China : Imported product category numbers on Tmall climb 50%

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Imported product category numbers on Tmall climb 50%

31
Dec '16

Jack Ma led Alibaba Group’s Tmall Global ecommerce platform, which enables international brands to sell online directly to Chinese consumers, saw the number of imported product categories on the platform climb nearly 50 per cent to 3,700 in 2016. More than 14,500 international brands from 63 countries and regions sell on Tmall Global.

According to Alibaba, for more than 80 per cent of those brands, their Tmall Global virtual store was their first foray into the China market, which led to Tmall remaining China’s leading cross-border ecommerce channel in 2016.

“With a high national savings rate and a new generation that has more disposable income than ever before, China is eager to see consumption rise to keep propelling the economy forward, while consumer demand for foreign goods is already there and growing,” the Chinese ecommerce major said.

Over 70 per cent of Tmall Global shoppers are in the 24 to 32 age bracket, are middle class and have an annual income above RMB 100,000 or $14,400 and most hail from top or second tier cities, including Beijing, Shanghai, Guangzhou, Shenzhen and others. (AR)

Fibre2Fashion News Desk – India

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