Tuesday, December 1, 2015   

Alibaba intensifies US online retail push
(02-13 11:29)

Alibaba Group is planning an e-commerce push into the United States with a new website as China’s largest electronic vendor prioritizes a potential listing overseas.
Alibaba, through US-based subsidiaries Vendio and Auctiva, will unveil an online retail store, 11 Main.com, the company confirmed late Tuesday, Xinhua said citing a China Daily report.
The virtual marketplace under construction will feature technology items, jewelry and fashion goods, whose sellers are “handpicked" shop owners. It did not specify whether the site will follow the example of alibaba.com that targets intra-entrepreneur businesses, or feature a Tmall-like business-to-customer site.
“Alibaba is happy to support 11 Main," according to an e-mailed reply to China Daily on Wednesday.
“Alibaba is run by entrepreneurs and firmly believes in supporting entrepreneurs with great vision and a strong sense of mission for their companies."
According to Alibaba, the decision to tap into boutique e-commerce was generated by Vendio and Auctiva, two firms acquired by the group's business-to-business unit in 2010.
Both software providers enable small and medium-sized enterprises to sell inventory across online channels as well as mobile devices.
The acquisition has helped draw more US companies to Alibaba's trade matchmaking services and offer an alternative channel on which its existing customers can sell products online.
The move marks the latest overseas expansion by Alibaba, which acquired a minority stake in US online vendor ShopRunner Inc last August.
Alibaba's Tmall sold products worth 35 billion yuan in the November 11 promotional gala, including overseas destinations such as the United States and Southeast Asian nations.
It also rolled out a direct procurement platform, known as AliSourcePro for small-scale buyers and sellers overseas, said Qi Junsheng, business director of the international department of the company's business-to-business unit.
Alibaba has more than 7.2 million registered members in Europe, including more than 1.6 million in the UK, 420,000 in Germany and 495,000 in France, said James Hardy, Europe, Middle East and Africa director of Alibaba, in August.
While its presence in the US can be traced back to almost a decade ago, recent acquisitions might help fuel its business penetration of the local market, said Zhang Jing, an analyst of digital commerce with consultancy iResearch.
"It aims to grab a seat in a market where the e-commerce landscape is mature, and forerunners such as Amazon Inc and eBay Inc compete fiercely," said Zhang.
Other Business breaking news:
HK posts HK$33b fiscal deficit (11-30 19:28)
HK yuan pool shrinks in October (11-30 19:23)
China stocks rebound at close (11-30 15:49)
Yuan weakens (11-30 14:06)
China proposes electricity futures and derivatives market (11-30 14:01)
China public floats resume (11-30 13:59)
China, HK stock sell-off continues (11-30 12:56)
Uptick in Japanese factory output (11-30 12:29)
Greek pensioners vow to defy proposed cuts (11-27 16:52)
Skin care drug prices rocketed by 401pc since 2009, US study finds (11-27 16:48)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.