Alibaba PR, 5/04/12
Chinese e-commerce conglomerate Alibaba Group today announced that its subsidiary, B2B e-commerce company Alibaba.com (1688.HK), has quietly launched an enterprise group buying service, "Bargain Buys." Through the service, Alibaba.com negotiates with its China-based Gold Suppliers, the manufacturers and distributors who pay membership fees to sell on the platform, for special discounts on merchandise, and then makes those discounted goods available to Alibaba.com buyers.
Bargain Buys also allows small-lot purchases, in order to help SMEs better manage inventory and minimize overhead. Products are updated on an as-available basis and the length of each promotion is determined individually with each supplier.
The service is available to Alibaba.com buyers worldwide, with some participating suppliers accepting payment through Alibaba.com's escrow service as an additional security layer when dealing with overseas vendors.