Chinese e-commerce platform Alibaba has no U.S. equivalent. The closest comparison and one that is often used is Amazon, but based on sheer retail volume, total revenue, and platform functionality, it is fair to say that Jack Ma’s brainchild edges out Jeff Bezos’s. Last week, on China’s Singles Day, Alibaba’s Tmall and Taobao generated $5.75 billion in sales in 24 hours–an 80 percent YOY increase. To compare, analysts are predicting Amazon will do approximately $23.5 billion in sales over the whole of Q4. As Galloway points out in this new interview with Bloomberg TV, market share is another impressive area for Alibaba: 60 percent of all parcels shipped in China originate from one of its online properties. With big investments in everything from social media (Sina Weibo) to the airline indstry (UATP-Alipay partnership), Alibaba is an incredible financial force not only in China but across the world.
Click here to watch the full interview.
L2 emails keep you up to date on how brands are leveraging digital to grow their businesses.
Join Our EMail List