Alibaba's newest business: Modernising China's factories

📆 16/09/2020 06:56:00
📰 The Straits Times

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HONG KONG (BLOOMBERG) - Alibaba Group Holding helped modernise brick-and-mortar retail with consumer data and online services. Now it hopes to do the same for China's multitrillion-dollar manufacturing arena.. Read more at straitstimes.com.

HONG KONG - Alibaba Group Holding helped modernise brick-and-mortar retail with consumer data and online services. Now it hopes to do the same for China's multitrillion-dollar manufacturing arena.

"This allows traditional manufacturers to improve profitability and reduce inventory levels while still being able to meet these personalisation needs," said Alain Wu, chief executive officer of Alibaba-subsidiary Xunxi Digital Technology. It's closely related to Alibaba's"new retail" strategy of merging offline and online shopping: newer outfits like the Freshippo grocery chain have grown into a US$12 billion business, contributing a fifth of total revenue in the June quarter.

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