Alipay, Taobao Testing Group Buy Function to Rival Pinduoduo
Cnstock.com, 8/07/18
Chinese third-party payment processor Alipay and Alibaba Group's (NYSE: BABA) C2C e-commerce site Taobao recently partnered to launch a new group buying function, which can now be accessed through a link at the bottom of the Alipay main page. The function is still undergoing "grayscale testing" and can currently be accessed by more than 100 mln users, with coverage gradually being extended to all customers. The new function is reportedly the first step in a multi-stage partnership between Alipay and Taobao.
The new group buying function is time-limited and offers users different group buy product deals during different time slots. Products are all sourced from Taobao merchants and cover more than ten product categories including daily necessities, food products, and clothing items. Group buy prices are lower than standard prices offered by Taobao merchants and many items are discounted by at least 50%.
Alipay's group buy function enables users to start their own group purchase groups by inviting friends. Users can also elect to use the system's matching service to join a group that has already been formed by other users. The function's ordering and membership systems are connected to Taobao and product recommendations are also based on the user's prior Taobao shopping habits.
Editor's Note: Alipay and Tabao's new group buy function is highly similar to mobile group buy platform Pinduoduo (Nasdaq: PDD), which IPO'd at the end of last month and is viewed as threat to syphon off e-commerce market share from Alibaba.
Keywords: e-commerce Taobao wireless Alipay C2C group buying Alibaba Group BABA m-commerce
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