Published: Tue, November 14, 2017
Markets | By Erika Turner

Amazon vs. Alibaba: Which Is Winning the E-Commerce Wars?

Amazon vs. Alibaba: Which Is Winning the E-Commerce Wars?

Sales during this day single handedly take over sales in the United States during Black Friday and Cyber Monday and as Ben Cavender, principal of the China Market Research Group, based in Shanghai states, "in terms of scale it just dwarfs any other event out there".

Audio will be available later today.

Separately, Alibaba said transactions on its platforms topped $25.6 billion during one day, November 11, also known as China's Singles Day.

For the second year, Alibaba kicked off the shopping event with a televised and live-streamed gala featuring 27 brands offering exclusive product and enhanced VR experiences.

TV and online retailer Momo.com Inc (富邦媒) said revenue skyrocketed 150 percent year-on-year to NT$740 million (US$24.51 million) on Singles' Day, also known as "Double 11" for the November 11 date, from NT$300 million on the same day last year.

E-commerce company Alibaba saw a chance in 2009, and started pushing it as a shopping day - an online shopping day, of course.

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"168.2 billion yuan sales is not only a record in China, but also a record worldwide", said Alibaba chief executive Daniel Zhang Yong.

Squali notes, "Strong Chinese consumer buying, 4x growth in global brands, strength in cross border trade, rise of New Retail and ubiquity of mobile drove this outsized performance, and bode well for the company's December quarter".

E-commerce site Lazada made US$123 million (S$167.4 million) in sales on Singles Day last Saturday (Nov 11), smashing last year's takings by 171 per cent. "On Singles' Day, shopping is a sport, it's entertainment".

To pump merchandise, the Chinese company also hosted a star-studded gala with film star Nicole Kidman and American rapper Pharrell Williams. The country's online retail sales are growing 30% a year with mobile payment transactions surpassing $23.8 trillion, Chinese President Xi Jinping said at a meeting of world leaders in Vietnam on Saturday.

PChome subsidiary PChomestore Inc (商店街) said that orders on Saturday broke the company's daily order record - 430,000 - and that revenue ballooned 600 percent compared with the same day previous year. China has 731 million internet users, up 6 per cent from 2016, according to government statistics. Ma's company spent billions buying into grocers, shopping malls and even department stores years before Amazon announced its $13.7 billion acquisition of Whole Foods Market Inc.

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