Enterprise Innovation — China will lead the Asia-Pacific region in online spending this holiday season with $150 billion in sales forecast, new research from Adobe Digital Index reveals. China’s booming economy has led to the highest anticipated online spend in the region (55 percent), with nearly half of the country’s consumers surveyed (49 percent) predicting an increase in their online spend for the period.
Gross merchandise volume for Alibaba Group’s 11.11 global shopping festival reached $14.3 billion this year or 60 percent higher than last year’s sales of $9.3 billion. In the first 90 minutes alone of the 24-hour online shopping marathon, the Chinese e-commerce giant said $5 billion of GMV was already settled through Alipay, 70 percent of which were on mobile.
Tech in Asia — The clock has struck midnight, and China’s massive Singles Day shopping sale has finally come to a close. We already know it’s been a banner day for everyone from Alibaba to JD and Xiaomi, but now the final tallies are coming in. And Alibaba’s is massive. According to the company’s official Weibo account, Alibaba raked in US$14.3 billion (RMB 91.2 billion) in yesterday’s sale. That’s a very impressive step up from last year’s US$9.3 billion total, even if it isn’t quite the US$15 billion benchmark many of us were expecting after the day started off so strong.
Tech in Asia — Although we don’t have a total number for the entire country yet, it seems certain that yesterday was the biggest online shopping day in the history of the world. (If that sounds hyperbolic, go read about how much Alibaba sold). But what were people actually buying? Xiaomi stuff, apparently. Of course, people buy tons of things on Singles Day. But the Chinese smart hardware startup has announced that Xiaomi was the number one overall vendor on Alibaba’s Tmall platform for the third year straight.
China Tech News — Alibaba Group’s performance for the third quarter of 2015 shows that the group’s revenue reached CNY22.171 billion during the reporting period, a year-on-year increase of 32%; its profit after non-GAAP adjustment reached CNY9.252 billion, a year-on-year increase of 36%; and its gross merchandise volume reached CNY713 billion, a year-on-year increase of 28%.
China Tech News — Chinese B2C e-commerce platform Tmall.com and China National Petroleum Corporation’s Hunan branch will integrate their resources to launch a mobile payment service model. Tmall.com, which is a subsidiary of Alibaba, said that the company will integrate Alibaba’s ecosphere to help CNPC Hunan implement an “Internet Plus” transformation that includes an online store, mobile payment, big data prediction abilities, and O2O services.
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.
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.
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.
China Tech News — Alibaba is working directly with foreign embassies in China to expand its influence and sales potential around the world. The e-commerce company has opened 11 official country pavilions on its Tmall Global platform and cooperative partnerships between Juhuasuan, Alibaba’s group-buying platform, and 26 foreign embassies in China. A total of 11 countries will launch country pavilions on Tmall Global, an extension of Tmall.com China’s largest third-party B2C platform for brands and retailers.
If you can’t beat ‘em, join ‘em? That might be the case for Tencent when it comes to ecommerce. Despite a long-standing rivalry with Alibaba, the company has set up shop on Tmall, Alibaba’s online department store. As Techweb reports, the store contains a selection of Tencent or QQ-branded hardware, including a glucometer, a wifi dongle, a robot that can “chat” and play music, a bluetooth speaker set for kids, and a pairable projector and remote-control pen.
In the China market, B2C online shopping web portals generated total transactions of CNY320.47 billion (US$51.49 billion) during second-quarter 2014, growing 23.7% sequentially and 72.4% on year, according to Analysys International.