Just as the Chinese duo of Jack Ma and Pony Ma have carved up major chunks of their country’s Internet businesses, the battle for control of 1.3 billion Indians’ data could become a two-horse race.
Browsing: Retail and e-commerce
Negotiations for e-commerce and digital trade under an Africa-wide free trade pact will be fast-tracked as the coronavirus pandemic heightens the need for a legal and governance framework.
Woolworths on Thursday published its results for the 52-week period ended 28 June 2020 and, despite a slump in earnings caused by the Covid-19 lockdown, online sales spiked higher.
After Naspers was blocked from acquiring a controlling 60% stake in specialist car-buying service WeBuyCars earlier this year, Transaction Capital has announced it is taking a 49.9% stake in the company.
Massmart said on Thursday its first-half headline loss widened to R1.1-billion, as sales at its stores fell due to Covid-19 restrictions. E-commerce, on the other hand, blossomed through the lockdown.
Despite overall trade taking a hit due to the Covid-19 fallout and lockdown, Durban-based national apparel and home retail giant Mr Price Group has seen a surge in online sales and has increased its market share post the “hard” lockdown.
Jumia Technologies is facing fresh competition from start-ups in the African e-commerce and logistics market after the Covid-19 pandemic increased demand for online deliveries.
Revenues for African e-commerce heavyweight Jumia slid by 10% in the second quarter, dashing hopes that lockdowns aimed at stemming the spread of the Covid-19 would lead to a flood of online orders.
Amazon.com CEO Jeff Bezos sold shares worth $3.1-billion in the e-commerce company in recent days, regulatory filings showed on Wednesday.
Amazon.com on Thursday posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.