Ant Group, the fintech affiliate of Alibaba Group Holding, will kick off a new round of dividend payments to all eligible shareholders and employees who hold equity incentives, according to reports this week by several state-owned Chinese media. The company’s new dividend distribution plan, which was approved during a recently convened shareholders meeting, was “formulated … Read more
New Delhi: Non-metro cities are leading the pack in India when it comes to growth in orders on e-commerce platforms, with at least 60 per cent of online orders coming from tier 2 cities and smaller towns, a report showed on Friday. Online shopping remains the preferred mode for 75 per cent of consumers. With … Read more
Lazada’s key advantage in Southeast Asia amid rising competition from new entrants such as PDD Holdings’ Temu and ByteDance’s TikTok lies in technology such as artificial intelligence (AI) and logistics, Lazada Thailand CEO Varitha Kiatpinyochai said on Friday. “With Lazada being part of the Alibaba Group, we can really leverage the best-in-class technology and ecosystem … Read more
ByteDance’s Douyin, the domestic sibling of TikTok, has emerged as a rising contender in the Chinese e-commerce market once dominated by Alibaba Group Holding and JD.com, despite slowing growth. The Beijing-based short-video platform, which has been aggressively expanding into the online shopping business, increased gross merchandise volume (GMV) by 46 per cent year on year … Read more
The next-day delivery for European Union countries includes a €2 (US$2.20) service for parcel deliveries to Spain and Portugal, the company announced on Tuesday during its 2024 Smart Global Logistics Summit in Hangzhou, capital of eastern Zhejiang province. A three-day delivery option, which costs from €3 to €5, is also available in other countries in … Read more
Alibaba Group Holding founder Jack Ma on Tuesday called on employees of the business empire he created in Hangzhou 25 years ago to “believe in the future” and “believe in the market”, as the e-commerce giant faces fierce competition on multiple fronts. According to his letter published on Alibaba’s internal website on Tuesday, marking the … Read more
Alibaba Group Holding’s plan to finally accept Tencent Holding’s WeChat Pay for purchases on its online marketplaces Taobao and Tmall is expected to help the e-commerce giant attract older consumers, as well as shoppers in lower-tier cities, according to merchants and analysts. Following Alibaba’s announcement to incorporate WeChat Pay, known locally as Weixin Pay, as … Read more
Simon, the nation’s largest owner and operator of shopping, dining, entertainment and mixed-use destinations, has revamped its e-commerce website for a much broader selection of sale priced items. Simon’s website is now called ShopSimon, which replaces Shop Premium Outlets. The expanded and rebranded digital marketplace will include on-sale and discounted merchandise, while continuing to offer … Read more
Mumbai: The government-run Open Network for Digital Commerce (ONDC) is now enabling more than 1.2 crore orders per month, with over six lakh sellers live on the network, it was announced on Tuesday. ONDC was awarded the prestigious gold award under the category ‘application of emerging technologies for providing citizen-centric services’ in the National Awards … Read more
Chinese e-commerce platform Pinduoduo will start removing sellers of counterfeit products from its multibillion yuan subsidy programme, as its operator – Temu owner PDD Holdings – and major rivals make operational changes in response to Beijing’s “anti-involution” call. Pinduoduo on Monday updated its rules for merchants taking part in its subsidy programme, stating that the … Read more
