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In the fiscal year ending March 31, 2020, Chinese e-commerce corporation Alibaba Group recorded consolidated revenues of around 717.3 billion yuan. This translates to approximately 109 billion U.S. dollars.
Alibaba
Alibaba was originally founded in 1999 as a B2B e-commerce portal to connect Chinese manufacturers with overseas buyers. In 2003, the service expanded to include Taobao, a C2C e-commerce marketplace and in 2008 Tmall, a B2C online commerce platform focused on brands and online retail. To round off the digital offerings, group shopping and flash sale website Jujuasuan was launched in 2010.
Overall, the largest portion of Alibaba Group revenues are generated through Chinese-based e-commerce as company data states 473.7 billion yuan segment revenue in 2021. That year, retail e-commerce in China accounted for 66 percent of company revenue. International commerce retail totaled 34.5net billion yuan of annual revenues. Alibaba Group’s net income amounted to 143.3 billion yuan.
The group’s monetization model relies heavily on online marketing services including P2P marketing services, display marketing and promoted selling as well as commissions on transactions and storefront fees. Alibaba’s Chinese retail marketplaces had around 811 million annual active buyers.
Alibaba also holds stakes in online video company Youku Tudou and entertainment company Alibaba Pictures.
According to a 2021 study, nearly 90 percent of known global coal reserves would need to stay in the ground for a chance of keeping global warming below 1.5 degrees Celsius. Many fossil fuel companies and governments who owned coal, oil, and natural gas reserves were at risk of seeing their assets stranded in order to mitigate the climate crisis.
On June 17, 2016, Korean education brand Pinkfong released their video "Baby Shark Dance", and the rest is history. On February 11, 2021, the video was the most-viewed YouTube video of all time, surpassing the former record holder "Despacito" by Luis Fonsi. "Baby Shark Dance" currently has 9.2 billion lifetime views on YouTube.
Music videos on YouTube
“Baby Shark Dance” might be the current record-holder in terms of total views, but Korean artist Psy’s “Gangnam Style” video remained on the top spot for longest (1,689 days or 4.6 years) before ceding its spot to its successor. With figures like these, it comes as little surprise that the majority of the most popular videos on YouTube are music videos. Since 2010, all but one the most-viewed videos on YouTube have been music videos, signifying the platform’s shift in focus from funny, viral videos to professionally produced content. As of 2019, about half of the U.S. population accessed YouTube for music consumption on a weekly basis.
Popular video content on YouTube
Music fans are also highly engaged audiences and it is not uncommon for music videos to garner significant amounts of traffic within the first 24 hours of release. Other popular types of videos that generate lots of views after their first release are movie trailers, especially superhero movies related to the MCU (Marvel Cinematic Universe). The first official trailer for the upcoming film “Avengers: Endgame” generated 289 million views within the first 24 hours of release, making it the most viral movie trailer.
At 7.04 U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the July 2021 Big Mac index. Concurrently the cost of a Big Mac was 5.65 dollars in the U.S., and 5.02 U.S. dollars in the euro area.
What is the Big Mac index?
The Big Mac index, published The Economist, is a novel way of measuring whether the market exchange rates for different countries’ currencies are overvalued or undervalued. It does this by measuring each currency against a common standard – the Big Mac hamburger sold by McDonald’s restaurants all over the world. Twice a year the Economist converts the average national price of a Big Mac into U.S. dollars using the exchange rate at that point in time. As a Big Mac is a completely standardized product across the world, the argument goes that it should have the same relative cost in every country. Differences in the cost of a Big Mac expressed as U.S. dollars therefore reflect differences in the purchasing power of each currency.
Is the Big Mac index a good measure of purchasing power parity?
Purchasing power parity (PPP) is the idea that items should cost the same in different countries, based on the exchange rate at that time. This relationship does not hold in practice. Factors like tax rates, wage regulations, whether components need to be imported, and the level of market competition all contribute to price variations between countries. The Big Mac index does measure this basic point – that one U.S. dollar can buy more in some countries than others. There are more accurate ways to measure differences in PPP though, which convert a larger range of products into their dollar price. Adjusting for PPP can have a massive effect on how we understand a country’s economy. The country with the largest GDP adjusted for PPP is China, but when looking at the unadjusted GDP of different countries the U.S. has the largest economy.
