Alibaba’s Tmall to upend China’s real estate industry by using the internet for the entire sales process from viewing to paying
September 29, 2020 | internet | No Comments
China’s property developers, stymied by a months-long ban on showroom exhibitions and the worst economic growth pace in decades, are girding themselves for a new sales strategy in the age of the coronavirus – online sales.
Country Garden Holdings and other major Chinese developers are putting some of their new homes on Tmall Haofang, a new sales channel by the world’s largest e-commerce platform, operated by this newspaper’s owner Alibaba Group Holding. Selected real estate projects sold on the channel, which means “good homes,” will be entitled to discounts of up to 15 per cent off their catalogue prices.
“Developers are all under pressure to sell homes this year and we are hoping that Tmall Haofang can help