In today's O2O era, mobile apps have become a popular shopping channel for customers. Retailers are putting more efforts in devising their mobile strategies. One recent O2O trend is the application of shopping apps in selected shopping malls and department stores. Thanks to new retail technologies such as location-based beacon technology, retail operators in China can leverage mobile shopping apps to understand consumer in-app behaviour and provide better shopping experience.
E-commerce giant Alibaba said Thursday that Chinese and international consumers spent more than USD14 billion in the world's biggest online shopping day, as it sought to soothe worries over China's slowing economy.
The November 11 "Singles Day", which fell on Wednesday, has evolved into the globe's biggest online shopping festival since Alibaba began using the date in 2009 to promote sales through its platforms.
China's online retailer JD.com will shut down online customer-to-customer (C2C) marketplace Paipai.com in three months in order to fight fake goods.
The online retailer said the decision to close Paipai.com, which was previously operated by Tencent but merged into JD.com after Tencent bought a 15 percent stake in the online retailer last year, came after countless efforts to fight counterfeits on the 2C platform proved futile.
Digital mobility has evolved quickly from being a desire to becoming a necessity, and connected devices have become the most popular medium for people to search for information online. According to a survey by Aruba Networks, 83 percent of respondents in survey prefer relying on their smartphones and tablets for their online searches.
Indians are estimated to spend about USD9 billion this year shopping online for everything from smartphones to cupcakes. The nation's stock market regulator wants them to add another product to their shopping cart: mutual funds.
The Securities & Exchange Board of India plans to change its regulations to allow online marketplaces such as Flipkart Online Services and Amazon.com to offer funds alongside other products, Chairman UK Sinha said in an interview at his office in Mumbai.
Online retailer Lazada Indonesia remains optimistic of strong growth in Indonesia's e-commerce sector ahead of a one-day campaign expected to welcome five million shoppers to the site.
"Everyone is aware that Indonesia is facing sluggish growth, especially for retail. However, e-commerce remains a strong industry," Magnus Ekbom, the company's chief executive, said at a press event in Jakarta on Thursday. "The growth was phenomenal in 2014, and we continue to see strong development in 2015," he said.
The e-commerce penetration rate in China is seen to at least double by 2020 as young people become the major force behind domestic consumption, Credit Suisse said.
The penetration will surge to more than 20 percent in 2020, according to Credit Suisse estimates. The rate was 10.7 percent last year, above the 7.6 percent in the US and around 5 percent in Japan.
Word this week that Amazon is considering launching its own line of clothing has divided fashion industry analysts, with some saying such a move into a crowded and competitive marketplace would be risky, while others saying it could usher in a new era in personalized clothes shopping.
The possibility that the mammoth online retailer, worth nearly USD54 billion, may be branching out even further in the e-commerce game first surfaced Tuesday at the WWD Apparel and Retail CEO Summit.
More than 40 percent of goods sold online in China last year were either counterfeits or of bad quality, the official Xinhua news agency said, illustrating the extent of a problem that has bogged down the fast-growing online sector.
According to the report, which was delivered to China's top lawmakers on Monday, just under 59 per cent of items sold online last year were "genuine or of good quality", Xinhua said.
Singapore saw the highest growth in consumer confidence among South-east Asian countries in the third quarter, according to the latest Nielsen Global Survey of Consumer Confidence and Spending.
The survey put Singapore's score at 101 points, above the global average of 99. Worldwide, it was the 12th most optimistic country.
The Nielsen consumer confidence index measures perceptions of local job prospects, personal finances and immediate spending intentions, polling over 30,000 respondents in 61 countries. A reading above 100 suggest optimism and below 100, pessimism.