Suning.com Wages Price War against TMall for Singles Day
DoNews, 11/01/12
On October 31, Chinese consumer electronics and home appliances retailer Suning's (002024.SZ) B2C site Suning.com officially declared war on Alibaba Group's B2C e-commerce site TMall with an announcement by Suning.com executive VP Li Bin that the site plans a "three-day, three-night zero-cost sale" for the upcoming 11/11 "Singles' Day" sale. Suning.com announced that sales volumes will exceed 2011 Singles' Day sales volumes by 2,000%, for a sales target of RMB 5 bln.
The "zero-cost sale," which will coordinate online and offline promotions, will offer customers unlimited discount coupons equivalent in value to all purchases of RMB 300 of less. Suning's physical retail outlets will also take part in the promotion, with details on their participation to be announced on November 5.
When contacted on October 31, TMall declines to comment on its competitor's announcement.
Keywords: consumer electronics e-commerce Internet B2C Suning home appliances 002024.SZ Li Bin TMall Suning Yigou marketing Singles Day
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