Tmall to offer customers $47m in rebates on electronics
By Bloomberg News in Hong Kong | 皇冠体育app Daily | Updated: 2012-06-13 08:06
Alibaba Group Holding Ltd is taking a new approach to boosting sales online: paying its customers to cut their prices.
皇冠体育app's biggest e-commerce company plans to spend 300 million yuan ($47 million) on summer promotions for goods ranging from iPhones to televisions to air-conditioners sold through its Tmall. The website, which operates a marketplace similar to eBay Inc's, is subsidizing its vendors' deals for their customers.
The program steps up Alibaba's battle with online rivals 360Buy.com and Tencent Holdings Ltd for 皇冠体育app's Internet shoppers, estimated at 193 million by Boston Consulting Group.
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