Alibaba’s Online Growth Surges, Even as It Looks Offline
- 6 years ago
Alibaba’s Online Growth Surges, Even as It Looks Offline
Although economic growth still looks strong — at least if the Chinese government’s figures are to be
believed — Alibaba will have to work harder to rake in more revenue from its online marketplaces.
Alibaba also debuted a cashier-free minimart last July — well before Amazon opened its own automated convenience store last month.
Still, he said, “these initiatives may require a few more years of incubation before we can see profits.”
Another challenge: Tencent, Alibaba’s biggest rival, is getting into fresh food and traditional retail, too.
HONG KONG — The Alibaba Group, the Chinese online shopping giant, has become so big
that it is looking for growth by forging into new territory: the offline world.
“Some of Alibaba’s ‘new retail’ initiatives have shown quite promising signs of
initial success,” said Jialong Shi, an analyst with Nomura, singling out Hema.
Although economic growth still looks strong — at least if the Chinese government’s figures are to be
believed — Alibaba will have to work harder to rake in more revenue from its online marketplaces.
Alibaba also debuted a cashier-free minimart last July — well before Amazon opened its own automated convenience store last month.
Still, he said, “these initiatives may require a few more years of incubation before we can see profits.”
Another challenge: Tencent, Alibaba’s biggest rival, is getting into fresh food and traditional retail, too.
HONG KONG — The Alibaba Group, the Chinese online shopping giant, has become so big
that it is looking for growth by forging into new territory: the offline world.
“Some of Alibaba’s ‘new retail’ initiatives have shown quite promising signs of
initial success,” said Jialong Shi, an analyst with Nomura, singling out Hema.