Tmall Sees Influx of New Merchants in 2024

Alibaba’s flagship e-commerce platform, Tmall, has reported a significant surge in new merchants joining its platform in 2024, underscoring the continued dynamism and attractiveness of China’s online retail landscape.

According to Tmall’s newly released 2024 Merchant Onboarding Report, the number of new businesses setting up shop on the platform saw a remarkable 83% year-on-year increase.

This influx of new blood is not just about quantity, but also quality and rapid success. The report highlights the impressive performance of these newcomers, with 32 brands achieving over 100 million RMB in annual transaction value within their first year on Tmall.

Furthermore, a substantial 733 brands surpassed the 10 million RMB mark, and over 1,600 brands achieved annual transaction values exceeding 5 million RMB.

The report also shed light on the most popular categories attracting new entrants in 2024, based on the number of new stores launched.

The top ten categories, in order, were: