-
Singles Day is singular triumph for Alibaba
Of all the celebrants of China’s annual “Singles Day” Nov. 11 holiday, Alibaba Group Holding Ltd. was probably the happiest.
By midnight Nov. 11 China time (which is ahead of all U.S. time zones), Alibaba estimated it had settled about $14.34 billion in gross merchandise volume (GMV) through its Alipay payment platform on its China and international retail marketplaces.
-
Survey: Retailers see need for innovation spending
Retailers are feeling confident about their overall financial situations, but less so about omnichannel investment.
This is a main finding from the 7th annual CIT Group Retail Outlook study conducted among 250 senior middle-market retail executives by Harris Poll. Although respondents are generally projecting growing sales and revenue, many feel significant investment toward innovation in an omnichannel strategy -- including website, mobile and social media channels -- will be needed to remain competitive.

