Taobao Triples Online Trade Whoops eBay
Chinese are getting more used to shopping online.
One result is Taobao.com has nearly tripled its transaction volume in the first half of this year.
The site, more popular than eBay expanded its market share to 72.2% in the first quarter, up from 65% last year.
Average daily trading volume on the site in May and June was 100 million yuan ($13 million) – equal to peak times in 2006 – Christmas, weeklong May Day and
National Day holidays included.
In the first half of this year nearly 8,000 companies applied to have online stores on Taobao in its B-2-C channel. One in four were approved. Motorola, P&G and Logitech are
thinking "whew!"
The number of registered users is up 80% to 39.9 million.
Taobao was founded by Alibaba.com Corp, China's largest e-commerce company.
And…Alibaba charges no fees like its American counterpart.
Do you trade online?
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