While group-buying has slowed down in China, upcoming new start-up Qianpin is focusing on making e-commerce a localized experience. No group-buy or auction here, but instead Qianpin makes an effort to get merchandisers on board, offer discounted items (which can be purchased by oneself) and localization.
In an interview with Sohu IT, Qianpin says that group-buy growth in China has dropped in recent months, and Chinese consumers are getting less impulsive and more rational when buying stuff online. Qianpin also explains that group-buying can no longer meet consumers’ demand and believes that offering a localized e-commerce experience will benefit users more.
Qianpin’s idea is to build a “location-based Taobao” concept in each city in China.