Southeast Asia, as a rapidly developing emerging region, has always been a popular destination for Chinese enterprises to begin their global ambitions. In this region, Indonesia has the largest land area, economic scale and population, so it is often one of the focal points of expanding enterprises.
Suning.com and its logistics subsidiary became involved in a bankruptcy review case on November 21, triggering rumors about the e-commerce platform that has been struggling with a persistent debt crisis. This report was later officially denied by the company.
Around the same time as delegates convened in Egypt for COP27, the world's largest shopping festival "11.11 Global Shopping Festival" also kicked off. While sustainable consumption has long been on the agenda against global warming, challenges still persist.
Richard Liu, the founder of Chinese e-commerce giant JD.com, announced in an email to all employees on November 22 that starting from January 1, 2023, the cash salary of senior managers will be reduced by between 10% and 20%.
Ozon, one of the first e-commerce companies in Russia, will open a representative office in Shenzhen. The company plans to attract 100,000 Chinese merchants with operations on the platform and expand the transaction volume of goods from the country tenfold by 2024.
Cross-border e-commerce company Zibuyu Group was officially listed on the main board of the Hong Kong Stock Exchange (HKEx) on November 11, with Huatai International and ABC International serving as co-sponsors.
Richard Liu, the founder and former CEO of Chinese e-commerce giant JD.com, emphasized that low prices are the core competitiveness of the retail industry.
On November 10, news that TikTok Shop will be launched in US was finally confirmed. In order to register for TikTok Shop in the US, merchants will need to use a domestic mobile phone number and email address, or an existing TikTok account. An invitation code is also required.
Baozun, an e-commerce solutions provider based in China, announced on November 8 that it had signed definitive agreements to acquire Gap Greater China, the American clothing firm's regional division, in an all-cash transaction of $40 million.
Joybuy, a cross-border shopping platform owned by Chinese e-commerce giant JD.com, announced on November 4 that it will undergo a series of "business upgrades," while trading on the site has now ceased.
Alibaba features more than 290,000 brands for the 14th edition of its 11.11 Global Shopping Festival. This year, the internet giant has equipped merchants with tools and solutions to grow their brand loyalty membership programs to help them succeed during and beyond 11.11.
Following prior moves in the UK and Indonesia, ByteDance's TikTok is preparing to explore the Spanish e-commerce market, while several US merchants have participated in small-scale tests of TikTok's domestic online shopping platform.
Plum, a used luxury fashion e-commerce platform, announced on November 1 that it had completed a C round of financing worth $100 million. Zhuanzhuan, a Tencent-backed leading used goods trading marketplace in China, made the strategic investment.
Taobao and JD.com, two of China's leading e-commerce platforms, have recently announced the resumption of links connecting them with short video platform Kuaishou, mainly aiming at the annual Double 11 Shopping Festival.
Alibaba kicked off the 14th edition of its 11.11 Global Shopping Festival. The Chinese leading e-commerce player equips merchants with tools and solutions to secure business growth certainty for merchants during and beyond 11.11.
News that Chinese e-commerce giant JD.com's international business operations will undergo major adjustments has recently spread within the company. Certain business units in Europe and Southeast Asia will be most affected by the changes.
Chinese video content platform Bilibili on October 14 officially launched a new online shopping function within the livestreaming part of its homepage, ahead of the country's popular "Double 11" shopping festival.
An independent shopping channel has been set up within Toutiao, a content discovery platform owned by ByteDance. Users of the new service can purchase goods provided by Douyin's e-commerce business in the shopping channel by inputting keywords and placing an order.
ByteDance's TikTok has set a goal to reach 1.05 billion daily active users (DAUs) globally by the end of 2022. The popular short video platform currently has more than 800 million DAUs.
Kuaishou's e-commerce and commercialization divisions are preparing for the upcoming Kuaishou November 6 (116) Shopping Festival, and the effect of this round of adjustments will also appear after the shopping event.