Alibaba Moves Into OZ With Massive Discount Sites
The two sites that will be used by Alibaba Australia are Taobao and Alipay, both these sites will compete head on with EBay.
The sites allow consumers to buy individual products while consumer electronics distributors and retailers can buy product in bulk, however buyers have been warned that they could end up buying fake products.
Alibaba owns three main sites – Taobao.com, Tmall.com and Alibaba.com.
Taobao enables the public to sell to each other, while Tmall is designed to connect businesses to distributors and consumers.
Visitors to the T mall site will have to understand Chinese or use a Google translation service.
After floating recently in the USA Alibaba is now world’s largest e-commerce company eclipsing the likes of eBay and Amazon.
Group founder is former English teacher Jack Ma who started the business in his apartment in 1999. Mr Ma initially wanted to connect Chinese business and manufacturers with overseas customers. Since then, Alibaba has come to dominate 80 per cent of China’s internet retail market.
Today, Alibaba handles more business than any other e-commerce company worldwide, Last week Alibaba ran a one day sale that sold $9 Billion dollars’ worth of goods in a year, and this is more than Harvey Norman does in 12 months.
Transactions on its online sites totalled $248 billion last year, more than those of eBay and Amazon.com combined.
In September, Alibaba raised $21.8 billion in its debut on the US stock exchange, making it the biggest US-listed Company.
Earlier this year, Alibaba partnered with Australia Post to help more Australian businesses reach Chinese consumers. Under the deal, Australia Post also sells Alipay purchase cards.
Alibaba’s sites have been accused of peddling counterfeit products, but the company says it spends millions of dollars every year battling fakes.