China E-Commerce
China Online Retail Exceeded $53 Billion in Q3
China Online Retail Exceeded $53 Billion in Q3 According to Quarterly Market Monitor Report from Enfodesk, China online retailing transaction scaled 331.6 billion Yuan in Q3 2012, with QoQ growth of 18.7% and YoY growth of 60%. It is estimated by iResearch, the online shopping market will keep its QoQ growth ranging from 30% to 40% and whole transaction scale may reach 370 billion Yuan (USD59.24 billion). There is another optimistic estimation that the market scale may break 400 billion Yuan (USD64.04 billion) for the very first time.
Source: China Internet Watch
China E-Commerce
Tmall and Taobao Sees $3 Billion In Sales On “Double Eleven”
During yesterday’s “Double Eleven” online shopfest, two of China’s biggest sites, Tmall and Taobao (both owned by Alibaba Group), beat out all US e-tailers by themselves, seeing sales transactions worth RMB 19.1 billion (US$3.043 billion) during the 24-hour promotional period. That makes Tmall and Taobao’s Double Eleven sales worth more than double America’s entire Cyber Monday shopping spree, which brought in $1.25 billion in 2011. With Cyber Monday in the US growing at only about 22 percent per year, it’s unlikely that the next one, on November 26th, will see American consumers outspend their Chinese counterparts.
Source: Tech In Asia
China SEO/SEM
Monster Seeks to Sell Off Ailing ChinaHR
Monster (US based jobs site), said that it’s seeking to sell its Chinese division, ChinaHR.com. With ChinaHR ailing in recent years, the news sent Monster stocks up 10 percent in yesterday’s trading. Monster initially bought a stake in ChinaHR in 2005, and then increased the stake in 2006, before acquiring the whole company in 2008. At that time, ChinaHR was effectively valued at $300 million. Since then it has been squeezed by major web Chinese portals opening into online HR sites.
Source: Tech In Asia