Alibaba and JD find solace in Russia
Amid the recession, Russian shoppers are increasingly turning to the Web to seek the best possible bargains
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Moscow
RUSSIA'S plunging currency hasn't weened consumers off foreign goods. Instead, cash-strapped shoppers are turning to online retailers for imported smartphones, jewellery and clothes, giving an unexpected boost to Chinese e-commerce giants Alibaba Group Holding and JD.com Inc.
Alibaba's AliExpress site posted a 40 per cent increase in Russian visitors to 22 million in July compared with a year earlier, according to researcher TNS. JD.com, which gets more than half its sales from electronics and home appliances, started its first international site in June in Russia, exclusively offering devices such as Xiaomi Corp smartphones for about US$214. That's less than half of what an iPhone or Samsung Electronics Co model with similar technical specifications costs locally.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
