Can Alibaba (BABA) Sustain Its Rally as E-Commerce Competition Intensifies? [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
November 2, news portal South China Morning Post (SCMP) reported that Alibaba had announced a $281 million investment for a program to transition local convenience stores across China to Taobao-branded stores. According to Hu Qiugen, the general manager of Alibaba's instant commerce division, this program will utilize Alibaba's digital infrastructure and technological expertise to upgrade these stores, enabling them to provide a “one-stop, 24-hour and 30-minute delivery” shopping service to consumers. These upgraded stores will then support the company's businesses across instant commerce and on-demand delivery. Can Alibaba (BABA) Sustain Its Rally as E-Commerce Competition Intensifies? The competition in China's instant commerce market has intensified recently. The SCMP report emphasizes that China's instant commerce market is expected to reach 2 trillion yuan (~$280 billion). This data was based on estimates by the Chinese Academy of International Trade and Economic Cooperatio
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