Strong import consumption highlights domestic demand potential; Tmall International’s sales volume exceeded one million brands on Double 11, up 46%

From November 1 to 11, 235 overseas brands achieved sales of over 10 million yuan on Tmall International, and the number of brands with sales exceeding 1 million yuan increased by 46% .

Tmall Double 11 still has a strong appeal to overseas merchants. This year, Tmall Double 11 attracted more than 29,000 overseas brands to participate, of which more than 2,800 new overseas brands participated in Double 11 for the first time through Tmall Global. Consumers checked in 87 countries and regions on Tmall Global's "Cloud Outbound Shopping".

New supply meets new demand, and new trends in import consumption continue to emerge. Consumers ' "global shopping carts" are filled with imported niche perfumes, second-hand Japanese luxury goods, overseas fresh produce, trendy toys, etc., satisfying their exquisite and personalized consumption experience and expectations for a better life.

(Fresh produce from overseas actively participates in Tmall Double 11)

As outbound travel is restricted due to the epidemic, overseas physical stores and small and medium-sized brands are accelerating their sales in the Chinese market. Japanese second-hand luxury stores such as Daikokuya and Brand Off, which used to be popular stores for tourists abroad, have entered Tmall International in advance. During the Double 11 shopping festival, all the popular products in Daikokuya's stores in Osaka, Shibuya, and Shinjuku were booked by Tmall consumers.

Double 11 and the CIIE were held simultaneously. Small and medium-sized businesses in overseas featured industrial belts that had just exhibited at the CIIE joined the consumption season through Tmall Global and sold new products from the CIIE simultaneously with Double 11. Dashanxing, a Canadian ginseng brand with the most retail stores in North America, reached a cooperation with Tmall Global at the CIIE. The sales of Dashanxing's overseas flagship store in the first six hours of Double 11 exceeded those in the first three days of last year.

"Although the challenges of the epidemic are still there, we feel more and more deeply that the pursuit of a better life by 1.4 billion Chinese consumers is always the most certain trend for the future and a profound driving force for the sustained growth of China's economy. " Liu Peng, president of Alibaba's B2C Retail Business Group, said that the import retail platform Tmall Global will continue to introduce overseas brands and continue to innovate new import models to enhance the stability of the cross-border supply chain.

In the past two years, outbound travel has been restricted due to the global epidemic, and import consumption has accelerated online. Cross-border e-commerce, as a new business model, has developed rapidly and become an important force in stabilizing foreign trade. As of the end of October 2021, the number of new overseas brands entering Tmall Global in the past year has increased by more than 120% year-on-year.

(Liu Peng, President of Alibaba B2C Retail Business Group)

With the support of national policies and customs, cross-border e-commerce platforms have accelerated the improvement of import ecological infrastructure, innovated new cross-border models, and launched cost-cutting and efficiency-enhancing measures to build a fast track for overseas small and medium-sized brands to enter China. Since 2020, Tmall International has continued to promote the new world factory model of "bonded import + retail processing", which is the first in China. It has been implemented in bonded areas such as Hangzhou, Suzhou, and Hainan, covering multiple categories such as beauty, coffee, bird's nest, personal care and daily chemicals.

During this year's Double 11, the first order of Tmall International's Suzhou Beauty "New World Factory" was successfully delivered, shortening the cycle from receiving demand to delivering finished products by two-thirds, saving 30% of production costs. It has achieved consumer-oriented retail and customized sales, and built a fast track for overseas small and medium-sized brands to enter China.

Tmall Double 11 is also a global Double 11, with merchants at home and abroad sharing the Chinese market, and strong import consumption demonstrating the potential of domestic demand. This year, Tmall Double 11 and the China International Import Expo were held side by side, and Alibaba's five-year plan to import US$200 billion (about 1.4 trillion yuan) announced the progress of the third year, completing 104% of the interim target , exceeding the target for three consecutive years.

Alibaba's large-scale import business will continue to improve the construction of import ecological infrastructure such as logistics, warehousing, and supply chain, assist the new development pattern of domestic and international dual circulation, and further release domestic import consumption demand.

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