In many markets, Black Friday is now bigger than Christmas, shows data from a GfK POS study. The combination of Black Friday, Christmas and post-Christmas account for one-fifth of all annual sales. This is an increase of 6% compared to 2018. The study provides insight from 27,000 shoppers (aged 15+) about how shopping is evolving across FMCG, Tech and Durables and Other
Alibaba Group Announces Q4-2019 Results
Chinese e-commerce giant Alibaba Group announced its financial results for the quarter ended December 31st, 2019. The company experienced robust growth across its business in the past quarter. Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group, comments: "Our digital economy reached new heights with another record 11.11 Global Shopping Festival for our
SEKO Logistics aquires cross-border e-commerce specialists, Air-City, Inc.
SEKO Logistics completed its largest-ever acquisition with the purchase of New York-based freight forwarder and cross-border e-commerce experts, Air-City, Inc. The investment represents the latest phase of SEKO’s program to expand its global footprint and establishing more strategic partnerships. The acquisition is made to expedite the growth of its three core services;
Amazon opens pop-up store on China’s Pinduoduo until the end of 2019
Amazon.com on Monday said it will open a pop-up store on Chinese e-commerce platform Pinduoduo. This store will run until the end of December and carry a selection of about 1,000 products from overseas. The move, initially reported by Reuters on Sunday, points to how Amazon's China-strategy is evolving. Earlier this year, it already decided to stop operating a marketplace
Singles’ Day records smashed in 2019
After 24 hours of intense buying and selling, along with weeks of advertising the promote the event, the Chinese market is calming down after another record-breaking Singles' Day. The Alibaba Group, once more, realised a higher sales turnover than in the previous year. The Chinese e-commerce platform sold goods worth 268 billion Yuan, $38.4 billion dollars. This is an