News From Alibaba's Annual E-Commerce Conference
Alifest, which is the annual e-commerce event of Chinese e-commerce giant Alibaba, has taken place in Hangzhou last weekend. Alibaba's chief strategy officer, Zeng Ming has shared some insights: China's e-commerce sector is expanding by about 100% annually, but the national logistics industry is only growing by about 40% year-on-year. Furthermore he explained the difference between Tmall and 360Buy: While their service appears only as a intermediary between customers and brands, 360Buy is doing their own warehousing & is also going to launch their own logistics serivce for the selling of their products. Tmall currently holds a market share of 41.5%, followed by 360Buy with 15.5%. Zeng also said that Alibaba, with all of its services, is aiming to have more sales this year than Amazon & eBay together on a global scale.
Sources: Tech in Asia