Chinese 3C etailer turned online department store 360buy claimed more than 37% of China’s B2C market, according to Zhang Shouchuan, the Beijing-based company’s vice president.
Taobao Mall, the B2C subsidiary of Alibaba which just changed its Chinese brand name to Tianmao (translates to Sky Cat in Chinese) secured over 50% market share under its belt in the third quarter of last year, according to Beijing-based market observer iResearch while 360buy.com, accounted for only 18.6% market share at the same time period.
360buy’s nearly twofold increase in the market could be partially ascribed to the fast-paced growth of its open platform, or 360buy POP, which saw more than 200% growth lately.
360buy’s daily average orders reached about 400,000 over the past year, Zhang said.