AI investment has boosted the company’s revenue in search and recommendation scenarios, Chen said, and helped increase the frequency with which shoppers repurchase products on the company’s e-commerce platforms such as Taobao and Tmall. Alibaba’s June quarter was a mixed bag. The company reported 4 per cent year-on-year revenue growth to 243.2 billion yuan (US$33.5 … Read more
“Our results this quarter demonstrated our strategy at work. Our focus on enhancing user experience by offering quality products at attractive prices with great service led to stabilising market share of Taobao and Tmall Group as we returned the business on the growth trajectory,” Alibaba CEO Eddie Wu Yongming said in a statement on Thursday. … Read more
Huawei Technologies has made a rare price cut for its Pura 70 smartphones, three months after the series hit the shelves, following a strong performance by the brand during China’s 618 midyear shopping festival. All models in the Pura 70 series are on sale for a nearly 10 per cent discount, meaning the top-of-the-line Ultra … Read more
Douyin, the Chinese version of TikTok, led all other platforms with a 26.2 per cent surge in GMV, followed by Pinduoduo’s 17.7 per cent and Kuaishou’s 16.1 per cent. Alibaba and JD.com saw GMV grow 12 per cent and 5.7 per cent, respectively, according to Analysys. Workers sort parcels at an express logistics company in … Read more
Alibaba Group Holding is pushing CEOs to live-stream on its domestic e-commerce platform Taobao, as the tech giant ramps up efforts to win back consumers from rising rival Pinduoduo and other budget-focused platforms during China’s midyear shopping festival. Taobao launched a new live-streaming service on Wednesday that features business executives looking to promote their companies … Read more
About 185 brands – including major smartphone vendors Apple, Xiaomi and Huawei Technologies – have each achieved more than 100 million yuan (US$13.8 million) in gross merchandise value, while 37,000 other brands doubled sales year on year as of 9pm on May 31, the latest data released by Alibaba e-commerce unit Taobao and Tmall Group … Read more
The novel system, which Pinduoduo rolled out on Wednesday, provides merchants on the platform a fast and intelligent way to “keep pace with [the pricing strategy of] competitors”, according to a report by Chinese digital media DoNews on Thursday. The system, for example, will automatically adjust the online prices of its user as soon as … Read more
Alibaba Group Holding and other e-commerce operators have released encouraging early sales data from their midyear 618 promotions – China’s biggest shopping season after Singles’ Day, and a bellwether of consumer sentiment in the world’s second-largest economy. Four hours after Alibaba’s Taobao and Tmall shopping platforms launched their sales event at 8pm on Monday, 59 … Read more
Alibaba Group Holding’s Taobao and Tmall Group is working with ByteDance-owned Douyin to attract users from the Chinese short video platform, as the e-commerce giant spends hundreds of billions of yuan for its promotions in the mainland’s annual midyear shopping festival. The domestic e-commerce unit of Alibaba, which also owns the South China Morning Post, … Read more
