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Amazon's Whole Foods buyout an effort to outdo Chinese e-commerce giants

Sales made online are set to more than double to around 7% of China's broader grocery market by 2020

Reuters  |  Beijing 

As Inc looks to swallow grocery chain Whole Foods, China's tech giants are already digesting hefty bricks-and-mortar deals, taking the lead in the battle to transform supermarket shopping with big data and better supply chains. China's Alibaba Group Holding and Inc have invested heavily in offline retail - bricks-and-mortar stores - in recent years to complement their online offerings. With their ready-made payment and social media platforms to lure shoppers, Alibaba and have helped China become the world's largest online grocery market, far ...

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First Published: Thu, June 22 2017. 15:46 IST