In a move to extend its e-commerce services, Yahoo Hong Kong has partnered with 10 companies to unveil Yahoo Outlet, an online B2C platform that sells discounted branded products to local shoppers.
The participating companies are mainly from fashion, household, and electronics categories from Lenovo, Logitech, Lomography Asia, FrancFranc, Zwilling, as well as Japanese online apparel shop Nissen Hong Kong.
Lenovo has set up an outlet store on Yahoo to leverage on the wide reach that the portal has as well as the range of services it provides from auction, group-buying to news and entertainment on the site, says Alice Ong, general manager of Lenovo Hong Kong.
Because the online outlet will be available 24/7, it will complement Lenovo's marketing campaigns and provide a different experience from brick-and-mortar stores to further promote its brand, she adds.
Jenny Li, director of e-commerce for Yahoo Hong Kong did not give out details on the setup cost for a brand to be part of Yahoo Outlet but says that it offers a broad user base and an easy platform for operation and logistics.
"This launch is our commitment to addressing the growing consumer demand for online purchasing and to delivering inspiring and entertaining services that meet the online habits and needs of our users," Li notes.
To make its newly launched outlet platform compelling for online shoppers, Yahoo has introduced weekly "Flash Deals" for four weeks with steep discounts as much as 90 percent off original prices on limited items.
At launch, Yahoo Outlet can only transact on desktops but the company says it will be available on mobile in the near future.
Yahoo joined the group-buying fever in 2011 when it rolled out Yahoo Deals and positioned itself as a group-buying services aggregator in the city.
Almost two years since its launch, Yahoo Hong Kong's group-buying platform currently owns 68 percent of local market share. (Source: comScore, March)
While it might be a strong e-commerce player in Hong Kong with Yahoo Auctions and Deals services, it is facing increasing competition from Alibaba Group's Taobao Marketplace.
Early this month, Taobao launched Juhuasuan Overseas, a group-buying platform, targeting Hong Kong consumers to offer attractive discounts on premium products and services that are delivered to their doorsteps.
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March 19, 2014