CHINA | 360buy.com, China's biggest online retailer, has announced that it will start selling directly to overseas buyers in the first such move by a major Chinese e-commerce firm. The move comes as the $44.58 billion Chinese e-commerce market begins to show signs of maturity and in the context of a recent price war, which became the subject of a government investigation.
The privately-owned company’s move into the global market will initially offer 400,000 new products at its English-language website en.360buy.com, shipping to 36 countries, with some of those items delivered free of charge. In order to shorten delivery times the company will set up warehouses outside China too.
The company’s attempt to go head-to-head with global competitors such as Amazon.com and Rakuten will be closely watched by other Chinese e-commerce companies such as Taobao and Dangdang. Though Taobao is by far the country's biggest e-commerce firm, it hosts other companies which sell goods, whereas 360buy sells and delivers products itself.
360buy's Vice President Shi Tao said: “In the initial stage, we want to buy made-in-China products domestically and deliver them to overseas clients”.