NEW YORK, February 12, 2018 /PRNewswire/ --
According to data compiled by Home Improvement Research Institute, the home improvement market product sales are expected to grow at an average 3.9 percent pace until 2020. The major contributing factors to the home improvement market are new and existing home sales, increasing disposable income, rising consumer spending, remodeling and renovation of homes, as well as an increasing middle-class population. As products related to home improvement become more innovative and technologically advanced, consumer spending also increases, allowing the market to generate momentum. SSLJ.com Limited (NASDAQ: SSLJ), JD.com Inc (NASDAQ: JD), Alibaba Group Holding Limited (NYSE: BABA), Tencent Holdings Limited (OTC: TCEHY), Vipshop Holdings Limited (NYSE: VIPS)
The increase in the market is expected to be driven by the demographic of homeowners. According to a study by the Harvard Joint Center for Housing Studies, it is expected for home owners younger than 35 to make up more than one quarter of home improvement spending and all net growth in the market in the next decade. "Growth in home prices is continuing at a healthy pace and encouraging homeowners to make remodeling investments," says Chris Herbert, Managing Director of the Joint Center for Housing Studies. "Home sales are remaining on an upward trajectory, as well, and this coupled with continued growth in remodeling permit activity suggests another strong year for home improvements."
SSLJ.com Limited (NASDAQ: SSLJ) earlier last week announced breaking news that, "the Company has entered into a strategic cooperation agreement (the "Agreement") with JD.com (NASDAQ: JD) ("JD"), the largest e-commerce company and largest retailer in China, through JD's subsidiary Beijing JD Century Trading Co., Ltd.
SSLJ and JD are expected to further enhance overall operational efficiency, reducing their operating costs, implementing future market expansion strategies, gaining market share, as well as creating greater commercial value for both parties.
Pursuant to the Agreement, both parties agree to carry out business cooperation nationwide. SSLJ is expected to distribute its own products through JD's platform and have deep cooperation with JD in the field of Smart Homes. SSLJ shall invest a certain amount of money in the platform of JD for advertising. As consideration, SSLJ has a priority to distribute its 2018 new products on JD's platform, including but not limited to, JD Mall and JD Crowdfunding, and JD will provide high quality resources to match target customers for SSLJ."
Mr. Wei Zheng, Chairman and Chief Executive Officer of SSLJ.com Limited, stated, "We are excited about the cooperation with China's e-commerce giant JD and the potential market that this new relationship can cultivate. JD's vast online retail channel will enable us to distribute SSLJ's products in a more efficient and economical manner to meet the growing consumer demand in China, which further is expected to drive the Company's fast expansion in e-commerce, enhance the influence of the Company and build up the brand awareness of SSLJ."
JD.com Inc (NASDAQ: JD) strives to offer consumers the best online shopping experience. Through its user-friendly website, native mobile apps, and WeChat and Mobile QQ entry points, JD offers consumers a superior shopping experience. Recently, the company has announced the opening of a local office in Australia as it accelerates growth in the region. The Australia and New Zealand regional headquarters will be based in the heart of Melbourne's business district in Collins Street and already has staff on the ground. JD.com will offer Australian and New Zealand brands and retailers access to its 266.3 million active users and reach to more than 900 million consumers through JD's exclusive partnership with Tencent, owner of the hugely successful social networking platform WeChat. JD chose to locate in the Victorian capital because of opportunities presented for e-commerce businesses by the State of Victoria, including access to an abundance of local suppliers, Australia's only 24-hour shipping port and a supportive local government.
Alibaba Group Holding Limited (NYSE: BABA) aims to build the future infrastructure of commerce. On February 1, 2018, the company announced that pursuant to 2014 transaction agreements, Alibaba will acquire a 33% equity interest in Ant Financial. The parties have agreed to certain amendments to their 2014 transaction agreements to facilitate the transaction. Under the terms of the amended agreements, Alibaba will acquire newly-issued equity from Ant Financial in exchange for certain intellectual property rights owned by Alibaba exclusively related to Ant Financial. There will be no cash impact to Alibaba following completion of the transaction. Upon closing, the companies will terminate the current profit-sharing arrangement under which Ant Financial pays royalty and technology service fees in an amount equal to 37.5% of its pre-tax profits to Alibaba.
Tencent Holdings Limited (OTC: TCEHY) is a leading provider of Internet value-added services in China. The company's social products Weixin and QQ link its users to a rich digital content catalogue including games, video, music and books. On November 15, 2017, the company announced the unaudited consolidated results for the third quarter ended September 30, 2017. Revenues from its Value Added Services (VAS) business increased by 51% to RMB42,124 million for the third quarter of 2017 on a year-on-year basis. Online games revenues grew by 48% to RMB26,844 million. The increase mainly reflected contributions from our smart phone games, including existing titles such as Honour of Kings, and new titles such as the China version of Contra Return and Legacy TLBB Mobile. Revenues from PC client games also increased, benefiting from our key titles such as DnF and LoL. Social networks revenues increased by 56% to RMB15,280 million.
Vipshop Holdings Limited (NYSE: VIPS) is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. On December 18, 2017, the company announced that Tencent Holdings Limited and JD.com will invest an aggregate amount of approximately US$863 million in cash in Vipshop at the closing of the transaction. Concurrently with the entry of the share subscription agreement, Tencent and JD.com have entered into business cooperation agreements with Vipshop, effective upon closing, establishing a cooperative relationship among Tencent, JD.com and Vipshop. Under these agreements, Tencent will grant Vipshop an entry on the interface of Weixin Wallet enabling Vipshop to utilize traffic from Tencent's Weixin platform, and JD.com will grant Vipshop entries on both the main page of JD.com's mobile application and the main page of its Weixin Discovery shopping entry, and will assist Vipshop in achieving certain GMV targets through JD.com's platform.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
For further information: