Sales increase 66% on Chinese Cogobuy electronics marketplace in Q2
07.09.2015 270 views
Small and midsized businesses are buying more on China’s Cogobuy.com business-to-business marketplace for electronics products, providing the main driver of a 65.7% year-over-year increase in gross merchandise value transacted on the site in the second quarter ended June 30, to 5.8 billion yuan ($US912.66 million), the Hong Kong-based Cogobuy Group says.
Cogobuy says its own direct sales to businesses accounted for 73.3% of the purchases on the web marketplace in the quarter, with outside sellers accounting for 17.5%. The balance came from its supply chain financing business.
The e-commerce company says 57.9% of the transaction value was from small and midsized businesses, with the remaining 42.1% from large “blue chip” companies. It also notes that a surge in new transacting customers in the second quarter—to 7,485, up 109.8% from 3,567 a year earlier—also came mostly from small and midsized businesses. Those businesses accounted for 98.1% of Cogobuy’s transacting customers—those who purchase from its base of some 500 suppliers—at the end of the quarter. Cogobuy didn’t say how it defines small and midsized businesses. It said its number of registered customers in the quarter increased 64.5% to 40,891 from 24,860 a year earlier.
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Source: Internet Retailer
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