Jack Ma, founder and chairman of Chinese ecommerce behemoth Alibaba Group Holding Ltd., announced he will step down in September 2019, to be succeeded by Alibaba Group CEO and chairman Daniel Zhang. Ma will continue as executive chairman during the transition period.
Despite some forecasts projecting a slowdown in ecommerce in China, a new report from Goldman Sachs sees the world’s largest online market continuing to boom over the next four years. The report pegged Chinese ecommerce sales at $750 billion in 2016 sales, coming from 460 million online shoppers, and projects a CAGR of 23% through 2020 – nearly triple the rate of offline sales. See what categories and companies are leading.
Alibaba Group Holdings Limited announced record-breaking sales of $17.8 billion on Singles Day from Thursday into Friday, up 32% from $14.3 billion in 2015. See how mobile played a part in the overall success of Singles Day and how rival competitor JD.com did on Singles Day.
Alibaba Group, an online and mobile marketplace, and New Zealand Trade and Enterprise, the New Zealand Government’s international business development agency, signed a Memorandum of Understanding (MOU) to formalize discussions for strengthening trade between China and New Zealand and support the growth of New Zealand brands in China. See what this means for the marketplace and how it will impact New Zealand and China.
The partnership will enable BorderGuru‘s U.S. and European clients to efficiently ship products sold on Alibaba’s popular TMall Global online marketplace to Chinese customers. In collaboration with Cainiao, BorderGuru will manage the entire cross-border shipping process.
Alibaba says it is doing all it can to keep on top of security issues that affect its ecommerce merchants, after a published report noted that an Israeli firm in late October found a security flaw in AliExpress, the company’s English language ecommerce site.
While Chinese ecommerce giant Alibaba reported that Singles Day 2014 – 11.11 – the world’s largest shopping day, brought in more than $9.3 billion in sales, up 62% from 2013, the global phenomenon has yet to make a significant impact in the U.S.
Ahead of Singles Day 2014, the Chinese government is warning ecommerce firms, including Alibaba and JD.com, to do all they can to keep all transactions free of fraud. The warning was issued based on numerous consumer complaints from past years.
When I was setting up our MCM Global Ecommerce newsletter, I was trying keep a balanced list of our top global articles and couldn’t help but see so many of them were about companies making active plans to go into the Chinese market.
Known as ePass, the new service combines Alipay’s cross-border foreign currency settlement capability with overseas delivery solutions from China Smart Logistics Network. It offers retailers access to e-marketing options from Chinese online ad network Alimama.