European luxury brands, online retailers are increasing cooperation with Paypal, Alipay, to test the waters of the Chinese online shopping market.
As online payment companies continue to duke it out and offer more incentives, Chinese shoppers consumers can skip the complex process of currency exchange, and purchase luxury goods from Gucci, Prada, Armani and other international brands directly through their websites, according to People’s Daily and Jing Daily.
Recently, after the Italian luxury brand Forzieri announced its cooperation with Paypal and launched a direct payment feature, the well-known fashion retail site Raffaello Network decided to test the waters of the Chinese online shopping market. As the No. 1 Italian fashion e-commerce website, Raffaelo Network sells Gucci, Prada, Fendi, Armani, Versace, Tod’s and many other international brands. Consumers can not only choose from among 40 designers and 15,000 items according to their taste, but also enjoy an average 40% discount below retail prices.
It has been reported that during the transaction process, Paypal’s “overseas purchase” service helps domestic [Chinese] consumers exchange yuan into foreign currencies immediately, which is then paid to the seller for overseas shopping, which increases the convenience of direct transactions. At present, the “overseas purchase” feature supports currencies like the British pound, U.S. dollar, Swiss franc, euro etc. — 12 foreign currencies in all.
In response, industry insiders have claimed that the convenience of overseas payment has greatly stimulated the desire of Chinese consumers to shop online, which could lead to more overseas online shopping sites entering the Chinese market.
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