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November 19, 2015

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E-commerce sites target Black Friday

CROSS-BORDER e-commerce websites are eying Black Friday business prospects in China, where consumers spend more on overseas products, industry officials said yesterday.

Ymatou, a cross-border e-commerce site, said it would invest “several million yuan” to promote overseas products and offer online coupons during Black Friday next week. Ymatou said the ordered products could be shipped directly to China within three to five days on average.

“Cross-border e-commerce has to meet various demands of consumers, instead of only milk powder and health care products,” said Zeng Bibo, chief executive of Ymatou, a startup which raised more than US$100 million in a latest round of financing in January.

Ymatou sells 400,000 products covering fashion, food and sports sectors from 35 countries and regions to meet the different requirements of consumers, said Zeng.

Amazon China also launched a marketing campaign yesterday to promote Black Friday sales.

It allows consumers to use local logistics and payment methods for overseas products purchases.

Over 35 percent of Chinese consumers are set to buy products through cross-border websites this year, up from 26 percent in 2014, a survey by Paypal showed yesterday.


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