Chinese Internet giant Baidu is reportedly to planning to re-enter the e-commerce market with a product named Baiyoupin which is currently under incubation. The focus would be on fresh produce and groceries, tech media platform 36Kr reports.
The new online retail platform, whose business model is not decided between B2C or C2C, will target the higher-end market. The team building it previously worked for Baidu’s sales system. Baidu CEO Xiang Hailong announced the news in an inner conference, said insiders familiar with the matter.
The new efforts rely on Baidu’s accumulated sources in local agencies, combining its search engine service with e-commerce. Baiyoupin teamhopes to fully take advantage of their purchasing, sales and delivery systems.