U.S. Black Friday Versus Chinese Double-Eleven Day

Black Friday, the kick off to the holiday season for brick-and-mortar retailers, has been envied, and then been borrowed and repainted into the Cyber Monday by U.S. etailers. Black Friday in this year recorded more than US$ 1.04 billion in sales, according to comScore. As for Cyber Monday, sales is expected to hit US$1.5 billion. Eyeing the year-end spending spree across the pacific, Chinese…

2011.11.11, $820m Transaction Volume, the Miracle Day for Taobao and TMall

2011.11.11 is named the "Super Singles Day" in China as you have to wait another 100 years to see next 11/11/11. I don't know why this date's getting so special, but people including couples did celebrate it for fun and it did bring huge commercial opportunities. The online shopping platform, Taobao and TMall has just done a superb job, and you could even call it a Miracle. Read more

Shanghai, Alibaba, and Ant Financial sign new strategic partnership agreement

A display for Singles' Day, one of the biggest online shopping days in China Shanghai, Alibaba, and Ant Financial have signed a strategic cooperation agreement to boost the integrated development of the Yangtze River Delta. According to local media reports (in Chinese), under the new partnership agreement, Alibaba will ramp up its new retail efforts in Shanghai. Alibaba founder Jack Ma revealed…

Ant Financial is more than just a financial tool

Ant Financial Service Group has recently raised $14 billion in what is believed to be the world's largest-ever single fundraising. The company has gained attention from global media and capital markets. But the as the company offers a plethora of financial and mobile payment tools, one may ask, is it a financial company or a technology company? At TechCrunch Hangzhou 2018, Hu Xi, Deputy CTO of…

JD.com grossed RMB 160 billion in its mid-year sale with the help of physical stores

China’s e-commerce platform JD.com reached RMB 159.2 billion in sales during its annual 618 Shopping Festival, which occurred between June 1 and June 18. The company said transactions were up 37% compared with the same period last year, and more than 90% of the orders from JD’s self-operated stores achieved same-day or next-day delivery, thanks to automated devices. This was also the first time…

Looking forward by looking back: TechNode English in 2017 and 2018

2017 was a pretty amazing year for TechNode English and the entire company. We more than doubled our English editorial team, increased our output from 1-2 stories every 1-2 days to consistent news, updates, and a plethora of newsletters, as well as increased the overall quality of our content (even if it's still not perfect!). Because of these changes, 2017 has seen record traffic numbers,…

Wake up: The time for sustainability in the luxury industry is now

November 11 hosts one of the largest retail events in the world–11.11 also known as Singles’ Day. A total of over $38 billion was made through online discount sales–with 331 million packages being delivered by various postal and courier businesses. In 2017, Alibaba made a whopping $25 billion in purchases–a 40% increase from the 2016 sales, totally crushing the total sales of Black Friday and…

Alibaba spends $2.88bln to partner with Auchan in new retail collaboration

After breaking another record with RMB 168.2 billion (more than $25.3 billion) in GMV achieved in 24 hours on Singles' day, Alibaba is touting its foray into its new retail strategy as it announced today a strategic alliance with Auchan Retail S.A. and Ruentex Group that brings together their online and offline expertise to explore new retail opportunities in China’s food retail sector. The…

Alibaba says they have “no tolerance” for fake transactions

Last year, an investigative report about China’s illegal market of “empty package scalping” (空包刷单) was released by The Beijing News (link in Chinese) which we also covered. It explained how shop owners on Taobao and Tmall inflate their sales statistics though fake package deliveries by using “empty package” service websites and delivery services. So how does Alibaba keep merchants from falsifying…

Here are 4 new retail spots you can visit in Shanghai

New Retail is the trend in China right now. Before November 11st Singles' day, a day when Chinese spends the most in a year, Chinese e-commerce titan Alibaba flexed its muscles on both online and offline channels. We will tell you four destinations in Shanghai that you can visit to get a glimpse of China's fast changing retail stores. Fresh food? Go to Hema Hema (Image Credit: TechNode)…