Grazed from Bloomberg. Author: Editorial Staff.
Alibaba Group Holding Ltd. expects pure e-commerce operators to face ‘tremendous challenges’ as the web giant seeks to tap more growth from transforming China’s $4.5 trillion traditional retail industry. China’s largest e-commerce company plans to upgrade retail businesses and improve efficiency across product manufacturing, distribution and service, Chief Executive Officer Daniel Zhang said in an e-mailed letter to shareholders on Thursday. The company is working with partly-owned Suning Commerce Group Co. and Intime Retail Group Co. to integrate the online experience with brick-and-mortar shopping.
Alibaba has highlighted trillions of dollars in Chinese household savings as a key driver of growth, with the company pledging to keep investing in business and geographical expansion, even if it drags on earnings in the short-term. The company is also looking overseas for growth, as Chairman Jack Ma targets serving 2 billion consumers and supporting 10 million profitable business around the world in 20 years...
Read more from the source @ http://www.bloomberg.com/news/articles/2016-10-13/alibaba-sees-tremendous-challenge-for-pure-e-commerce-business
