Tencent to Invest in Logistics Industry
Shenzhen Economic Daily, 11/10/11
Wu Xiaoguang, senior VP of internet giant Tencent (0700.HK), said yesterday that the company has firmly committed itself to further investment in the logistics industry. Details revealed by a source within Tencent's e-commerce division suggest that over the coming 5 years, the company plans to put tens of millions of RMB into developing profitable and long-term B2C logistics partners.
Wu said that following a year of investments, mergers and restructuring, Tencent's e-commerce operations now revolve around its B2B2C e-commerce platform QQ Buy (buy.qq.com), QQ Mall (mall.qq.com), and the company's B2C & C2C e-commerce platform, Paipai.com. Of those, QQ Buy partners mainly with independent B2C sites, QQ Mall primarily with traditional brands, and Paipai with individual entrepreneurs and small and medium enterprises.
In explaining the company's vision for QQ Buy, the source in Tencent's e-commerce division said that unlike QQ Mall or Hangzhou-based B2C e-commerce platform Taobao Mall, QQ Buy does not have distinct stores for specific brands or merchants within the platform, instead listing all products in one single group. QQ Buy ships items within 10 hours after the order is placed, and has a 10-day return policy. The source added that the target market for QQ Buy consists of white collar workers in first and second tier cities, whereas QQ Mall aims for professionals in third and fourth tier cities.
Wu said that unlike several of its competitors, Tencent sees no need to block C2C & B2C e-commerce site Taobao's ETao search engine from indexing content on its website, a decision based on the company's commitment to maintaining openness in its operations. "ETao receives far too little traffic," Wu added, "for Tencent to see it as something to worry about."
Keywords: Wu Xiaoguang QQ Mall e-commerce Internet investment B2C Tencent 0700.HK logistics Etao QQ Buy online search
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