News

Sears, once a retail titan, files for Chapter 11 bankruptcy

Tracy Rucinski and Tom Hals, Reuters
Posted at Oct 15 09:48 PM

Sears Holdings Corp filed for Chapter 11 bankruptcy on Monday with a plan to close 142 more stores, throwing into doubt the future of the century-old retailer that once dominated U.S. malls but has withered in the age of internet shopping. Read more »

Business Mentor: E-commerce mistakes that should be avoided

Armando Bartolome
Posted at Oct 13 10:15 AM

A great marketing strategy is essential to the success of a business. In the past, the only way to sell goods was through a physical store. Today, while most of us still go to the mall to buy something, the emergence of e-commerce has also affected the way we shop. Read more »

Cokes, smokes and clicks: How corner stores cash in on Mexican e-commerce

Julia Love and Daina Beth Solomon, Reuters
Posted at Oct 12 01:20 PM

Oxxo has seized on a lucrative opportunity to cement itself into the e-commerce supply chain in places where online shopping is not the seamless affair it is in wealthy countries, analysts say. Read more »

Amazon's Jeff Bezos unveils $2 billion philanthropic fund

Rob Lever, Agence France-Presse
Updated as of Sep 14 09:30 AM

Bezos made the announcement on Twitter a year after asking for ideas on how he could use his personal fortune -- now estimated at more than $160 billion -- for charitable efforts. Read more »

Walmart's purchase of Mexico food delivery app set to spur e-commerce

Daina Beth Solomon, Reuters
Posted at Sep 14 07:30 AM

Walmart Inc will acquire Latin American food delivery service Cornershop for $225 million, it said on Thursday, in a move to ramp up its online grocery business in Mexico and Chile. Read more »

Alibaba, Russian tech firm Mail.ru to launch new venture

Agence France-Presse
Posted at Sep 11 06:56 PM

The new company will be called AliExpress Russia -- taking after the name of an existing Alibaba platform.  Read more »

Alibaba chairman Jack Ma to step down in 2019: company

Agence France-Presse
Posted at Sep 10 09:59 AM

Ma is staying on as executive chairman for 12 months to "ensure a smooth transition" before handing over his role to chief executive officer Daniel Zhang, Alibaba said in a statement. Read more »

Jack Ma's Alibaba: E-commerce, film and food delivery

Agence France-Presse
Posted at Sep 08 09:35 PM

Chinese internet tycoon Jack Ma is retiring from Alibaba on Monday after transforming the e-commerce company into a global behemoth that has branched out into various businesses.   Read more »

Lazada sales 'healthy' despite quickening inflation: CEO

ABS-CBN News
Updated as of Sep 05 05:01 PM

Increased digital media consumption and the preference for YouTube over TV drive Filipinos to spend online, Ray Alimurung told ANC. Read more »

Alibaba: 325,000 orders per second highlights e-commerce shift

Jessica Fenol, ABS-CBN News
Updated as of Sep 04 11:49 AM

The milestone was reached during Alibaba's Nov. 11, 2017 sale, where the platform also saw 256,000 payments processed per second and 168.2 billion yuan in sales, said Alibaba vice president for e-commerce Jungong Sun. Read more »

Where Henry Sy is king of retail, Lazada bets on YouTube generation

Joel Guinto, ABS-CBN News
Updated as of Sep 04 11:45 AM

Lazada will open on Sept. 9 its first "mall," a virtual store with 70 million products and a next-day delivery guarantee to help reach its "ambition" of growing sales by 100 percent annually. Read more »

JD.com CEO returns to China after arrest in US sexual misconduct case

Cate Cadell, Reuters
Posted at Sep 03 09:13 PM

The CEO of JD.com Inc, Richard Liu, has returned to China, the Chinese e-commerce giant said on Monday, days after he was arrested by police in the U.S. city of Minneapolis on suspicion of criminal sexual conduct and later released. Read more »

Lazada goes premium, fights fakes with first 'mall'

Joel Guinto, ABS-CBN News
Updated as of Aug 31 08:37 PM

LazMall will open on Sept. 9 with discounts of up to 90 percent. While virtual, it is Southeast Asia's largest mall with 70 million product listings, the company said.  Read more »

8 in 10 SMEs use mobile payments, automation: FedEx study

Jessica Fenol, ABS-CBN News
Posted at Aug 30 04:13 PM

Ninety six percent of SMEs also use e-commerce platforms which account for 52 percent of their revenue, according to the study by logistics provider FedEx in 10 Asian markets with over 4,500 respondents. Read more »

Fast internet to aid SMEs digital shift: FedEx

Jessica Fenol, ABS-CBN News
Posted at Aug 30 02:50 PM

While 96 percent of SMEs use electronic channels, online sales account for 52 percent of total revenues according to FedEx's "Global is the New Local: The Changing International Trade Patterns of Small Businesses in Asia Pacific." Read more »

Cash back app bets on tech-savvy Philippines

ABS-CBN News
Updated as of Aug 30 11:18 AM

Shopback allows users to get money back from purchases made through the platform and use them even in other merchants like convenience stores. Read more »

4 nightmares that haunt online sellers

LBC Express
Posted at Aug 29 01:34 PM

The rapid growth of e-commerce has led an increasing number of entrepreneurs to explore online platforms to sell their products. Read more »

Alibaba's revenue jumps but investments to prolong margin squeeze

Cate Cadell, Reuters
Posted at Aug 24 03:48 PM

While Alibaba makes money from its core businesses, including online marketplaces Tmall and Taobao and payment platform Alipay, it also has far flung investments in sports content, microchips and facial recognition technology. Read more »

Alibaba revenue beats on strength in e-commerce, cloud businesses

Reuters
Posted at Aug 23 09:43 PM

Alibaba Group Holding Ltd , the world's biggest online retailer, topped first-quarter revenue estimates on Thursday, driven by growth in its core e-commerce business. Read more »

Sari-sari stores seen as portals to Philippines' cashless future

ABS-CBN News
Posted at Aug 23 08:39 AM

TrueMoney has deployed 16,000 basic point-of-sale terminals to as far as Tawi-Tawi on the Philippines southern tip, with plans to grow its network to 25,000 this year, said its country CEO, Jacqueline Van Den Ende. Read more »