Alibaba set another Singles Day record this year on 11/11/19, recording $38.4 billion in gross merchandise value (GMV) during the 24-hour promotion created as a reverse spin on Valentine’s Day 10 years ago, up 25% from last year. By comparison, Adobe is forecasting $29 billion in total ecommerce sales for Cyber Weekend 2019.
Amazon and Walmart will continue to slug it out atop the world of global e-grocery food sales, with the ecommerce giant projected to pass the world’s largest brick-and-mortar retailer by 2024 with revenues of $15 billion, compared to $14 billion, according to a new report from research firm Edge by Ascential. The projected CAGR through 2024 is 13%.
After beefing up its grocery delivery chops here, including automated kiosks and crowdsourcing, Walmart is now testing same-day grocery delivery to customers in China through a hookup with WeChat and delivery service Dada. This is separate from Walmart’s partnership with JD.com, although both have invested in Dada.
Five major U.S. retailers who sell on Alibaba’s Tmall marketplace have reportedly run into headwinds when they refuse to sign exclusive agreements with the Chinese ecommerce giant. See what this dustup means for the parties involved, and how rival JD.com has been making hay over merchant issues with Alibaba.
Alibaba Group Holding Ltd. is investing $2.9 billion in China’s largest “hyper-market” or superstore company, Sun Art Retail Group, in a move there against Walmart and its partnership with Alibaba rival JD.com. This is yet another chapter in the growing “clicks-to-bricks” trend, including Amazon’s Whole Foods acquisition.