Just after the eight-day National Day golden week, the competition among Chinese e-commerce giants has begun - they are preparing for the upcoming annual Double 11 shopping festival.
Pinduoduo, China’s second largest e-commerce platform by traffic, recently announced that it would establish the “Cloud E-Commerce Alliance of Hairy Crabs in Yangtze River Delta”.
Chinese online retailer Vipshop reported sliding revenues and profit in the first quarter of 2020 as the COVID-19 pandemic disrupts logistic services and supply chains.
However, when their e-commerce rivals like Alibaba’s Taobao and JD.com were boasting about their inflated GMV numbers during the shopping festival, Pinduoduo took another approach.
Just as Alibaba celebrated their new record of $38.4 billion in GMV on the Singles’ Day shopping festival, rumors questioning the integrity of those numbers surfaced and circulated on Chinese social media platforms.
Alibaba’s annual 11.11 Global Shopping Festival has only just begun and it has already generated $12.0 billion in GMV (84 billion yuan) during the first hour since the event kicked off at midnight.
Alibaba Group kicked off its 2019 11.11 Global Shopping Festival, taking the annual celebration into its second decade with a focus on “new consumption,” “new business” and contributing to a greener society.
Retail giant Tmall Global launched its first English-language website to attract more merchants and businesses from around the world to join China’s largest cross-border online shopping platform.
Lazada is dominating the mobile shopping realm across Southeast Asia. App analytics and market data platform “App Annie” named it the number-one shopping app in Southeast Asia.
Lazada, a Southeast Asian e-commerce platform owned by Alibaba Group, held a cross-border e-commerce conference on Mar. 7, and announced a series of cross-border business strategy upgrade initiatives.
Daraz Group and its parent organization Rocket Internet SE have both announced today that the Chinese e-commerce giant Alibaba Group has acquired Daraz. Alibaba Group acquired the entire share capital from Rocket Internet for an undisclosed amount, making Daraz Group an wholly owned subsidiary under Jack Ma’s empire.
