[Rakuten] Rakuten launches on 11Street Korea
Japanese ecommerce giant Rakuten launched a storefront on Korea’s 11Street. The store offers popular brands and products from leading Japanese merchants. 11Street has built a network of 260,000 sellers and serves 23 million registered members in South Korea. Rakuten will introduce a variety of fashion, beauty, health, kitchen, sports, and hobby items to the Korean consumers through this partnership.
[Aldi] Aldi to launch in China?
Leading global discount supermarket chain, Aldi, plans to launch a standalone website in China after securing the domain www.aldi.cn years ago. Aldi hopes to attract Chinese consumers with Made in Europe products since a lot of the consumers are well-travelled. European products may resonate well with the consumer. However, Aldi chooses to enter the market independently while other European competitors such as Sainsbury’s, Waitrose, and M&S have teamed up with Alibaba or JD.com.
[China] China ends anonymity on its internet
A new cybersecurity law that will go into effect on June 1, 2017 will require users to provide their real identities. Internet service providers, social media, and messaging services are required to cooperate with police and state security organizations by handling over records if requested. Foreign companies that are in “strategically important sectors” must store all of their data in China and submit to government security reviews. The law does not mention source code disclosure.
[U.S.] RETAIL FORECAST: U.S. consumers will spend $632 billion online by 2020
Business Insider Intelligence forecasts that U.S. consumers will spend $385 billion online in 2016 and the number will grow to $632 billion in 2020. The number of online shoppers has grown by nearly 20 million to 224 million in 2016. These online shoppers spend more ($61 billion in 2015 Q1 vs. $68 billion in 2016 Q1) and more frequently. The number of online transaction has grown by 115 million from 2015.
[Alibaba] Alibaba breaks records, sells $17.7 billion on Singles Day
Alibaba has beaten last year’s $14.3 billion and set a new record of $17.7 billion for this Singles Day. Sales from mobile devices account for 82% of the total GMV. The number for last year is 69%. Today, only 10% of China’s total retail spending is online. Alibaba is likely to keep the growth for the coming years.
Please send comments to email@example.com.
If you really like the newsletter, feel free to forward it to a friend.