Technology is killing the traditional retailer. Victims will include those selling commodity brand-name-type products like consumer electronics, appliances, sporting equipment and furniture, and may even include those selling consumable goods.
By Igor Pesin, Partner at Life.SREDA
Vladislav Solodkiy, Managing Partner, Life.SREDA VC:
If you take a look at the news about fintech startups, you might get a feeling that all the new financial services are built for retail clients, but not for businesses. However, these are namely the entrepreneurs that may become drivers of fintech, especially in Asia. (more…)
TECHINASIA: Alibaba’s spin-off finance subsidiary, Ant Financial, today put out a major new update to its Alipay mobile wallet app. For the first time, the mobile wallet now has ecommerce merchants and shopping baked right into the app. It means that within Alipay, which is China’s top mobile wallet service with over 400 million annual active users, people can now find local services like fresh flowers or food delivery – and then pay for it all in the same app. As in Alibaba’s other marketplaces, all the things are from third-party sellers.