NetEase's online overseas shopping platform Kaola.com will spend CNY400 million to launch a November 11 super foreign goods festival.
November 11 is a consumer shopping holiday started by Alibaba a few years ago to spur online shopping. So NetEase's push is a sign it plans to compete with the larger e-commerce rival.
Kaola.com will introduce over 3,000 brands and over 2,000 kinds of products from more than 70 countries and regions to Chinese shoppers. Those products are available for pre-sale starting from October 21, 2016.
Apart from Kaola.com, NetEase's full line of products, including news, email, and cloud music platforms, will participate in this festival. Meanwhile, its cooperating partners like Ctrip, China Merchants Bank, ICBC, and Smzdm.com, will also implement various activities to support NetEase's overseas shopping promotion.
Commenting on the November 11 shopping festival, Zhang Lei, chief executive officer of Kaola.com, said that they hope to bring surprises to consumers and they also hope the foreign brands and Chinese consumers can achieve better synergy via Kaola.com.