Consumer Economy

The recent layoffs are expected to help the company stay afloat amid the second wave of COVID-19 and the muted demand for its offline offerings over the next few months.

Since late last year, Tata Group has been out in the market to acquire internet companies to create a super app.

SCI Ecommerce, which counts Lazada and Shopee as clients, assists brands and merchants set up and manage digital stores in Southeast Asia and China.

Shopee is concentrating on Brazil as its main market in Latin America, while other countries such as Mexico are part of an “asset-light” approach in the region.

Zhuanzhuan Group’s B2B subsidiary Caihuoxia increases the efficiency and transaction volume of secondhand recyclers and merchants.

E-commerce made up 20% of retail sales in Indonesia last year. Analysts say it could reach up to 40%.

Founders of Chinese tech giants are relinquishing the CEO title in favor of strategic roles behind the scenes. 

RedSeer projects the Indian social commerce sector to become a USD 7 billion opportunity by 2025, contributing up to 5% to the total e-commerce market.