(Yicai Global) Oct. 25 -- Chinese home appliance retail chain Gome Electric Appliances Holding Ltd.'s [HKG:0493] e-commerce platform, Gome Online, will offer up rebates worth CNY300 million (USD45.45 million) for the country's annual Singles' Day shopping festival this year.
The firm will look to combine social interaction, e-commerce and internet technologies to empower users both online and offline, it said. Gome hopes to blaze a trail in new retail by offering up the subsidies, Beijing Business Today reported.
The rebates will be granted to buyers after they have actually paid for the goods, and are being used as an incentive to push customers to pay for products as soon as possible. The practice is commonly used by the nation's e-commerce platforms.
Gome has shifted from a traditional e-commerce model to involving more social contact, its chief financial officer, Fang Wei said. It is looking to form a personalized internet platform that can bring its users together, he added.