Alibaba Group’s (NYSE: BABA) Tmall, and L’Oréal China said today they’ll work closely together to find new ways for the beauty group to tap into the Chinese market, leveraging data-driven consumer analytics and a new value chain that better connects consumers, products and channels.
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Tmall Innovation Center (TMIC), the retail innovation arm of Tmall, will work closely with L’Oréal China to catalyze the consumer-to-business (C2B) approach, based on insights and trends generated from the 600 million-plus customer base across Alibaba’s marketplaces.
The partnership’s first initiative will focus on China’s male-grooming industry. According to a white paper co-developed by TMIC and L’Oréal China Consumer Intelligence Team, online sales of men’s grooming products have increased by more than 50% in each of the past two years. In the past year, 62% of the male consumer pool between the ages of 15 and 50 said they used male-specific facial skincare products, showing a massive addressable market for male grooming products.
“With Tmall’s unparalleled customer insight, we are committed to helping L’Oréal China offer its customers best-in-class personalized product experiences. Tmall has transformed product development in every area, from product innovation and brand building to consumer assets and channel management. We help brands discover new demand and markets as well as offer completely new customer experiences,” said Jet Jing, President of Tmall.