It is becoming trendy and vital for brands to make products debut on Alibaba's B2C e-commerce platform Tmall. Tmall also makes great efforts to help brands speed up the average product incubation cycles from 18 months to 9 months.
Tmall announced to input 100 million yuan worth of resources to provide a series of services and supports concerning impressions, supply chain, research and development, and cross-functional collaboration for new products. It aims to incubate 100 products with each generating over 100 million yuan (US$14.78 million) in GMV in 2019, according to data from Tmall's New Products Consumption Festival.
75 million Tmall users turned out to be new products-craving ones, on average, each of them placed 17.3 orders for new products every year. More specifically, 70% of them were female and over half of them were post-85s and post-90s. Though the first-tier cities still took the lead from the perspective of the total amount of consumption while consumers from ...
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