Tmall Global to Welcome 2,600 New Overseas Brands at 11.11 Shopping Festival
Tmall Global aims to welcome 2,600 new international brands from markets including Malaysia and incubate over 2,000 in-demand overseas products, each with a GMV surpassing RMB 1 million, at the 11.11 Global Shopping Festival.
According to Tmall Global, the number of new brands launched on the platform increased 125% and their paid GMV grown 113% year-on-year, respectively, from April to end of August, 2020. More than 200,000 products debuted on Tmall Global from January to March this year. Malaysian brands that joined the platform early this year included bird’s nest brand PT Swift and food & beverage brand F&N.
“Due to the COVID-19 travel restrictions, there is significant growing demand for imported goods amongst Chinese consumers,” said Alvin Liu, President of Tmall Import and Export. “International brands need a trusted channel for reaching Chinese consumers, while domestic shoppers are looking for ways to buy more quality products from abroad. Our capabilities in consumer analytics, logistics, channel management and marketing support are making Tmall Global the premier meeting place for this activity.”
Introducing Livestreaming in Bonded Warehouses to Build Excitement
Livestreaming is a key channel for engaging Chinese consumers. Tmall Global has introduced an upgraded strategy to set up livestream studios in bonded warehouses and regional industrial parks to build shopping excitement. Tmall Global already has livestreaming studios in a bonded warehouse in Hangzhou, where hosts interactively share their experience on imported products with their viewers. Currently, more than 1,000 overseas brands including Malaysian brand PT Swift have participated in this initiative and generated more than RMB100 million in revenue. The studios will be expanded to another 10 cities in China, including Hainan and Shanghai, in the upcoming year.
In addition to domestic and overseas KOLs, Tmall Global will work with leading celebrities and merchants to host livestreaming sessions in bonded warehouses. These sessions will include subsidies and promotions, such as offerings from Alibaba’s value-for-money branded product platform Juhuasuan, to further fuel import consumption.
This latest move is part of Tmall Global’s “Three New” strategy launched in September 2019. New categories, new brands and new products, collectively known as the “Three New,” are being featured on the platform to provide domestic consumers with greater shopping options. The strategy has had an impressive impact. New products from around the world launched on Tmall Global surged by 130% year-on-year in the last financial year.
Launched in 2014, Tmall Global is an extension of Alibaba Group’s Tmall platform that addresses the increasing Chinese consumer demand for international products and brands. It serves as the premier platform through which overseas brands and retailers reach Chinese consumers without the need for physical operations in China.