Taobao.com, which last week entered the B2C auction market in China, has now launched a ranking service to help online sellers.
The new service is called Zhao Cai Jin Bao (Bringing Wealth and Riches). With it, sellers can have their goods listed at the top of the page by paying fees. But different from the search ranking of Google.com that charges clients according to the click rate, Zhao Cai Jin Bao charges sellers in accordance to their transaction volume.
A seller does not have to pay any fee if their goods are not sold–even if the goods are at the top position. In order to prevent disorderly competition, Taobao.com says that maximum price for the ranking should be CNY100.
At present, more than 200,000 different goods have participated in the ranking at prices ranging from CNY5 to 10.
According to Taobao.com's own statistics, there are about 28 million goods on Taobao.com each day and this total volume will reach 50 million by the end of this year. Based on this figure, Zhao Cai Jin Bao will bring at least CNY100 million for Taobao.com each year.