9.23 Ecommerce news

1. Alibaba Group is now Asia’s richest company

Alibaba’s market value rose to US$261 billion in New York last week, overtaking Tencent’s US$255.98 billion capitalisation in Hong Kong on Thursday. Read the rest of the story here.


2. In Japan, You can buy a priest on-demand from Amazon

Proponents of obosan-bin argue that conventional temples already operate like businesses — just the kind that put a lot of blind pricing pressure on the customers they ask donations of. Read the rest of the story here.


3. Indonesia’s fast growing fashion startup Sale Stock is laying off over 200 employees

Most of the employees were from the customer service department. However, the company is still hiring for technical positions. Read the rest of the story here.


4. ShopBack Joins MDEC’s #MYCYBERSALE as official cashback partner

#MYCYBERSALE is Malaysia’s largest annual online sale event. The 5-day national event will see e-retailers like Groupon, Lazada, Zalora, Qoo10, Photobook Malaysia, and more to collectively customize their products as well as services to surprise shoppers with best value deals and up to 90% discounts. Read the rest of the story here.


5. Ralph Lauren, Michael Kors dominate luxury’s online market share

Consumers visited luxury brand Web sites a total of 185.2 million times in the last 12 months, a decrease of 11.2 percent year-over-year, according to a new report from PMX Agency. Read the rest of the story here.

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