency reported.
Times of India — BEIJING: Indian online marketplace Snapdeal is set to raise $500 million from a group of foreign investors including China’s Alibaba Group Holding Ltd, three people familiar with the matter said on Monday. One of the people said the deal could be finalized within a few days at the earliest but may also take weeks.
Tech in Asia — The recent events of PayPal and eBay splitting into two separate entities and the newly released version of Alibaba’s mobile payment app Alipay 9.0 inspired me to take a closer look at these two unequal rivals. However, comparing Alipay with PayPal directly doesn’t seem to do the former much justice. As with many of the leading Chinese digital players, Alipay is an integral part and closely connected within Alibaba’s ecosystem.
Want China Times — Tmall.hk, an online shopping platform for overseas goods under Chinese e-commerce powerhouse Alibaba, launched an international duty-free shopping platform on Tuesday. Consumers with outbound air tickets can purchase duty-free goods via Tmall.hk’s website or mobile app and retrieve their items at designated duty-free shops using their payment confirmation text or barcode when they finish their overseas trips.
IT News — A proprietary market management platform developed by Australia Post to help local small-to-medium retailers sell into the Chinese market has attracted more than 30 customers to the government enterprise’s books. The organisation last year partnered with software development firm MyMedia to build out a platform that would enable it to act as the middleman between local sellers and Chinese marketplaces like Alibaba, which AusPost signed a partnership with last year.
Times of India — BENGALURU: Flipkart has closed a funding round of $700 million (Rs 4,500 crore) at a valuation of $15 billion, scooping up capital for the first time this year as the battle for dominance in the Indian online retail market heats up. Existing investors including Steadview Capital participated in the latest fundraise, said two people aware of the development.
Amazon beat Q2 earnings expectations Thursday afternoon, sending the stock sky-rocketing. Growth in Amazon Web Services, the company’s profitable cloud computing business, soaked up much of the spotlight on the company’s subsequent earnings call, but there was one other topic that investors and analysts kept bringing up: India.