Global Times | By Liu Dong
Liu Qiangdong, founder and CEO of 360buy.com, denied Friday the reports that the price war over home appliances is about to end. Liu said on his verified Weibo account on Friday afternoon that the price war would not cease.
“I never said the war is over, on the contrary, it has just started,” Liu stressed.
Liu initiated the price war on Tuesday after he posted dozens of messages on his personal Weibo and claimed all major home appliances from 360buy.com would be guaranteed to be cheaper than goods from its major competitors Gome and Suning.
The posts were retweeted more than 100,000 times online, prompting equal claims of cheap prices from Gome and Suning.
According to the Xinhua News Agency, the volume of both visitors to and sales at 360buy.com and suning.com increased more than tenfold over the past few days.
Li Huren, director of the home appliance department at the Shanghai Consumer Rights and Interests Protects Committee told the Global Times that consumers should keep a clear head.
“The price may be attractive at first glance, but eventually the quality and service are more important to consumers. Consumers should be more rational, as those factors could all cause losses in the long run,” he said.