Hangzhou, China, April 16, 2019 - Alibaba Group’s (NYSE: BABA) Tmall today announced it will launch a dedicated gateway for customers to discover new products through the Taobao mobile app, looking to cement its position as the “go-to” platform for such launches.
From Wednesday, customers clicking on the “Tmall” icon in their Taobao app will be directed to the “Tmall New Products” channel, which includes a full array of new features, such as Tmall’s “Most Sought-after New Items,” “The Next New Things,” “Limited Editions” and “New Flagships.” Working with brands and key opinion leaders, the channel will provide customers with in-depth information and recommendations on new products.
Supported by Alibaba’s data technologies, Tmall – the world’s largest B2C online and mobile marketplace for Chinese and international brands ¬– has long been an effective platform for showcasing new products and a one-stop shop for consumers to find the hottest new items online. It’s also a creative, experiential channel to interact with and learn more about new products, with its offerings of precise consumer insights letting brands and merchants develop strategies that target customers during product trials, pre-marketing, launch and after-sales.
“Building on our strong track record, we will continue to invest heavily in 2019 to help Tmall brands and merchants attract traffic and infuse innovation into their supply chain management, product development and cross-disciplinary collaboration. Our goal is for Tmall to become the top launchpad for global brands’ debuts. We will provide the necessary support to brands to make their product launches more effective, on target and successful,” said Jiang Fan, President of Taobao and Tmall.
The new channel for product launches is powered by Tmall’s already impressive suite of marketing tools, such as “Hey Box” and the Tmall Innovation Center (TMIC).
Launched in March 2017, Tmall’s “Hey Box” is a designated product-debut tool that offers brands consumer insights and data-driven strategies to increase the success rate of launching new products. And TMIC, established in April 2017, is dedicated to retail innovation, helping brands identify new channels and strategies to tap the Chinese market using precise market analysis, real-time consumer insights and product-concept testing.
Underpinning the strategy of creating a specialized channel for new products are the successes already notched by brands on Tmall, especially those using its marketing tools.
In the past year, 82% of new products tailored by TMIC became a top-three “hot” item in its category within 30 days of launch. TMIC has also reduced the product development cycle by half, to an average of nine months.
Last year, Estée Lauder, the leading global beauty and cosmetics brand, introduced a new serum. Supported by Tmall’s Hey Box solution, the brand boosted the product’s popularity to become the top-selling high-end serum within 30 days of the product’s debut on Tmall.
In March 2018, supported by Tmall’s consumer profiling and precise trial targeting, Maybeline launched its “FIT me” liquid foundation on Tmall and sold over 100,000 items in one day, setting the daily sales record for liquid foundation on Tmall.
And using Tmall’s data analytics, Swisse, the Australia-based vitamin, supplement and personal care product company, continued to refine its products in response to the preferences of its younger female customers in China. As a result, it was able to achieve sales growth of more than 50% every year since its cooperation with Tmall in 2016, with seven new products debuting on Tmall in 2018.
Launched in 2008, Tmall (www.tmall.com) caters to consumers looking for branded products and a premium shopping experience. A large number of international and Chinese brands and retailers have established storefronts on Tmall. According to Analysys, Tmall was China’s largest third-party platform for brands and retailers in terms of gross merchandise value in 2017. Tmall is a business of Alibaba Group.