Tmall: The number of new merchants on the Tmall platform will increase by 83% year-on-year in 2024, and 733 brands will have an annual turnover of more than 10 million

Tmall released the 2024 Merchant Store Opening Report. The report shows that the number of new merchants entering the Tmall platform in 2024 increased by 83% year-on-year. Within one year of entering Tmall, 32 brands achieved a turnover of over 100 million yuan , 733 brands achieved an annual turnover of over 10 million yuan , and 1,600 brands achieved an annual turnover of over 5 million yuan.

According to the report, sorted by the annual number of store openings, the top ten popular categories in 2024 are: mobile phone accessories, snacks, cycling equipment, water cups and tea sets, condiments, trendy toys, bags, down jackets, household storage and new Chinese-style clothing.

In addition, Tmall also announced the top ten dark horse brands of 2024. Among them, the cycling wear brand Rapha entered the Chinese market for the first time in 2024 and chose Tmall as its first stop. Since opening its flagship store on Tmall in April, Rapha has continued to show strong growth momentum and successfully won the first place in sales of professional cycling wear during the Double Eleven period.

The top new ACG peripheral brand is Jiyi Kawa . The brand opened a flagship store on Tmall in September 2024, becoming the first official retail channel in mainland China. On the opening day, the Jiyi Kawa flagship store quickly attracted nearly 200,000 store fans, and even more than 300,000 people searched at the same time. The transaction amount on the first day exceeded 5 million, thus winning the top spot in the ranking of new ACG peripheral brands in 2024.

Finally, the report also announced the top ten brand-creating cities in 2024, among which Guangzhou won the title of the top city for brand entrepreneurship of the year with more than 12,000 newly opened stores.

Zikuai Technology