Overseas SMB Brands Facing Good Opportunities on Tmall Global
Tmall Global is becoming more and more popular with consumers and overseas businesses. Recently, in order to target overseas small and medium brands, Tmall Global will launch a series of measures to accelerate the process of foreign brands entering China.
Alibaba’s Tmall Global plans to hold a virtual online event called “Go Global 11.11 Pitch Fest” on September 15, 2020 to help overseas SMEs enter China and other regional markets.
The unprecedented new crown epidemic has brought challenges to European and American small and medium-sized enterprises. These companies are resilient and are seeking development opportunities. Tmall Global hopes to help more European and American small and medium-sized brands expand their business while bringing more high-quality European and American products to Chinese consumers.
In fact, more and more overseas brands recognize the business opportunities in the Chinese market. In recent years, the number of overseas new brands entering Tmall Global has increased by 300% year-on-year, the number of strategic partners’ brands has increased by 86% year-on-year, and the number of brands with annual overseas sales of 100 million yuan has increased to more than 80.
Today, import consumption has fully penetrated China’s consumer market. In the consumer group, more young consumers gather on Tmall Global, with more than 55% of consumers born in the 90s. Their consumer demand for diversified imported lifestyles is very strong. This group of people will be an important source of long-term rapid growth in China’s import consumption in the future.
Tmall Global, as an important platform for cross-border e-commerce, plays an increasingly important role in the process of overseas companies entering China.