Chinese e-commerce giant Alibaba Group Holding Ltd is expected to post its weakest quarterly revenue growth on record, Thomson Reuters data shows, a slowdown analysts say will heat up the battle with smaller rival JD.com Inc in a tougher economy.
Alibaba's revenue for the quarter ending December is projected to grow at 26.6 percent, according to a Thomson Reuters SmartEstimate survey of 28 analysts, which would be the slowest rate since the company started publishing such data 3-1/2 years ago.
Jualo, an Indonesian online marketplace for secondhand goods, has received millions of dollars worth of investment funds from NSI Ventures, a unit of Indonesia-centric venture capital Northstar Group, bolstering the startup's efforts to tap into the country's growing population of online shoppers.
The undisclosed Series A funding, which is typically given to startups at an early stage of development, will be used to hire more talent and expand the business over the next 18 months, according to a statement received by the Jakarta Globe on Monday.
Matahari Department Store, Indonesia largest retailer, has doubled its shares in Global Ecommerce Indonesia, the parent company of local e-commerce firm MatahariMall.com, the company said in a statement.
Matahari spend IDR179 billion (USD12.9 million) to increase its shares in GEI to 10.33 percent in the past six months from 5.16 percent earlier, in order to strengthen its presence in Indonesia's booming e-commerce market, the company said in a statement on Friday.
Unlike US online shoppers, who prefer using Amazon for a myriad of purchases with their credit card or PayPal, Southeast Asians are more likely to shop through Facebook groups and pay via bank transfer.
Keeping this in mind, Thailand's StylHunt wants to offer locals the type of experience that someone using an established, large-scale ecommerce portal gets. Its mobile app enables search and discovery of online vendors based on the trust they enjoy on social media. The startup says that this way, shoppers can find what they want faster and more easily.
The Indonesian government will launch a long-awaited road map at the end of this month in a bid to nurture e-commerce business in the country and keep pace with the high growth of online trade, a minister said.
Communication and Information Minister Rudiantara said the government has prepared initiatives to be included in the e-commerce roadmap.
Flyrobe, a Mumbai-based online fashion rental service, is taking the fashion world by storm. Launched in September last year by a bunch of IT graduates, the startup claims to have transacted with 1,000 customers already, and closed 2015 with 100 customers on a single day – when it was just 15 weeks old.
Indonesia's largest retailer for fashion apparel, beauty and home products, Matahari Department Store (MDS), has raised its indirect ownership in online marketplace mataharimall.com to further broaden its business reach through e-commerce.
MDS said that it had recently acquired 4.4 million shares in PT Global Ecommerce Indonesia (GEI) worth about IDR53 billion (USD4.2 million) in a transaction that raised its stake in GEI to 5 percent from 1.99 percent.
According to industry reports, e-tailers in India were expected to account for 40 percent or USD7 billion of their annual sales during the festive season between October and December 2015. Much of this shopping was expected to take place on mobile devices, currently estimated to generate sales in the range of USD30 million, and take the total e-commerce market to a whopping USD16 billion.
Indian online-only menswear fashion brand Teesort.com is planning an overseas foray through multiple channels. While the Delhi-based company is in talks with Amazon for overseas launch in the US and the UK markets, it is also talking to potential local partners in West Asia for a launch in the region.
Indonesia's e-commerce industry is projected to rake in IDR20 trillion (USD1.46 million) next year, double this year's estimate of IDR8 trillion to IDR10 trillion as internet and smartphone penetration in Southeast Asia's largest economy continue to rise, according to an industry group.