Shares of Alibaba fell on Thursday morning, despite an exciting news story involving the Chinese e-commerce juggernaut, which is rushing to shake up the way people buy cars in China. Alibaba seems to be taking a page from Amazon’s acquisition of Whole Foods, with the continued push into physical retail. The plan outlined by Alibaba, is to open two giant car vending machines in early 2018, shaped like a futuristic tubular building with a giant cat’s head on top.
Having monopolized the online world, Alibaba continues to push offline with investments in Chinese bricks and mortar retailers.
Alibaba CEO Daniel Zhang said back in November, ‘physical stores serve an indispensable role during the consumer journey, and should be enhanced through data-driven technology and personalized services in the digital economy.’
This post was published at Zero Hedge on Dec 15, 2017.