Taobao-Tmall-Logo.jpg (Photo : Advangent)
The Alibaba Group, and its founder Jack Ma, will end the year in the same manner that defined the entirety of 2014, as their international online shopping platform, Tmall International, recorded impressive year-end sales results.
Since opening to the public in February, transactions recorded on Tmall have increased 10-fold from the date of the launch until the end of November.
The new data, announced on Monday, follows the widely publicized Singles' Day sales event on Tmall, which generated 22 million yuan within a 24-hour period. Celebrated on Nov. 11, the historical Chinese day is typically a humble affair, but its reputation has changed since it received the Alibaba treatment.
After Ma's Alibaba e-commerce group broke stock market records in September for raising an unparalleled $25 billion, it will not be a surprise to market analysts that over 100 overseas brands are queued up to sell their wares on Tmall. The waiting list includes both European and U.S. companies.
Meanwhile, already approved retailers such as Costco, which officially launched on Tmall in October this year, plan to increase their presence on the popular platform in 2015. Other brands that joined Tmall this year include Zara and Burberry, while Germany's Metro AG is set to open next year.
Overall, it is anticipated that online retailers will generate 2.76 trillion yuan this year, which represents a 45.8-percent increase upon the same time in 2013.
Furthermore, Alibaba is not thinking about slowing down, as it also announced on Monday that agreements with select customs bodies will make the delivery process faster so customers can receive their purchases quicker.
