This week in Alibaba, Tmall and Taobao
YipitData tracks online marketplaces such as Alibaba and derives their KPIs for hedge funds and industry participants. Our local research team follows Chinese press to contextualize the Alibaba data we provide our clients. We’ll share important news on Alibaba, Tmall and Taobao on this blog.
Alibaba attempts launching a virtual credit card, but is quickly shut down by the People’s Bank of China (PBoC)
Alibaba is attempting to build the first internet bank in China. After announcing that credit cards could soon be associated with Alipay users’ accounts, the PBoC responded by suspending the initiative.
Security and privacy growing concern on Tmall
Customers on Tmall have reported a personal information breach including name, Alipay account and address. The manner of the breach is unclear, whether by Tmall, the merchants or Alipay. (China News)
Alibaba merchants respond to consumer protection laws with generous return policy
Thousands of Taobao and Tmall sellers roll out 7-day “no-questions” return policy in advance of consumer protection law implementation. (Alizila)
Tmall to announce portable Wifi device in competition with Baidu
Tmall is working with D-Link to produce a small portable wifi USB device, retailing for RMB 19.9 including shipping. Competitor Baidu’s product is already in market at RMB 18.9, shipping not included. The small device plugs into any computer with an internet connection and becomes a wifi hot spot, without any configuration needs, reducing data needs for individual mobile users while nearby a wired device. (MyDrivers.com)
YipitData tracks online marketplaces like Tmall, Taobao, Groupon, Expedia, Zulily, Lululemon, and more for institutional money managers and industry participants. Access our granular KPI data for these companies >>