15.05.2020 Alibaba Daily Analysis

15.05.2020 Alibaba Daily Analysis

In Malaysia's farming industry, farmers in Cameron Highlands had dumped hundreds of tons produced in March after the pandemic shattered the whole in markets and restaurants across the nation. Amazon (NYSE:BABA) was given a chance to crack a difficult arena.   The Southeast Asian subsidiary of Alibaba Group Holding Ltd., Lazada Group SA, they had opened a virtual store that links farmers and the home staying Malaysians. Consumers bought an average of 1.5 tons of cabbages, carrots, and spinach each day which caught the e-commerce giant by surprise. On the third day, the virtual store was introduced about 3.5 tons of vegetables were sold in half an hour, reaching 70 tons by the third week.   "Covid-19 is a catalyst for digital transformation in Southeast Asia. When consumers build a habit, it doesn't easily go away.  E-commerce will be a way of life", Lazada Group Chief Executive Officer Pierre Poignant said in an interview.   Alibaba(NYSE:BABA) going up by +$1.84, or by +0.92% at $201.30.