Accumulated waste from China’s e-commerce and express delivery sectors stands to more than quadruple by 2025 unless action is taken to rein it in, green groups said on Monday, as Singles’ Day broke new sales records.
Chinese retailer Alibaba Group Holding Ltd’s sales for its 24-hour Singles’ Day shopping blitz hit a record $38.4 billion, more than U.S. rival Amazon.com Inc’s haul last quarter from online store sales.
Amazon Fashion has launched five of its own private-label brands in Europe, but another 103 have already been introduced in the US by the web giant, although it denies claims it is competing with client brands.
With Debenhams having received a cash injection from its backers to help it through the festive season, the company is betting heavily on its ability to use the season to help drive its turnaround forwards.
There was further confirmation of the bleak state of UK retail on Monday as specialist footfall tracker Springboard released visitor traffic figures for October. And what did they show? Unsurprisingly, another decline.
Alibaba Group Holding on Monday said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from 126.72 billion yuan at the same point last year.
China’s e-commerce giant, Alibaba Group Holding, said on Friday it would invest an additional $3.33 billion to raise its equity stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51%.
As both its search for a new CEO and its review of strategic alternatives get underway, the NYC-based consumer brands management company announced declining sales and deepening losses for the third quarter on Friday.