Alibaba, the Chinese eCommerce giant will open offices in France, Italy, and Germany. The company is going to attract more online vendors from Europe. Alibaba wants to become a “gateway to China” for European vendors.
The president of Alibaba Group Michael Evens said that in the past only multinational companies could sell merchandise worldwide. But things are changing now and Alibaba wants to be in the front of these changes. The company wants the world to sell to China and vice versa.
It’s interesting that Alibaba’s opening its so-called embassies in Europe within a few months, just before so loved day in China—Single’s Day. Sales on this day, November 11, set records every year. in China. And Alibaba CEO of Alibaba multivendor shopping cart websites says that the company will help European sellers promote their products for Chinese consumers on the Singles’ Day. Last year Alibaba eCommerce marketplaces brought over 7.4 billion euros in revenue on November 11. It was an absolute record.
Genuine products from European sellers could be interesting for the China’s rising middle class. Statistics proves that this group will grow to up to 500 million in the upcoming decade. Evans says that middle class consumers of a multi-store platform want authentic, high-quality international products. So, European merchandise will be in a great demand.
The founder and chairman of Alibaba Group Jack Ma thinks that China needs to switch from exporting to importing. He says that this will change Chinese eCommerce: “This is a huge change for China. And it’s an opportunity not only for China, but it’s also an opportunity for the world.”