China-based Alibaba Group Holding Ltd is reportedly mulling the possibility of acquiring Rocket Internet’s online retail unit in Pakistan. This would help Alibaba expand its reach in the South Asian country, a person with knowledge of the matter was quoted as saying by Bloomberg.
“We have a new millennial shopper at hand. They don’t mind spending to have the kind of lifestyle they would like,” said Shabori Das, senior research analyst at Euromonitor, was quoted as saying. “It’s not like the Baby Boomer generation where savings for the future generation was important.”
Interestingly, Pakistan is going through what its neighbour India experienced four years back.
Both India and Pakistan have young population equipped with more income and less desire to save. This is a distinct difference to what retailers elsewhere are dealing with, pointed out Das.
