Hangzhou, 12th June: Chinese ecommerce giant, the Alibaba Group, unveiled a series of plans to diversify and boost sales on its B2C platform Tmall. In a bid to attract more customers, Alibaba aims to reduce the price of goods sold on Tmall by subsidising vendors to the tune of US$47 million.
The goods targeted will mainly be sold in the electronics category, where vendors can reportedly apply to Tmall for subsidies to reduce the price of goods sold or a rebate could be paid directly to consumers by Alibaba. Separately, Alibaba will also further expand its business portfolio by entering the online book-selling market. Also on the Tmall platform, Alibaba will offer more than 1.3 million titles including reference books, novels, and business-related books. This offering will be in direct competition with established players in China such as 360Buy.com, Dangdang and Amazon China.
Source: Business Strategies Group Hong Kong