Alibaba Set to Become the World’s Top Retailer

It’s phenomenal to see an idea that started with, ‘no money, no plan, no technology’ (Jack Ma’s interview with Inc) is all set to beat WalMart – as the world’s largest retail platform. Finance reports for this year indicate a boom of $463.3 billion trading volume this year for AliBaba. An official announcement is yet to be made by Alibaba Group Holding Lt at the end of this fiscal year on March 31st.

The Origin of Jack Ma and Alibaba

It is pertinent to note that the owner of Alibaba Mr. Jack Ma was no millionaire, neither a smart geek in his early years. In fact, he was penniless and had no stable job when he decided to start the company in 1999 in his own apartment. Jack Ma’s success slogan is, ‘global vision, local win,’ a business goal that many young entrepreneurs fail to understand or visualize. This was precisely why he named his company, ‘Alibaba,’ indicating its global nature and the fact that it translated to, ‘Open Sesame,’ leading the user into a world of retail products sold at the most optimal prices.

Walmart announced its net sales end of January, stating a figure of USD 478.6 billion for the fiscal year. Zhang Yong, Alibaba’s CEO provides further estimates as he expects the company to achieve a trading volume of USD 980 billion by 2020. Sharing future plans of implementing cloud technology and big data technologies along with the Internet of Things, the company aims to give a lot more than what it currently offers. In the near future, as the Internet of Things gains precedence in our lives, the company looks forward to meeting increased consumption with innovative additions to their business model.

The Future of Alibaba and Online Economy

The company’s directors and stakeholders see a positive pattern as China moves from an investment-driven to a consumption-driven economy and despite facing a fall in economic growth, China has still managed to beat the US in the e-commerce market.

According to a Forrester Research forecast, by 2020, the online spend per buyer will reach a $2,500 value, which is a 7% annual increase from 2015. And though this is a dollar statistic, doesn’t mean it’s not applicable to Pakistanis, especially since online spending is catching up rapidly here.

In fact, there are already thousands of people who have purchased from Alibaba (and AliExpress) rather than from local stores – of course with our customs, many have also been discouraged. Nevertheless, with the passing of time, expect to empty wallets thanks to companies fueling our spending desires!

  • I am using online purchase from Ali Express for quite a time now. Its service is excellent. Just for example yesterday I have received cover of my Xperia SP from China in just 150 rupees (free delivery service). Ebay & Amazon doesn’t even allow deliveries to poor countries. Alibaba & Ali Express rocks….

  • You have to use your credit card to shop from Ali Express. Make sure to allow & then block your credit card after shopping. Further you also have some courage to dauge our custom for any import duty charges. :)

    • I am using my Faysal Bank Card (formerly ABM Amso, then RBS & last Faysal Bank) online from last 10 years without any problem. From Nov 2015 onward I am booking my daewoo bus tickets online without any problem. Just remember and delete/scratch the three digit secure code from back of your card to make it safe.

  • Well I think soon AliBaba is going to suck revenue more than any other online market from each country. Only I have made a shopping worth more than a 1000USD during last year using various Debit and Credit Cards. Payment is completely secure (for those who fear using their cards online) and customs don’t interfere much with ordinary shopping

  • If you Can Bear the Delivery Time(7~30 Days),Then AliExpress is Best and Cheapest portal for everything

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