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Alibaba Sales Surpassed USD 30 Billion on Singles Day

Chinese e-commerce giant, Alibaba reported record breaking sales of USD 30.8 Billion on singles day surpassing combined sales of Black Friday and Prime Day.

China: E-commerce giant, Alibaba set a record in sales 11/11 when shoppers swarmed the e-commerce platform. The company employed a televised entertainment spectacle featuring Mariah Carey and Cirque du Soleil to increase the business. Alibaba is making use of new search engines to make a holiday that includes dining and entertainment.

Xiaomi, Apple and Dyson were the top three brands in the early hours of the sale. The company introduced Singles Day discounts in 2009 and has turned the day into 24-hour bonanza for online shopping. The event has gained massive traction outside China in over 230 countries with USA, Japan and South Korea being the top three countries. Despite the trade war between the China and America, the United States remained in the number second spot. Cosmetics and small appliances registered strong sales on 11/11. Alibaba used an intelligent operating platform to optimise the performance of the global internet datacenters. The global tracking system was developed by Tmall Global, Alibaba Cloud, and Cainiao, which uses Internet of Things (IoT) and blockchain technology to verify products purchased by consumers through dual authentication and two-way encryption.

The CEO of the company stated that the company can feel that merchants are fully embracing the internet. The new global tracking system was developed to enhance consumer confidence and build a trusted environment for cross-border trade through end-to-end supply-chain transparency. 

According to TechSci Research, the sales of the e-commerce companies is expected to soar in the future owing to the rising penetration of internet and increasing number of e-commerce websites. Multitude of options to choose from, easy payment options and consumer friendly policies are expected to propel the growth of the e-commerce market. Burgeoning demand for e-commerce websites will also lead to the increased demand for applications security market.

According to the recently published report by TechSci Research, Global Digital Payment Market, By Type (Solutions and Services), By Deployment Mode (On-premises and Cloud-based), By Organization Size (SMEs and Large Enterprises), By Company & By Geography, Forecast & Opportunities, 2023”, global Digital Payment Market size is predicted to reach USD 87 billion by 2023, growing at a CAGR of over 15% during the forecast period. The growing usage of smartphones, various initiatives taken to promote digital payment and the growing e-commerce industry are the major drivers of the global digital payment market. In terms of type, the market for digital payment is categorized into solutions and services. The solutions category is further categorized in terms of payment gateway solutions, payment processing solutions, payment wallet solutions, payment security & fraud management solutions and POS solutions. Owing to the growth of the e-commerce industry, the payment gateway solutions category is projected to witness the fastest growth during the forecast period. Taking into an account of the geographical landscape, the North American digital payment market is projected to hold the largest share in the global market throughout the forecast period. The market for digital payment in North America is growing due to the presence of many digital payment solution providers in the region and the expansion of mobile commerce industry in the region. The Asia-Pacific market for digital payment is projected to witness the fastest growth during the forecast period. The complications associated with legacy payment services in the Asia-Pacific region have propelled the demand for consulting services and thereby bolstering the digital payment industry growth in the region. The key players in the market are ACI Worldwide Inc., PayU, PayPal Holdings Inc., Global Payments Inc., Fiserv Inc., Paytm and others.

According to the recently published report by TechSci Research, China Cosmetics Market, By Product Type (Hair Care, Skin Care etc.), By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), Competition Forecast & Opportunities, 2013 – 2023”, China cosmetics market is projected to grow at a CAGR of over 7% during 2018-2023.  Burgeoning demand for premium cosmetics, growth in working women population, rise of China's consumer class and increasing number of beauty salons are aiding China cosmetics market. Moreover, increasing per capita expenditure on personal appearance and growth in beauty and cosmetics market are some of the other factors expected to propel demand for cosmetics market over the next five years.

According to the recently published report by TechSci Research, Global Application Security Market, By Testing Type (Static Application Security Testing, Dynamic Application Security Testing , etc.), By Component (Solutions and Services), By Organization Size (Small & Medium Enterprises and Large Enterprises), By Deployment Mode (Cloud and On-Premises), By Industry Vertical (Government & Défense, Healthcare, IT & Telecom, etc.), By Company and By Geography, Forecast & Opportunities, 2023”, Global Application Security Market is expected to reach USD 9.26 Billion by 2023 at a CAGR of over 26% during 2018-2023 owing to growing targeted attacks on the applications, growing security breaches at business application level and growing risk factors for mobile-based applications have increased the security needs for applications. Based on testing type, the market has been segmented into SAST, DAST and IAST. The IAST (Interactive Application Security Testing) segment is expected to grow at a highest CAGR during 2018-2023 since, it allows greater exposure of internal and external weaknesses in the applications, which might fault the applications. The key player in the market are WhiteHat Security, Veracode, Trustwave and many more. Moreover, North America region dominates the Application Security market in 2017 and is also expected to maintain its dominance over the next five years as well due to the region focuses on innovations and is investing heavily on its research & development technologies.

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