The deal, which does not include any financial investment in Bailian, is the latest in Alibaba’s still nascent efforts to capture a bigger share of the retail market as online sales growth slows. An Alibaba spokesman declined to comment on how many stores will be involved in the new partnership. China’s e-commerce market is expected to average around 18% annually until 2020, according to consultancy Bain & Company, compared with an average rate of 35% during the preceding four years. And while e-commerce has seen phenomenal growth in China, brick-and-mortar sales still accounted for 84% of total retail sales in China last year, Bain said. Among Bailian Group firms, shares in Shanghai Bailian Group Co Ltd were up by the 10% daily limit in afternoon trade.

Source: The Star February 21, 2017 03:04 UTC