New rules should boost cross-border ecommerce in Europe
The European Commission has proposed new ecommerce rules to boost cross-border ecommerce in Europe by tackling geoblocking, making cross-border shipping more affordable, and promoting customer trust. //Revolutionary for the EU. EU companies may get content with the EU market though.
Alibaba Faces U.S. Accounting Inquiry
The SEC is investigating how Alibaba accounts for a web of companies that it owns or has some say in the operations. The company says it is cooperating with the inquiry. Although an investigation does not mean that Alibaba has violated any law, it still tarnishes the Chinese company’s fame. //Only one week after Jack had a private lunch with President Obama at the WH
Tata group to launch e-commerce venture CLiQ
Indian conglomerate Tata group launched its e-commerce platform, Tata CLiQ, on May 27th. Tata CLiQ will initially offer apparel, electronics, and footwear products and then expand into other categories in the next few months. A Goldman Sachs report said that the Indian e-commerce market would grow 15 times and reach $300 billion by 2030. The current e-commerce market size is $20 billion. //the Indian e-commerce market is heating up.
Amazon sets the pace for e-commerce in India
Within nearly three years, Amazon India has become a leader in the market with 18% market share. It is already the most visited e-commerce site in India. Different from its rivals’ focus on generating revenue, Amazon India focuses on improving customer experience and earning trust. Estimates show that Amazon’s growth rate in India was 250% in 2015 compared to 1014. This year, its growth rate can be around 150%. Amazon could be a long-term leader in the market because of its deep pockets and its customer-centered strategy.
Best Buy’s e-commerce business is surging
Best Buy’s e-commerce business has grown 24% year-over-year in the first quarter, generating about $832 million in revenue. Personalization is the key component of its e-commerce strategy. According to its e-commerce president, Best Buy wants to become “the Netflix of consumer electronics.”
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