Alibaba

The robust performance was mainly driven by the rapid increase in online sales of medicines and healthcare products.

Kuaishou is onboarding international vendors mainly offering cosmetics, skincare products, food, watches, and luxuries.

The group’s retail business, which targets price-sensitive buyers, is struggling to make money amid fierce competition in the sector.

While Tencent has enjoyed a more harmonious relationship with Chinese regulators compared to Alibaba, the company’s outsized presence in gaming and social media has raised monopoly concerns.

The practice of overstating promotions has long been a common way to attract attention to delivery platforms.

Masan-controlled VinCommerce will gain the right to sell its groceries on Lazada Vietnam.

Alibaba’s new investment strategy includes three main areas, including domestic consumption, globalization, and cloud and advanced technologies.

Tencent doesn’t have a platform to directly rival Alibaba’s Taobao, but it remains relevant in the e-commerce space thanks to WeChat and investments in other e-commerce platforms.