Alibaba’s future may now be intertwined with mobile shopping and payments
Alibaba, one of China’s largest and most influence online retailers, has submitted its initial public offering files, which have been made available for public viewing. Mobile is mentioned some 254 times in the filings, underlining the company’s strong interest in mobile commerce. Notably, other companies that could rival Alibaba, such as Amaon and eBay, also have an interest in the mobile commerce space, but they lack the clout that Alibaba has managed to accrue in recent years. Currently, the company boasts of more online sales in China alone than both Amazon and eBay combined.
Company is making aggressive moves in the mobile space
Mobile is set to play a major role in Alibaba’s future. The company has been working on developing powerful web and mobile services that will make it more capable in the digital field. Alibaba has also been heavily promoting the use of its Alipay platform throughout China, an initiative that has been quite successful. The platform allows consumers to pay for products they find online using their mobile devices. Alipay is particularly popular with those living outside of major metropolitan areas because it provides them with more convenience in their shopping needs.
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Alibaba handles $37 billion in mobile payments in 2013
Alibaba claims that it accounted for some 76% of all mobile retail gross merchandise volume in China in 2013. This means that Alibaba processed some $37 billion in mobile transactions, most of which came from its Alipay platform. The company expects to see an even more promising 2014 as more consumers throughout China show favor for mobile shopping and embrace the Alipay service.
Tencent may be able to compete with Alibaba in the mobile commerce sector
Alibaba’s only true competitor is currently Tencent, another massively influencial company in China. Tencent also has a strong interest in mobile commerce and has the ambition to become the country’s leading mobile commerce entity. Tencent has managed to establish a strong foothold in the mobile sector with its WeChat application, which is quickly becoming a powerful mobile commerce platform in itself.