Since 2020, Tmall Global launched three major strategies: accelerating the entry of overseas brands, building an international business incubation center, and launching imported flagship stores. Tmall International strove to incubate 1,000 companies this year, and fully promote the five-year US$200 billion import strategy.
Affected by the global pandemic, China’s import market has experienced short-term fluctuations but long-term improvements. Many new categories and new products have emerged under the pandemic, and seizing new consumption opportunities in the Chinese market was crucial for global brands.
Three strategies to incubate thousands of “digital first stores”
In order to accelerate the entry of overseas brands into China, Tmall International has simplified the process and set up a dedicated team to provide merchants with one-on-one Chinese and English entry services. Ensure that businesses quickly settle in and open stores within 30 days.
Overseas brands accelerate online sales under the global pandemic
The epidemic has not stopped overseas brands from entering China. Data shows that from January to March this year, more than 200,000 new products have moved to Tmall Global, and the rate of overseas brand openings has increased by 327% year-on-year.
Data show that in February this year, the imported goods purchased by Chinese consumers on Tmall International increased by over 52% year-on-year. This has collectively benefited overseas brands who have deployed cross-border e-commerce early, and attracted more brands to accelerate their entry. When offline channels are blocked, online platforms have become channels for global brands to expand sales.
Accelerate the realization of the five-year goal of 200 billion import trade
At the first CIIE in November 2018, Alibaba announced that in the next five years, Alibaba will complete its import trade goal of 200 billion U.S. dollars, covering key industrial belts in more than 120 countries and regions around the world. At the second China International Import Expo in 2019, Alibaba has completed 123% of the original plan.
The growth rate of overseas brand entry increased to 2.1 times that of last year, the number of first new products increased by 130% year-on-year, and 33 new brands with sales exceeding 100 million yuan were added.
Up to now, more than 25,000 overseas brands from 92 countries and regions around the world have entered Tmall International, covering more than 5,100 categories, and more than 80% of brands have entered China for the first time.