After years of success in commerce, Alibaba is planning to open up its first brick-and-mortar mall in China. It will be a five-story center called “More Mall” and is being built near the headquarters of Alibaba in the eastern Chinese city of Hangzhou.
The shopping center is being constructed on a massive 40,000-square-meter land area, and as per their schedule, it will be open to public in April.
Meanwhile, the e-commerce giant from Asia has been making other plans in China to enter the physical retailing market. Alibaba CEO Jack Ma stated that his plan is to connect the online world and the physical store. A classic example of this initiative is the company’s own grocery concept called Hema, which launched back in 2015, where buyers can order groceries through a cell phone and use Alipay for the purchases.
Sources indicated that More Mall will feature specific brands from its online retail platform Taobao, along with other regular brands. The mall will also feature a dedicated supermarket store for Hema.
A similar development is happening in the U.S., where Amazon has disrupted the local grocery store market by acquiring Whole Foods. However, so far there has been no confirmation on Amazon developing a physical mall.