Alibaba is working on entering the European market. To provide a better service, they will open a European hub in Liege, Belgium. The Chinese marketplace giant has reserved 75 million euro for the creation of this hub. Wednesday, December 5th, contracts were signed. In the deal, it is agreed that Alibaba will have 220.000 square meters available at Liege Airport. The first
Alibaba: king of the holiday season
Tamebay.com reports that Alibaba, the most powerful, well-known Chinese marketplace platform, is the absolute king of the 2018 holiday sales. Comparing the United States versus Alibaba Holiday sales for 2018, Alibaba’s Single’s Day beat all four American Cyber weekend sales combined. Adobe tracked sales in the United States during Thanksgiving Day, Black Friday ($6.2
Investors slightly disappointed in growth JD.com
Alibaba's biggest competitor, JD.com, finished its third quarter with a total turnover of 15.3 billion dollars. Net profits were about 0.4 billion. Despite these results, investors were disappointed in the growth of the online platform. It was the lowest growth since JD.com entered the stock market four years ago. Now that competition in the Chinese market is rising, JD.com has
New records Alibaba’s Singles Day
As expected, Alibaba has realised a record turnover during Singles Day last Sunday. In total, a turnover of 31 billion was generated that day, a 27% year on year growth. As the Chinese Yuan has a weaker position compared to the dollar in respect to a year earlier, online retailers had to sell more products to reach the new record. In the first 90 seconds, products with a total
Forecast: e-commerce in China to value $1.8tn in 2022
According to Tamebay, a new report by Forrester called 'Ecommerce in China, Trends and Outlook for the Largest Ecommerce Market in the World', states the value of e-commerce in China is predicted to reach $1.8tn in 2022. It means that the Chinese market will be worth twice as large as that of the United States. At the same time, it is predicted to be ten times more valuable