Tmall Global aims to boost spending on overseas merchandise
Alibaba's imported goods arm Tmall Global has unveiled new initiatives to boost consumers' spending on overseas merchandise.
Alibaba's overseas procurement centers will be updated to help source merchandise for the group's retail affiliates and partners such as fresh food and grocery shop Freshippo and Intime department store.
The Tmall import supermarket unit will be established in mid 2019 to allow one-stop shopping for daily necessity products.
"These new initiatives on Tmall Global will be supported by the entire Alibaba ecosystem including payments, logistics and service providers which we believe will benefit both current and future partners as we strive to meet the rising demand of Chinese consumers for high-quality international products," said Alvin Liu, General Manager of Tmall Import-Export.
Apart from enhancing direct import services which can help bring international goods from companies regardless of their business size, it will also strengthen overseas fulfillment centers where brands can place a small batch of products to be sold to shoppers through Tmall Global.
It hopes to host merchants from 100 overseas countries and regions within five years. Currently the cross-border platform hosts 20,000 brands in around 4,000 categories from 77 overseas countries and regions.
"Encouraging import businesses is an active embrace for business operators under the latest consumption trend rather than a positive response to mitigate trade imbalance between China and western countries," said Tang Min, Counsellor of the State Council.
Alibaba Group pledged at the China International Import Expo in last November to help import US$200 billion worth of goods in five years.
According to domestic consultancy Analysys International, Tmall Global holds one third of market share in the domestic cross-border online retailing market, and the major players will continue to grab more market share as market growth slowed down from previous years.