Yandex Market will soon introduce wholesale supplies from China for entrepreneurs. This will help solve difficulties with cross-border payments. The marketplace is likely to gain additional revenue, even though it has many competitors. RBC writes about this.
Author:
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Initially, the project will operate in a test mode, a source familiar with the company’s plans told the publication. The market’s press service confirmed the information about the plans, clarifying that a showcase with products from China will be opened for wholesale purchases, but no further details were disclosed.
The RBC source says that the buyer will have the opportunity to select the desired goods and place a pre-order, while Yandex.Market will take care of the rest of the issues, including logistics, customs clearance, quality control and delivery to the address. The entrepreneur will receive the goods along with all the product documentation necessary for resale. He stressed that the products brought in this way can be sold not only on the Yandex Market storefront.
Due to the difficulties with cross-border payments, the issue of working effectively with China is especially relevant. INFOLine-Analytics CEO Mikhail Burmistrov speaks about this. Representatives of small and medium-sized businesses face the most problems. He said that entrepreneurs now use intermediaries to transfer money to China and lose about 5% of funds during such a transfer.
“In this sense, Yandex can certainly consolidate this story using its resources, make these operations much more efficient and, most importantly, eliminate intermediaries and independently make money on volumes,” says Burmistrov.
He added that providing services to other companies will allow the market to make its own transactions much cheaper by consolidating large quantities of goods.
At the end of August, Yandex Market gave sellers the opportunity to create their own product cards. Now they can manage all the content as they wish.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
