NEW YORK, Aug. 20, 2020 /PRNewswire/ -- The global e-commerce market continues to grow at an impressive rate as more and more people are now constantly connected to the internet. Thanks to the growing wireless infrastructure in developing countries and easier accessibility of smartphones and tablets, it is estimated that the e-commerce market was worth USD 3.535 Trillion in 2019, with strong growth rates of 28.0% in 2017 and 22.9% in 2018. A research report by eMarketer also estimates that the global e-commerce market will approach USD 5 Trillion mark by 2021. In addition, the current pandemic and the social isolation measures intendent to reduce the number of infected caused an increase in demand for essential supplies such as food, medicine, hand sanitizers, tissue, and disinfectants. And although the pandemic will have severe economic consequences and is hurting the retail industry as people avoid visiting market places, the online or e-commerce market is seeing a significant growth. eMarketer estimates an 18% growth forecast for U.S. e-commerce in 2020, which reflects a notable increase in both the number of digital buyers and the average spending per buyer. TD Holdings, Inc. (NASDAQ: GLG), JD.com, Inc. (NASDAQ: JD), Alibaba Group Holding Limited (NYSE: BABA), Vipshop Holdings Limited (NYSE: VIPS), eBay Inc. (NASDAQ: EBAY)
By region, the Asian-Pacific region is expected to remain supreme. Six of the top 10 fastest-growing ecommerce countries in 2019 were from that region, led by India and the Philippines at more than 30% growth and rounded out by China, Malaysia, Indonesia and South Korea. A market closely associated with e-commerce, like the Ecommerce Payment Market. According to data by Renub Research, "The shifting in the digital landscape and online transaction dynamics remain keen to drive the E-commerce payment market in the United States. At the same time, cybersecurity threats continue to evolve rapidly and are expected to challenge the market growth. The segments in the ecommerce platform in the United States are Travel, Consumers Electronic, Clothes and Apparel, Household goods, Health and Beauty, Groceries and Others."
TD Holdings, Inc. (NASDAQ: GLG) just announced breaking news this morning that, a strategic framework agreement with Tongdow E-commerce Group ("Tongdow E-commerce") through Shanghai Jianchi Supply Chain Co.,Ltd. ("Shanghai Jianchi"), the Company's wholly owned subsidiary. Tongdow E-Commerce recently has engaged the wholly owned subsidiary of JD Digits Technology Group ("JD Digits") and launched an online commodity trading enterprise payment system on Tongdow E-Commerce's online trading platform.
JD Digits was first established as part of JD.com, Inc. (Nasdaq: JD), and later became an independent technology company dedicated to the digitalization of AI-driven industries. It uses digital technology to serve the financial and real sectors and help related industries in achieving Internetization, digitization, and intelligentization. JD Finance is one of the core business modules of JD Digit's corporate services. It aims to provide unified external services through account management, transaction settlement, payment and unites supply chain financing, financial technology, and other business segments to meet the diverse transaction scenarios and needs of corporate users in various industries, providing enterprises with a one-stop business service platform.
The Company, through its wholly owned subsidiary Shanghai Jianchi., has entered into a strategic cooperation framework agreement with Tongdow E-commerce and Beijing Tongbang Zhuoyi Technology, which is a wholly owned subsidiary of JD Digits, jointly providing customers with comprehensive services such as payment and supply chain management.
The launch of the commodity online payment platform represents the beginning of the cooperation with TD Holdings and JD Digits. In the future, the Company plans to develop deeper cooperation with JD Digits with respect to payment, supply chain financing, IoT-enhanced warehouses, etc., to provide commodity trading companies with integrated solutions for online payments and FinTech needs.
About TD Holdings, Inc. - TD Holdings, Inc. (Nasdaq: GLG) is a commodities trading service provider conducted under the brand name "Huamucheng" by the Company's wholly owned subsidiary, Shenzhen Huamucheng Trading Co., Ltd headquartered in Shenzhen. For more information please visit http://ir.tdglg.com."
JD.com, Inc. (NASDAQ: JD) through its subsidiaries, operates as an e-commerce company and retail infrastructure service provider in the People's Republic of China. It operates in two segments, JD Retail and New Businesses. This week the Company announced its unaudited financial results for the three months and six months ended June 30, 2020. Net revenues for the second quarter of 2020 were RMB201.1 billion (US$ 28.5 billion), an increase of 33.8% from the second quarter of 2019. Net revenues from the sales of general merchandise products for the second quarter of 2020 were RMB64.0 billion (US$9.1 billion), an increase of 45.4% from the second quarter of 2019. Net service revenues for the second quarter of 2020 were RMB22.9 billion (US$3.2 billion), an increase of 36.4% from the second quarter of 2019.
Alibaba Group Holding Limited (NYSE: BABA) announced back in June that it hit new milestones as sellers from U.S. grow at fastest rate worldwide, U.S. buyers increase more than 70% year over year and overall transactions by U.S. businesses on Alibaba.com increase more than 100%. "Doing business online is the bridge for American small businesses through this crisis and into the next decade," said John Caplan, President of North America and Europe of Alibaba.com. "We are accelerating our transformation to get both sellers and buyers quickly set up for success and provide the critical tools and services that are required for growth - access to supply and demand, shipping and logistics, and working capital. Ultimately, our goal is to give SMBs even greater access to the $23.9 trillion global B2B ecommerce opportunity – which is six times the size of the B2C ecommerce market."
Vipshop Holdings Limited (NYSE: VIPS) is an online discount retailer for brands in China. Last year the Company announced business cooperation with SF Holding (SZSE: 002352). The Company will discontinue its delivery business operated by Pinjun, and engage SF Holding to provide delivery services to the Company. In addition, the Company and SF Holding will work closely to ensure the transition is carried out smoothly. "We are delighted to have entered into the business cooperation with SF Holding," said Mr. Eric Shen, chairman and chief executive officer of Vipshop. "Through this business cooperation, we aim to optimize the efficiency of our logistics operations, decrease our fulfillment expenses, and provide our valued customers with superior delivery services offered by SF Holding."
eBay Inc. (NASDAQ: EBAY) announced earlier this month that it is partnering with LendingPoint to launch a new program that will give eBay sellers in the U.S. access to funding to help grow and sustain their businesses. The program, eBay Seller Capital powered by LendingPoint, is compatible with payments managed by eBay and will unlock opportunities for individuals and businesses to obtain financing, providing eligible sellers with a fast, flexible and transparent funding experience. "We're committed to empowering entrepreneurs to make their dreams a reality, and we are continuing to partner with our sellers to provide them with the tools they need to thrive," said Alyssa Cutright, Vice President of Global Payments at eBay. "We're excited to make flexible financing options available that are integrated with our new payments experience. The program with LendingPoint will enable critical funding opportunities for eBay sellers, especially during this time of economic uncertainty."
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