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Overseas sales on Tmall take off
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CHINA’S largest e-commerce group Alibaba yesterday said transactions at its overseas shopping division Tmall International have risen more than 10 times since its launch in February this year.
By the end of November, as many as 5,400 overseas brands from 25 countries and regions have opened their official stores at Tmall, with 30 Tmall stores posting transactions above 10 million yuan (US$1.6 million), Alibaba said.
More than 100 overseas retailers from Europe and the US are waiting for approval from Tmall to launch their stores on the website. Other foreign retailers such as Germany’s Metro AG are also planning to open their official store on Tmall early next year.
The most popular categories on Tmall International include food, cosmetics, maternity and baby products.
Overseas retailers such as Zara, ASOS and Burberry have also joined Tmall this year to boost their presence and promote their products to consumers living in lower-tier cities, who don’t have access to physical stores.
Costco officially opened its Tmall store in October, and on November 11, dubbed Singles Day, sales surged to 22 million yuan during the 24-hour shopping frenzy. The US retailer also plans to expand its product offerings on Tmall next year.
Online retail sales are expected to jump 45.8 percent from a year ago to 2.76 trillion yuan this year, according to domestic Internet consultancy iResearch’s estimates.
Alibaba also said yesterday that it has also agreed with customs authorities in Shanghai, Guangzhou, Zhengzhou, Hangzhou and Ningbo to speed up customs clearance procedure and delivery process.
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