Almost 25 percent of India’s total demand for warehousing space in 2014 were driven by e-retail, findings of CBRE’s latest special report, “India Online Retail Driving Realty” shows. Transactions worth more than 3.5 million sq. ft. of office space either closed or in various stages of negotiation by leading e-tailers by the end of 2014, a growth of more than 400 percent year-on-year. Bangalore, Chennai, Gurgaon and Mumbai are among the most preferred tier I markets for e-tailers for both office and warehousing space.
Thailand’s rising ecommerce conglomerate WhatsNew Group has today announced the acquisition of one of Thailand’s top online lifestyle stores, MOXY, for an undisclosed sum. It will be Ardent Capital-backed WhatsNew’s fifth ecommerce store, joining its other holding companies Petloft, Venbi, Sanoga, and Lafema. The acquisition will essentially “add a leading lifestyle vertical and expand its [Whatsnew] product selection beyond commodities,” according to a statement.
Chinese developer Dalian Wanda Group’s e-commerce unit is expected to begin operations later this year. The company is taking a different approach to competing with the industry leader Alibaba, reports Guangzhou’s Time Weekly. Following Wanda’s initial public offering in Hong Kong on Dec. 23, the largest in Asia in 2014, the property developer was once again in the news when its e-commerce unit received investments worth 1 billion yuan (US$161 million) from two investment funds on Jan. 4.
According to a new report from China’s Ministry of Commerce, the Middle Kingdom’s ecommerce markets racked up RMB 13 trillion (US$2 trillion) in transactions over the course of 2014. That’s growth of 25 percent compared to 2013. Those numbers include online B2B transactions and sales from online retailers as well as the sales on ecommerce platforms like JD and Tmall.
BEIJING — China’s e-commerce boomed in 2014 with transactions reaching around 13 trillion yuan (US$2.09 trillion), the government said Wednesday, as Beijing looks online for new drivers of growth. The commerce ministry did not define transactions, beyond saying that the term included both business-to-business and retail transactions. Spokesman Shen Danyang said in a statement that they grew 25.0 percent year-on-year in 2014.
Ecommerce giant Rocket Internet and Philippine telco PLDT are on a roll. The partners are setting up another joint venture, this time for online business development in the Philippines. This comes just two weeks after the duo signed an agreement to form a 50-50 venture for online and mobile payment solutions, with a focus on emerging markets. In a joint statement today, Rocket and PLDT said they will set up the Philippines Internet Group (PHIG).
NEW DELHI: Technology giant IBM today unveiled the z13 mainframe servers, which will provide real-time encryption on all mobile transactions, targeting e-commerce and m-commerce firms in India. z13 is the first system able to process 2.5 billion transactions a day. Its transactions are persistent, protected and auditable from end-to-end, IBM said in a statement.
Money_CashIndian online retailer ShopClues has raised US$100 million in a Series D funding round led by Tiger Global and two of its existing investors, Helion Venture Partners and Nexus Venture Partners. This is yet another big bet made by Tiger Global on the Indian ecommerce sector. The New York-based investment firm has so far put money into Flipkart, real estate portal CommonFloor, and messaging app Hike – among others.
NEW DELHI: Optical fibre maker Sterlite Technologies is transferring its retail Internet business to Spectranet but will continue with its core business of laying cables for telecom services. “We were offering Internet services to about 150 customers as proof of concept which we are now transferring to Spectranet. They will get uninterrupted services from Spectranet now,” Sterlite CEO Anand Agarwal told PTI.
SAN FRANCISCO/BEIJING/SHANGHAI: China’s Alibaba Group Holding Ltd plans a major move to win US business this year, by offering American retailers new ways to sell to China’s vast and growing middle class. Anchored by Alipay, the dominant Chinese electronic payments system that works closely with Alibaba and is controlled by its executives, the world’s largest Internet retailer is using the calling card of China’s consumers to attract US partners, two sources close to the company told Reuters.
Chinese Internet portal NetEase.com announced the public testing of its cross-border e-commerce platform Kaola.com, which currently provides maternal and child products, food and health care products, cosmetics and personal care products, and overseas direct mail service. New users can directly login to the website with their NetEase accounts. The definite date for emergence from the beta testing has not been released.
New Delhi: It was Micromax vs Xiaomi on retail websites on Tuesday, with both running successful flash sales of smartphones on e-commerce sites at the same time. In terms of customer satisfaction, Xiaomi buyers not only picked up more devices but also experienced hassle-free transactions. Micromax’s wholly-owned unit Yu Televentures, which introduced Yureka smartphones on Tuesday, offered and sold out 10,000 devices priced at Rs 8,999 each within three seconds on Amazon.
In an announcement publicized on Tuesday, China’s Ministry of Industry and Information Technology (MIIT) announced that the country is loosening regulations in its Shanghai Free Trade Zone, and will now permit wholly-foreign-owned companies to operate within that zone in the “online data processing” and “transaction handling” industries. The announcement specifically states that this includes ecommerce companies.
According to Korean newspaper Dong-A Ilbo (via Techweb), Chinese ecommerce giant Alibaba is planning to invest US$460 million into the creation of an “Alibaba Town” facility in Incheon, Korea. Alibaba is reportedly working in collaboration with the Incheon City government, which will also put US$460 million into the facility if a space for it is found. But that could take some time: once it’s completed, the facility will be 1 million square meters in size.
INTERNATIONAL Data Corporation (IDC) expects the Asia Pacific mobility market to continue experiencing strong growth in 2015 as mobile takes centrestage for business growth in both consumer and enterprise markets. “The conditions couldn’t be better for strong mobility growth in the Asia Pacific region in the coming year,” said Ian Song, research manager for Enterprise Mobility at IDC Asia/Pacific.
Flipkart is reportedly exploring ways to reduce delivery times to as little as three hours. The Indian ecommerce company is working on the logistics and evaluating the kind of products that can be a part of the initiative. It could introduce this service in three to four cities as early as July this year. The customers are, of course, expected to pay extra for the services, but it is a service that could be used in emergencies. Flipkart currently offers same day delivery in 10 cities, for INR 140 (US$2.20) per item.
Today Wanda Group, the Chinese commercial real estate firm best known for its movie theater chains, announced that its joint ecommerce venture with Tencent and Baidu closed a RMB 1 billion (US$161 million) funding round. The two investment funds, Xude Rendao and Centec Networks, will take 2 percent and 3 percent equity in the company, respectively. Wanda Group states that Tencent and Baidu now each hold a 15 percent stake in the venture, which is now valued at RMB 20 billion (about US$3.2 billion).
MUMBAI: Smile Group, one of the earliest Indian firms to foray into e-commerce, is restructuring its businesses in a bid to make a comeback in the sector in 2015. The owners of flash sales site FashionandYou plans to change the business model of its group buying site DealsandYou as part of the restructuring exercise. It has also shuttered its online footwear store BeStylish.
NEW DELHI: The average annual spending of Indians on online purchases is expected to rise 67% to Rs 10,000 next year, according to a study. Currently, online shoppers spend around Rs 6,000 a year on average, said the Assocham-PwC study. About 40 million consumers purchased something online this year and the number is expected to grow to 65 million by 2015 with better infrastructure in terms of logistics, broadband and internet-ready devices.
India’s homegrown ecommerce leader Flipkart just announced another whopping funding round. This time, it raised US$700 million investment from new investors Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates, and Qatar Investment Authority, along with existing investors DST Global, GIC, ICONIQ Capital, and Tiger Global.