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Business / Companies

Wanda broadens horizon to e-commerce

By Meng Jing (China Daily) Updated: 2014-07-18 07:17

Intime Retail (Group) Co Ltd, a Hong Kong-listed company that owns department stores and commercial real estate assets, teamed up with e-commerce conglomerate Alibaba Group Holding Ltd earlier this year to integrate e-commerce with brick-and-mortar businesses. A highlight was last year's Nov 11 shopping discount festival, when Alibaba allowed users of Tmall, a business-to-consumer platform, to place orders online while picking their orders up at Intime so that they did not have to wait for deliveries.

Wanda broadens horizon to e-commerce 
Wanda's IPO junked by regulator
Wanda broadens horizon to e-commerce
Wang Xiaoxing, an analyst with Beijing-based research firm Analysys International, said that it is likely that Wanda will integrate all of its offline resources, such as shopping malls, hotels and resorts, into one online platform. "For example, consumers can shop online to get discounts and other value-added services, and then watch a movie or dine at a restaurant in the nearby Wanda Plaza," said Wang.

Wang Xiaoxing said that Wanda's network of brick-and-mortar stores makes consumer visits its biggest asset to develop online-to-offline business. "However, as a traditional department store operator, Wanda needs talents to change its mindset in managing an e-commerce company," he said, adding that Wanda is likely to partner with group-buying sites or companies with strength in online payment.

Wanda made its first attempt in e-commerce by launching Wanhui, a website that offers various coupons that can be used in Wanda's shopping plazas, in December. But the newly founded company was soon in turmoil after most of its senior executives left for unknown reasons.

Lu Zhenwang, an independent Internet expert and the chief executive officer of the Shanghai-based Wanqing Consultancy, said the huge business portfolio of Wanda means it would be difficult to integrate all of the group's resources into one online platform.

Wang of Wanda also said the group will set up a finance company to oversee investment plans. He said Wanda will also look to list one or two companies in the second half of the year.

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