In September 2021, the Labor Party was the most-popular party in Norway based on voting intentions. The Conservative Party, the party of the current Prime Minister, was the second largest with 20.1 percent of the votes. The Centre Party has seen its support drop from 21 percent at the beginning of the year to just 12.1 percent in the weeks leading up to the election. Both the Progress Party and the Socialist Left Party grew from August to September. The parliamentary elections in Norway are due to be held on the 12th and 13th of September. In Norway, the electoral threshold is four percent.
Substack, a platform launched in 2017 to help indepenent content creators monetize e-mail newsletters has seen a recent surge in popularity. The latest figure, reported as of February 2021 shows the service as having over half a million subscribers - more than double the figure from September 2020 five months prior.
As of 2020, Stripe was the most valuable fintech company in the United States. The value of the firm, which provides payment processing services and is headquartered in San Francisco, amounted to 35 billion U. S. dollars. Root, a digital insurance provider, followed in the ranking, with a valuation of approximately ten billion U.S. dollars. In 2020, eight of the ten largest fintech deals involved companies headquartered in the United States.
Fintech industry
Fintech stands for financial technology, and it refers to businesses that offer financial services using software and technology. Thanks to their innovative attitude, fintech is often associated with start-ups, but this is not necessarily the case. In fact, established businesses can also engage in fintech activities. Fintech is a fast-growing industry: in 2020, global investments in the sector were more than eleven times higher than in 2010. Also, the large majority of fintech investments concentrated in the Americas, with Europe, the Middle East, and Africa (EMEA) lagging considerably behind.
Customer awareness
Despite its increasing relevance, the awareness of fintech among potential consumers appears to remain low. According to a survey conducted in 2019, the vast majority of citizens with a bank account in the United States never heard of fintech before. However, the degree of awareness varied greatly according to the age of the respondents, with younger ones being more informed about the fintech industry.
Most of the population in El Salvador was skeptical of Bitcoin (BTC), according to a survey conducted in August 2021, one month before the currency was to become a legal tender in the country. Roughly 15 percent of respondents to the poll from a Jesuit university in El Salvador said they either had some or a lot of confidence in the cryptocurrency. This overall lack of confidence is noticeable, as El Salvador was set to become the world's first country that accepts cryptocurrency for payments in September 2021. From that month onwards, the Central American nation would see BTC join the U.S. dollar as a national currency. The United States was El Salvador's biggest trade partner in 2019.
In 2020, the global e-bikes market reached around 25 billion U.S. dollars. It is projected to climb at a compound annual growth rate of just under 10 percent between 2021 and 2028, to reach just under 48.5 billion U.S. dollars.
Many celebrities have jumped on the bandwagon to create an account on Douyin (aka TikTok) – the most popular short video app in China. Some of them have the power to influence millions of people with a single post. As of July 2021, the Chinese actor Chen He was the most followed celebrity on Douyin. His account had amassed nearly 72 million fans in China. The second place belonged to Andy Lau, an actor and singer from Hong Kong; the third spot was taken by Dilireba Dilmurat, a model and actress of Uighur ethnicity.
What is Douyin?
Launched by ByteDance in 2016 as a 15-second music video UGC app, Douyin is one of the pioneers in the “fast entertainment” industry. Within merely four years, the app managed to reach 600 million daily active users. Behind Douyin’s success is its sophisticated AI-based algorithm, which is designed to learn user preferences so well as to constantly fine-tune which videos should appear on the feed to get users to stay in the app. Viral videos on Douyin can gain up to 200 million views within 24 hours.
Douyin and influencer marketing
Owing to its massive user base and traffic, the Chinese TikTok has become a new marketing battlefield sought after by many brands. The app offers display ads, buzz marketing, and live-streaming functions for companies to promote their products. Foreign cosmetics brands Olay, Guerlain, and Unny have also reached out to top-tier influencers on Douyin like Li Jiaqi to boost their brand awareness.
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