Alibaba To Attract Overseas Merchants Via English Portal
Zacks Investment Research | Jun 26, 2019 09:28PM ET
Alibaba Group Holding Limited's (NYSE:BABA) robust efforts toward enhancing product offerings continue to aid its dominance in the Chinese e-commerce space.
The company's latest strategy is to set up a new English-language portal on cross border e-commerce platform,Tmall Global. It also expects to set up other foreign-language versions of the website, namely Spanish, Japanese and Korean, in the near future.
This initiative is in sync with its strategies that are focused on bolstering the inflow of more merchants and businesses from around the world into China’s largest cross-border online shopping platform.
The deal will expand product options on Alibaba's Tmall platform, which in turn will help it cater to growing consumer demand. Alibaba expects this initiative to help it double the number of foreign brands on Tmall Global to 40,000 in the coming three years.
Consequently, this will drive the company's top line.
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The new initiative gives overseas merchants a chance to join the Tmall platform by filling in details online about their products. On verifying the category and quality of products, the merchants will be contacted within a time span of 72 hours. On the contrast, earlier sellers could only join Tmall through personal introduction, trade fairs or Chinese-language website.
The new portal definitely makes it easier for overseas merchants to enter the Tmall platform for selling goods. It also allows smaller businesses to introduce their brands to Chinese customers more quickly.
We believe that the latest initiative is likely to accelerate the company's plans of bringing international goods worth $200 billion to China over the next five years.
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