Alibaba’s Online Growth Surges, Even as It Looks Offline
Although economic growth still looks strong — at least if the Chinese government’s figures are to be
believed — Alibaba will have to work harder to rake in more revenue from its online marketplaces.
Alibaba also debuted a cashier-free minimart last July — well before Amazon opened its own automated convenience store last month.
Still, he said, “these initiatives may require a few more years of incubation before we can see profits.”
Another challenge: Tencent, Alibaba’s biggest rival, is getting into fresh food and traditional retail, too.
HONG KONG — The Alibaba Group, the Chinese online shopping giant, has become so big
that it is looking for growth by forging into new territory: the offline world.
“Some of Alibaba’s ‘new retail’ initiatives have shown quite promising signs of
initial success,” said Jialong Shi, an analyst with Nomura, singling out Hema.