Lippo Group announced yesterday its big bet on ecommerce with the launch of its US $500 million massive ecommerce venture MatahariMall, the online version of one of the nation’s biggest mid-priced department stores.
Rakuten CEO Hiroshi Mikitani has announced, at the Rakuten Financial Conference 2015, held for first time this year in Tokyo past Monday, his conglomerate's intention to "probably" accept bitcoin at some stage. He revealed first time his interest in the virtual currency in a speech last July.
Hepsiburada, the market leader in the Turkish online retail sector and the largest e-commerce player in EEMEA - Eastern Europe, Middle East, Africa - and Russia by revenue, net $ 358 billion (TL 1 billion), has received a capital injection from Dubai’s Abraaj Group, a leading investor operating in global growth markets, announced Abraaj on Sunday.
Target has lowered the minimum online order size needed to get free shipping by half, in a bid to squeeze archrivals Wal-Mart Stores, Amazon.com and Best Buy. The move is the latest one taken by Target to stop being what its executives call a “fast follower” in e-commerce — a company that lets others set the agenda and quickly mimics their pricing — and take the lead. That comes after past holiday season being the first in its peer group to offer free shipping.
Otto Group predicts 2.5% online sales growth for the year ending February 28, around €4.1bn (£3bn), far below than its main pure online competitors like Zalando or Amazon which have posted a 26% and 13% increase in sales respectively, as published by RetailWeek.
Shop Direct looks is trying to exceed rivals' expectation in the luxury sector with VeryExclusive.co.uk launch, announced the company yesterday.
While offline retail chains are in a rush to open online stores trying not to lose the ecommerce boom in the country, pure online retailers like MakeMyTrip, CarTrade, FirstCry,FabFurnish and Lenskart are planning to lure more customers by opening brick and mortar stores.
Several Chinese eretailers expanded cross-border sales last year, and more are expected to join thanks to Beijing's backing, the 21st Century Business Herald reported.