China-based ecommerce players get boost as consumers continue to shift online

Tuesday 25 August 2020 15:05 CET | News

China-based ecommerce players have experienced a boost as more consumers shop online and businesses try to digitise in the aftermath of the COVID-19 outbreak, CNBC reports.

According to CNBC, Chinese players have recently reported strong earnings for the second quarter of 2020, as lockdown rules in the country relaxed.

Meituan Dianping, one of China’s biggest on-demand delivery services companies, reported a more than 152% year-on-year rise. Additionally, according to the company, the number of newly-onboard branded merchants increased by more than 110% on-year in the second quarter.

Alibaba reported a 34% year-on-year rise, representing a growth rate which is higher than the one recorded in the first quarter of 2020. also posted strong earnings. The company reported a rise in the net income of over 2,500% year-on-year.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: China, ecommerce, food delivery, COVID-19, Meituan Dianping, delivery services, merchants, Alibaba,
Categories: Payments & Commerce
Countries: China
This article is part of category

Payments & Commerce