51Buy to Run RMB 300 Mln Sales Promotion
Ebrun, 8/03/12
Bu Guangqi, CEO of Chinese internet giant Tencent's (0700.HK) consumer electronics B2C e-commerce subsidiary 51Buy, announced today that beginning in September 51Buy will invest more than RMB 300 mln in marketing resources, including rebates, and will initiate a price war targeting competitor 360Buy in southern China. A source inside Tencent's e-commerce subsidiary Tencent E-Commerce Holdings said that starting this month, the company will support 51Buy.com with a more than RMB 20 mln ad campaign covering subways, buses, and stations in Guangzhou and Shenzhen, touting 51Buy's "authentic goods, low prices, and lightning-fast shipping." Beginning in September, Tencent will begin directing a daily average of roughly 1.5 mln unique visitors to 51Buy's South China homepage - a higher volume of traffic than 51Buy's main page receives.
Bu said that 51Buy plans to hit a sales target of RMB 10 bln this year, with the South China region to be a major source of growth. Tencent E-Commerce's long-term goal is to achieve a 10% market share.
Keywords: consumer electronics e-commerce Internet marketing B2C Tencent Bu Guangqi sales target 0700.HK 51Buy
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