Alibaba Opens First Physical Store for Online Flea Market Xianyu in Strategic Expansion
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Alibaba's online flea market Xianyu is opening its first physical store in Hangzhou, China. The store will use a consignment model and accept a wide range of used goods.
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The launch is part of Xianyu's "strategic-level innovation" identified by Alibaba's CEO. Xianyu was named one of 4 Alibaba businesses that will operate more independently.
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The physical store provides a convenient experience for Xianyu resellers who previously had to handle inquiries through the app.
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Xianyu user numbers have been growing, with daily active users up 20% year-over-year in Q3 2022. The platform now has over 500 million users.
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Other "strategic" Alibaba businesses named by the CEO include wholesale site 1688.com, collaboration tool DingTalk, and search & storage product Quark.