Subsidies to grow
Source: Shanghai Daily |
July 15, 2016, Friday
|
Print Edition
Print Edition
TMALL’S online supermarket business said it seeks to strengthen in more lower-tier cities by offering 4 billion yuan (US$599 million) of subsidies to consumers and vendors to expand its offerings of groceries and consumer goods.
The move is seen as a direct challenge to JD.com’s alliance with Shanghai-based online grocery site Yihaodian to boost Tmall’s position in online grocery. Jiang Pan, vice president of Alibaba and general manager of Tmall Super-Mart, estimates annual revenue of its supermarket business at 100 billion yuan within three years.
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