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Woolworths follows Macy’s, Costco with plans for Tmall shopfront

Bloomberg Published on Tue, Dec 22, 2015 / 12:15 PM GMT+8

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(Dec 22): Woolworths is setting up shop on Chinese online site Tmall.com, following the path of overseas retailers including Macy’s Inc. and Costco Wholesale Corp. as Australia’s largest supermarket chain attempts to reverse declining earnings.

Sydney-based Woolworths has engaged eCargo Holdings to build a storefront on Alibaba Group Holding-owned Tmall, as well as coordinate inventory, packing and distribution, eCargo said in a statement to the stock exchange Tuesday.

The value of online retail in China is forecast to more than triple from 2014 to reach 10 trillion yuan ($2.1 trillion) by 2020, according to a study by Bain & Co. and Alibaba released last month.