This past Wednesday, no less than ten countries announced the opening of country flagship stores on Tmall, Alibaba's online marketplace. These stores are meant to cash in on Chinese consumers' rising appetite for imported goods.
The 10 countries, including Thailand, Russia, Mexico, Chile, Peru and Argentina, signed deals for the flagship stores with Tmall at the second China International Import Expo (CIIE) in Shanghai, rushing to catch up with Tmall's Nov. 11 shopping festival with their speciality food products, including blueberry, cherry, durian and beef.
During the second CIIE, 113 new brands will open stores on Tmall for the first time, according to Tmall. Over the past half year, more than 10,000 brands from all over the world have opened Tmall stores to reach Chinese consumers.
Alibaba, with 785 million monthly active mobile users for its retail marketplaces, has become one of the major platforms for overseas sellers to enter the Chinese market. At the first CIIE a year ago, Alibaba announced that it would import 200 billion U.S. dollars’ worth of goods into China within the next five years. By the end of October, it had exceeded the phased target by 23 percent.