CHINA’S ALIBABA LOOKS FOR BUSINESS OPPORTUNITIES IN LATAM
Chinese online shopping giant Alibaba has expressed an interest in doing business with Latin America, especially Mexico, Brazil and Argentina, by importing fresh foodstuffs to China and selling Chinese products to the region.
Argentinian shrimp and Mexican avocados already sell very successfully on Alibaba Group’s “Tmall” website. Chinese firms, meanwhile, made up 55% of Brazil’s overseas online shopping market, totaling more than 2.1 billion USD.
Alibaba Group was founded in 1999 by 18 partners led by former English teacher Jack Ma. It began as an online wholesale marketplace to help China’s small exporters and entrepreneurs reach global buyers.
As of 2014, it had an estimated 279 million active buyers and 8.5 million active sellers a year. Each active buyer made around 52 purchases per year, for total retail revenues of 270 billion USD.
That same year, Alibaba accounted for 76.2% of the total mobile retail sales in China, while AliPay accounted for roughly 50% of China’s online payment market.
Alibaba Group owns 10 online companies and maintains 90 offices across the Chinese mainland and 19 offices overseas.