Yahoo! Hong Kong quits online commerce space
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Yahoo! Hong Kong is to close its commercial operations, including Yahoo! Auctions, Yahoo! Store, and Yahoo! Group Buy.
The company posted a message in Chinese on its website yesterday, announcing the move.
Yahoo! Hong Kong said the decision reflected a “strategic directional change” and said new shopping experiences will come.
Citing “fierce competition”, the platform will suspend buying and selling features on March 24 and close on May 31. Until then, transaction history, past communications and other relevant data can be downloaded for users.
The peer-to-peer marketplace Yahoo! Auction has been running for more than 20 years, and was considered a pioneer of Hong Kong’s e-commerce scene by many. Throughout the decades, several Yahoo! Auctions marketplaces have been terminated around the world, but the concept found success in Hong Kong, Japan and Taiwan, until now. Only the latter two will continue to operate for now.
Questions & Answers
Q.What services will Yahoo! Hong Kong be closing down?
What services will Yahoo! Hong Kong be closing down?
Yahoo! Hong Kong is closing its commercial operations, which include Yahoo! Auctions, Yahoo! Store, and Yahoo! Group Buy. This move was announced on its website yesterday.
Q.When will users no longer be able to buy or sell on the platform?
When will users no longer be able to buy or sell on the platform?
Buying and selling features on the platform will be suspended on March 24. The full closure of the services is scheduled for May 31.
Q.Why is Yahoo! Hong Kong making this decision?
Why is Yahoo! Hong Kong making this decision?
The company stated that the decision reflects a 'strategic directional change' and cited 'fierce competition' as a reason. They also mentioned that new shopping experiences will be introduced.
Q.Which Yahoo! Auctions marketplaces will continue to operate globally?
Which Yahoo! Auctions marketplaces will continue to operate globally?
While many Yahoo! Auctions marketplaces have closed worldwide, the concept found success in Hong Kong, Japan, and Taiwan. After the Hong Kong closure, only the operations in Japan and Taiwan will continue.
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