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Fonterra sold $9 million of products at China's 'Double 11' one-day online event this month.
Fonterra sold $9 million of products at China's 'Double 11' one-day online event this month.
This was 217% higher than sales achieved during the 2014 event.
Fonterra's managing director Great China Christina Zhu told the co-op's annual meeting in Waitoa today that this highlights the power of e-commerce in China.
China's Tmall – the country's equivalent Amazon online, achieved US$14.3 billion dollars in sales on November 11.
Zhu says the Double 11 event has been a success for the co-op.
She pointed out that selling on Tmall was very profitable.
"We take out layers on distribution channels on e-commerce and this has a low cost base so it's quite profitable for us."
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