Alibaba Stock Rises After Retail Sales Skyrocket
On Wednesday China’s National Bureau of Statistics reported online retail sales in the country reached $205.8 billion for the first two months of 2018, a 37% increase from a year ago, and an acceleration from the 32% growth rate in the same period in 2017. Wall Street firm Jeffries opined that “we believe the strong…
This story was produced through MarketScale. See how Retail teams put it to work with Sales Enablement.
Get featured
Want to get featured in MarketScale Retail?
Create a free MarketScale workspace and get your company's expertise featured across our Retail coverage. No credit card, no demo required.
On Wednesday China’s National Bureau of Statistics reported online retail sales in the country reached $205.8 billion for the first two months of 2018, a 37% increase from a year ago, and an acceleration from the 32% growth rate in the same period in 2017.
Wall Street firm Jeffries opined that “we believe the strong online retail sales in spite of weak seasonality could be attributed to:
1) a longer-than-usual shopping window prior to Chinese New Year (CNY) holiday; 2) increased rural consumption spending over CNY from post-80s with smart home electronics and imported fresh goods showing fast growth; 3) step-up in online-offline promotional efforts, e.g. red packets, Taobao-RTmart (SunArt) promotion; 4) enhanced logistics service for fresh goods, e.g. Hema,” Jefferies analyst Karen Chan said in a note to clients.[1]
Shares of New York-traded Alibaba rose more than 3 percent Thursday morning, hitting a high of $199.50 pershare.[2] The Wall Street Journal also reported early Thursday that the company is considering a moving their stock listing home to mainland China.[3]
[1]http://www.businessinsider.com/alibaba-stock-price-reaping-rewards-skyrocketing-china-online-sales-2018-3
[2]https://www.cnbc.com/2018/03/15/alibaba-shares-jump-after-report-its-considering-a-chinese-listing.html
[3]https://www.wsj.com/articles/china-tech-titan-alibaba-plans-stock-market-homecoming-1521116131
Your experts belong here
Every story in MarketScale Retail starts with a company putting its merchandising leads, store operations teams, and category managers on the record. Buyers are already reading this topic. The only question is whose experts they find.
Category buyers trust operators, so your merchandising leads shorten the distance between first search and first call.
