YIWU, China, April 17, 2017 /PRNewswire/ -- Yiwugou.com, the official website of the Yiwu Commodity Market (YCM), which is the largest commodity wholesale market in the world, attended the 2017 China International Electronic Commerce Expo. The new retail platform "Youxuangou" was strongly promoted during the Expo and received extensive attention from Expo visitors.
From April 11th to 13th, the three-day 2017 China International Electronic Commerce Expo was held in Yiwu, Zhejiang province. This year's exhibitors included renowned Chinese and overseas e-commerce players such as Amazon, Alibaba, JD.com and Yhd.com. Plus, more traditional entities are exploring a new retail model for online-offline integration, which will derive new value from offline resources. The "Youxuangou" platform launched by Yiwugou.com is a new retail platform based on the huge market of Yiwu and featuring online-offline integration.
Why did Yiwugou.com, always a professional wholesale e-commerce platform, build the new retail platform "Youxuangou"?
E-commerce gears wholesale towards "wholesale+retail"
The development of e-commerce has been improving commodities distribution and logistics. Unburdened by the weaknesses of wholesale, such as pressure from large stock and slow upgrading of products, small-quantity procurement models are becoming more popular and less costly. Cities with developed wholesale such as Yiwu, Guangzhou and Shenzhen are all exploring the new "wholesale+retail" marketing model.
New retail model drives offline economy
2016 saw the continuously slower growth of pure e-commerce platforms and more intense competition between businesses. Pure e-commerce, always seen as a big threat by offline-economy entities, is now poised to transform itself as well. Big platforms such as JD.com and Taobao.com are moving offline. In the 2016 Computing Conference, Jack Ma, Executive Chairman of Alibaba, said: "Pure e-commerce is doomed and new retail will be born soon." Following this conference, Alibaba began to make moves offline. According to Jack Ma, the core of new retail lies in online-offline integration as well as supply chain restructuring and logistics upgrading, which will surely provide new engines for the offline economy.
Launching "Youxuangou" is well-timed
Since its inception in 2012, Yiwugou.com has been set to pursue online-offline integration, several years earlier than Jack Ma's proposal. In 2014, Chinese national leaders visited Yiwu and spoke highly of this model, which boosted the confidence of Yiwugou.com. In recent years, Yiwugou's online transaction volume keeps rising, which drives offline transactions worth tens of billions. With abundant supply, developed logistics and professional supporting services of the Yiwu market, the e-commerce ecological sphere needed by "Youxuangou" has been initially put in place. Thus, in line with the retail trends in the wholesale market, Yiwugou.com launched "Youxuangou".
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