Digital payments in China are processed by scanning QR codes at the point of sales which link to the customer’s bank account in China. China’s mobile payments were 58.8 trillion yuan in 2016. Xinhua News reported that consumers in China’s third-party mobile payment market spent a total of $3.46 trillion (23 trillion yuan) in mobile …
Exotec Solutions, a French AI robotics startup, today announced the launch of the Skypod Robots and associated system. Cdiscount, the top French e-commerce vendor, is now using Skypods to prepare orders in its warehouse near Bordeaux, increasing their order processing speed by x4. With the system, Cdiscount is able to handle 400 picks per hour …
China ranked second after the United States in an internet development index released on Monday that gauges six dimensions from internet infrastructure to application among 38 countries. China has the largest number of internet users and is the world’s top e-commerce and mobile payment market by transaction volume, according to the Global Internet Development Index, …
Alibaba Group Holding Limited (NYSE:BABA) announced that US$25.3 billion (RMB168.2 billion) of gross merchandise volume (GMV) was settled through Alipay on November 11, 2017, (Single’s Day) an increase of 39% compared to 2016. Mobile GMV settled through Alipay accounted for 90% of total GMV. The most recent quarter Alibaba’s revenue surged by 61 percent thanks …
x-VP of Alibaba Porter Erisman has written a book. Six Billion Shoppers. He explains the rise of Alibaba and how ecommerce is different in China and India. From China to India to Nigeria, e-commerce is entering a golden era in countries that were long left out of the e-commerce gold rush experienced in the West. …
Chinese cross-border e-commerce transaction reached 6.7 trillion yuan ($1.01 trillion) in 2016, up by 31.6 percent, chinanews.com reported Sunday, citing an index released at a forum held in Shanghai. The Chinese Cross-Border E-commerce Index also predicted that by 2018, value of China’s import and export transaction via e-commerce, including retail and business-to-business, might hit 8.8 …
The Washington Post notes that robotic warehouse automation at an eCommerce company meant more jobs with a third shift at a company called Boxed. They happily note that the robotic warehouse ecommerce company is hiring. The job losses are at the companies the ecommerce companies are killing. Michael Mandel, an economist at the Progressive Policy …
A five-floor mall is being built near Alibaba’s headquarters in the eastern Chinese city of Hangzhou, according to financial news site Caixin. The Alibaba shopping center reportedly will be called “More Mall” and is set to open in April. The mall was built on a 40,000-square-meter plot of land. Currently, construction crews are finishing up …
Alibaba is now up 89% on the year and valued at $424 billion. Tencent is up 74% and valued at $469 billion. Alibaba’s “China commerce retail” revenue, which covers its giant Taobao and Tmall marketplaces and still accounts for 73% of its revenue, grew 57% to RMB36.7 billion ($5.4 billion), a big improvement from the …
Amazon, which currently charges a $99 annual fee for two-day deliveries under its “Prime” service, will eventually offer two-tier pricing for delivery services, Jindel said. One will be a “Gold Prime” membership costing $199 to $249 a year that covers next-day deliveries, the other a platinum membership for $399 a year that includes same-day deliveries. …