Launched in 2017, the marketplace is unveiling a series of features these days intended to "strengthen the connections between luxury houses and Chinese Gen Z." "
Brand Content and loyalty in China
“Educate. To entertain. To hire. These are the three main areas mentioned by the Alibaba group’s luxury platform around its new strategy in favor of Chinese digital natives, increasingly fond of exclusive content and interactivity.
“The Chinese GenZ’s appeal for luxury goods meets their love for streetwear and pop culture. For them, luxury is much more than a status marker, it is a mode of expression, a vector of identity "indicates the group in a press release announcing its development towards a self-qualified" New Luxury ".
First component of this strategy: Soho Live, a daily livestream tool allowing houses to boost their interactions with their communities. This launch is accompanied by a new brand content medium, Soho Mag, an e-magazine operated by fashion columnists and other Key Opinion Leaders, all complemented by simultaneous purchase features. In addition to these initiatives, there is also an improved loyalty program, providing access to high added value experiences and services.
TMall Luxury
With these innovations, TMall Luxury - which concentrates more than 200 prestigious brands - intends to consolidate its presence among generations Y and Z; a strategic positioning with 80% of platform users under the age of 35 and the proportion of users in the 18-25 age group more than doubled between July 2018 and June 2019.
According to a study carried out by the firm McKinsey & Company, young luxury buyers in China spend an average of $ 3,600 per year on luxury products. Overall, Chinese consumers should account for half of the luxury goods market by 2025, boosted by the acceleration of online retail and an upsurge in purchases at the local level due to the drop in international flows caused by the epidemic of Covid-19.
Alibaba's Tmall Global marketplace is introducing more livestreaming from bonded warehouses and regional industrial parks to raise awareness of international brands on its platform.
As part of its build-up to the annual 11:11 global shopping festival, the China-based marketplace is setting up livestream studios across its homelands, where hosts will share their experience of imported products. Ten additional cities in China, including Hainan and Shanghai, will be added to the livestreaming roster in 2020.
see also : Open tmall Store on ecommercechinaagency
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