E-commerce Tag

16 Apr Alibaba strengthens commitment to open-source development of AI models amid debate over this strategy

Posted at 11:30h in Asia

The e-commerce giant could have been “more aggressive in open-source [development]” over the past year based on the gains made by Tongyi Qianwen, according to Alibaba’s Lin Junyang, who is in charge of the model’s open-source buildout, in a WeChat post published on Monday. Alibaba...

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13 Apr Alibaba, navigating sea change, reorients business towards bread-and-butter e-commerce and AI, pares down overhaul

Posted at 02:00h in Asia

By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory...

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11 Apr China’s Suzhou city plans supercharged cross-border e-commerce business after Shein and Temu success

Posted at 14:00h in Asia

The hi-tech manufacturing hub of Suzhou has unveiled a plan to double the city’s cross-border e-commerce annually for the next three years, as it looks to tap into the growing influence of Chinese platforms such as Shein and PPD Holdings’ Temu.The municipal government of the...

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10 Apr ByteDance profit jumps 60% to US$40 billion, taking TikTok’s owner past arch-rival Tencent

Posted at 08:45h in Asia

ByteDance’s profit surged roughly 60 per cent in 2023, outpacing the growth of online peers Tencent Holdings and Alibaba Group Holding, in a sign of the TikTok owner’s resilience in the face of an economic downturn.Earnings before interest, tax, depreciation and amortisation jumped to more...

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10 Apr Jack Ma steps into ‘mistakes’ brouhaha to boost Alibaba’s morale, urges staff to embrace change and prepare for AI to upend e-commerce

Posted at 02:34h in Asia

Alibaba Group Holding has fundamentally changed its corporate culture to put customers first in its adaptation of technology, its co-founder Jack Ma wrote, as he stepped into a social media hubbub over the hubris that caused what was once the world’s largest e-commerce platform to...

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09 Apr Alibaba’s AliExpress pushes ‘10 billion yuan of subsidies’ campaign to entice more Chinese brands and merchants to sell in overseas markets

Posted at 11:30h in Asia

The campaign called “10 billion yuan of subsidies” – a typical mainland marketing phrase used to tout large online allotments – will be given to an initial batch of 1,000 Chinese brands and merchants, including those who have already opened a store on Alibaba’s domestic...

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08 Apr Chinese tech giant Lenovo targets US$16 billion in sales of new AI-powered computers, smartphones via e-commerce partner JD.com

Posted at 09:00h in Asia

The two Hong Kong-listed partners are targeting 120 billion yuan (US$16.6 billion) in sales over the 2024-2026 period via JD.com’s online and offline channels, covering Lenovo’s next-generation AI PCs, AI-powered smartphones, tablets and other “AI-oriented infrastructure such as servers”, according to a statement published on...

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07 Apr China e-commerce: how SoftBank-backed Firework aims to help mainland merchants sell directly in overseas markets

Posted at 10:10h in Asia

“Live-stream shopping in China is very influencer-driven. People watch live streams because they trust the influencer,” he said. “Whereas in the US, it’s still brand-focused. The relationship is between the brand and the customer, not an influencer.”Unlike mainland China’s influencer-driven live-streaming e-commerce segment, the direct...

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29 Mar Alibaba’s Taobao cuts fees for merchants and subsidises content as it seeks to protect its market lead, reports say

Posted at 00:00h in Asia

Alibaba’s Taobao cuts fees for merchants and subsidises content as it seeks to protect its market lead, reports sayTaobao, the main e-commerce platform of Alibaba Group Holding, has decided to increase subsidies and cut fees for merchants as China’s largest online marketplace moves to defend...

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28 Mar Alibaba-controlled hypermarket operator Sun Art appoints new CEO amid restructuring and rising competition

Posted at 13:00h in Asia

Sun Art Retail Group, controlled by Alibaba Group Holding, has appointed a new chief executive as the e-commerce giant continues to consolidate its retail assets amid a restructuring and rising market competition.Hong Kong-listed Sun Art, an online hypermarket business, said in a stock exchange filing...

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