Coming soon! Another big hit successfully passed the review

Unlike most businesses that focus on primary categories, Taili Technology's overseas expansion has always focused on subcategories. It has been shining and quietly making money on overseas online platforms such as Amazon with products such as vacuum storage bags.

Today, Taili Technology is about to be listed on the Shenzhen Stock Exchange's Growth Enterprise Market with its inconspicuous small products. It has now reached the "passing the meeting" stage and its listing is just around the corner.

Taili Technology sells 40 million vacuum storage bags in one year

As people's requirements for quality of life become higher and higher, the new business of organizing and storing has become increasingly popular, and a series of storage products have also become popular. Vacuum storage bags are one of them. You only need to fill and press the bag to empty the air in the bag, and the heavy winter down jacket will become "paper" in seconds. Guangdong Taili Technology Group Co., Ltd. (hereinafter referred to as "Taili Technology") has also benefited from this wave of dividends and is about to be successfully listed.

Taili Technology is positioned as a mid-to-high-end home storage products company. It owns several self-owned brands including Taili, LEVERLOC and Yishang. Relying on Amazon, Lazada and Shopee platforms, Taili Technology sells its products to more than 160 countries and regions around the world, including North America, Europe, Japan and South Korea.

Unlike most businesses that focus on primary categories, Taili Technology goes the other way and focuses on subcategories. Its products mainly include vacuum storage, wall-mounted storage, food preservation, household cleaning, etc., which are popular overseas and have high gross profit margins.

But if we talk about the biggest contributor to Taili Technology's listing, it must be the vacuum storage bag. The annual sales of this product alone exceeds 40 million. In 2022, Taili Technology's annual revenue was 638 million yuan, and vacuum storage bags contributed 43.93%, increasing from 5.18 yuan per piece in 2019 to 7.21 yuan per piece in 2022, with a gross profit margin of more than 50%.

On Amazon, its vacuum storage bag products are also a well-known sub-category brand, with a market share of 6.03% on Amazon. Overall, many products under Taili Technology have sold over a thousand units on Amazon and have been selected as Best Seller, Amazon's Choice, and #1 New Release.

Another product that performed well was vertical wall storage, which generated 186 million yuan in product revenue in 2022, accounting for 29.46%. Its unit price also increased from 7.02 yuan per unit in 2019 to 12.53 yuan per unit in 2022.

Relying on its subdivided categories, Taili Technology, which has been deeply involved in the home furnishing industry for 20 years, has also embarked on a unique path to go overseas.

Focusing on Amazon, Taili Technology doubles its cross-border e-commerce revenue

At first, Taili Technology sensed the business opportunities in the overseas market early on, and successively developed products such as three-dimensional compression bags and vacuum compression bags, and took advantage of the opportunity to enter overseas leading suppliers such as Walmart. However , since 2017, the domestic storage sub-category market has been relatively saturated, so Taili Technology began to explore B2C business in 2019.

However, Taili Technology was still an unknown brand abroad at that time, and was also facing the transformation of cross-border e-commerce and thinking about how to achieve brand expansion overseas through platform economy. Amazon, which is full of firepower, became an important chess piece for its entry into overseas markets. With a series of professional teams to operate products on Amazon in a targeted manner, Taili Technology, which seized the opportunity, successfully doubled its cross-border e-commerce sales revenue.

In 2021, Taili Technology's revenue share on Amazon also increased from 8.44% to 11.85%. In 2022, Amazon's platform revenue was 58.15 million yuan, accounting for 13.61%, second only to Tmall in China.

In the first quarter of this year, a metallic safety handrail under Taili Technology became popular on overseas e-commerce platforms, which is also because it is well aware of the habits of Europeans and Americans. It is understood that this product was originally white and blue in color. After market research, gray and metallic colors were specially customized for Europeans and Americans. Once it was launched, it was favored by a large number of overseas consumers. This category also occupies the top 3 position on overseas leading e-commerce platforms.

However, like most big sellers, Taili Technology also adopted the common multi-account store operation model in the early stage of company development, registering multiple store companies in the name of employees and their close relatives and operating multiple stores on the Amazon platform. Now all the above store companies have been deregistered and the corresponding Amazon platform stores have been closed.

As its brand awareness increased overseas and its products continued to appear at foreign exhibitions, Taili Technology also began to expand its B2B business and became a core supplier and strategic partner of internationally renowned brands such as IKEA, Walmart, and Lidl.

Foreigners are obsessed with storage, and the niche home furnishing market has great potential

As we all know, the home furnishing market has always been a battleground for Amazon sellers, and most sellers are attracted by the broad prospects of the home furnishing market. In 2020, the scale of the global home furnishing market was US$677.278 billion, and it is expected to reach US$851.984 billion in 2025.

Home storage is a popular sub-category. Americans love storage and also love to buy storage items. Products such as shelves, hooks, bags, etc. generally have high sales, which is a deep experience of many sellers. In the words of some sellers, as long as you capture the hobbies of Europeans and Americans, the sales of such products will generally not be bad.

In the home best-selling list on Amazon's US site, we can find that storage products with high frequency of use and a very wide range have been standing firm all year round, which also shows that Americans have a strong and stable consumer demand for storage products.

The editor learned that storage boxes, storage bins, storage drawers, hanging storage and other products have performed very well in the market. External network data shows that in the storage sub-category, the top 100 products with the highest sales are storage bags, accounting for 52.1%; and storage drawers are the type with the largest number of new products entering the BSR list within half a year, accounting for 50%.

Behind the rapid growth of these products lies the change in the market. Hit by inflation and rising interest rates, American consumers are shifting their focus from luxury goods to daily groceries, and storage products stand out with their advantages of high quality and low price.

In addition, hanger bags, housing racks, storage baskets, jewelry boxes, storage boxes, etc. are all hot-selling products in the storage supplies category on Amazon . Sellers who want to enter the same category can use them as a reference.

Home Storage

Taili Technology

Listing