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16 January 2022
China's Gen Z offer potential for imported brands
Youth lifestyles & attitudesPurchase behaviourE-commerce & mobile retail
Gen Z consumers are the fastest-growing cohort on Tmall Global, Alibaba’s cross-border marketplace, and are helping reshape the consumer market – they’re willing to pay a premium for quality products, with sales of perfume, whiskey and fashion items all growing as a result.
The number of shoppers on Tmall Global born after 2000 grew more than 70% in the year to March 2021, according to an Alibaba executive; of the 100 million annual active users on the platform, around 30% were born after 1995.
Young consumers use scents to express their mood, personality and even values; they’re a driving force behind the growing popularity of niche perfume brands on the platform.
Young people with interest in wellness and self-care are turning health supplements into snacks; new brands are emerging to cater to this trend.
In 2021, more than 6,000 new brands entered China through Alibaba’s import ecosystem.
“Consumers of imported goods are getting much younger, with the fastest growth from Gen Z consumers, [so] their huge consumption potential is important to brands” – Alvin Liu, president of Alibaba B2C Retail.