KUALA LUMPUR, March 21 (Bernama) -- Tmall Global has unveiled two key initiatives that further Alibaba’s plans to bring international goods worth US$200 billion into China over the next five years. (US$1 = RM4.06)
Tmall Global is an extension of Alibaba Group’s Tmall platform. It is the premier platform for overseas brands and retailers to reach Chinese consumers without the need for physical operations in China.
The initiatives – the Centralized Import Procurement (CIP) and Tmall Overseas Fulfillment (TOF) – are import solutions offered to help international brands accelerate their entry into China and capitalise on hot demand for high-quality products.
CIP programme is a key part of Alibaba’s new retail business. By leveraging the six global procurement centres, the programme sources imported goods for all the online and offline outlets within the Alibaba ecosystem.
The programme is a quick and low-risk way for international brands to enter China, allowing them to reach the nearly 700 million active users on Alibaba platforms.
Meanwhile, TOF is a consignment solution that allows brands to place a small batch of products at one of the TOF centres to be sold on the Tmall Global platform.
This gives global businesses a chance to try out and fine-tune their product assortment before making full entry into China.
The TOF centres are currently available in Japan, South Korea and the United States, with plans to expand into Europe later this year.
To support these new initiatives, Alibaba’s smart logistics network, Cainiao, will continue to expand its network of bonded warehouses in China, aimed to triple its total size to three million square metres in three years.
According to Chinese data-analytics firm, Analysys, Tmall Global is the biggest cross-border platform in China. The platform offers Chinese consumers over 20,000 overseas brands and over 4,000 product categories from 77 countries and regions.
-- BERNAMA
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