News-China's Taobao, 360buy.com to Dominate E-commerce Industry
China's Taobao, 360buy.com to Dominate E-commerce Industry
Two of the largest comprehensive e-commerce platforms in China will dominate the market in the near future and it will be hard for smaller competitors to survive, experts said at a forum over the weekend in Beijing, Global Times reported.
Logistics capacity-building has become a "must" for every player at the table, because self-built delivery systems are currently the most reliable way in China to ensure quality services and retain customers, Wang Gao, a marketing professor at China Europe International Business School, told the Global Times at the forum Saturday.
Only the venture capital-backed 360buy.com and taobao.com, a subsidiary of Chinese e-commerce giant Alibaba Group, currently have the financial clout to build huge warehouses and shipping centers suitable for comprehensive platforms across the nation, Wang said, according to the newspaper.
(source: China Economic Review)
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