U.S. SMEs increasingly turning to online B2B
marketplaces to create their own distinctive products
NEW
YORK, March 21, 2024 /PRNewswire/ --
Alibaba.com, a leading platform for global business-to-business
(B2B) e-commerce, today announced it has recorded a 14% increase in
the number of active B2B buyers across the U.S. between March 1 and March 18 during this year's
March Expo. March Expo is Alibaba.com's annual online trade
fair that connects buyers and sellers from around the world to help
them discover new products, services and possibilities to grow
their business.
Along with the increase in active buyers in
2024, Alibaba.com has seen 10% year-over-year growth in the
average daily transaction volume for the U.S. market for the same
period (March 1-18) versus last year.
The year-over-year increase in active buyers and average daily
transaction volume comes as small and medium-sized enterprises
(SMEs) explore opportunities to source more efficiently and
cost-effectively while navigating macroeconomic uncertainty, supply
chain pressures and a consumer market that prioritizes delivery
speed.
During this year's March Expo, Alibaba.com also launched
new guaranteed services for buyers on its platform to help address
the needs of SMEs as they navigate market challenges. The services
include fixed per-unit prices, 72-hour promised dispatch of goods,
guaranteed delivery by the expected date and money back for order
issues.
"Alibaba.com remains committed to delivering efficient,
cost-effective solutions to small and medium-sized businesses for
all of their sourcing needs," said Rah
Mahtani, Head of Marketing for North America at Alibaba.com. "As business
owners look for competitive pricing, new products and ways to meet
increasing consumer demand for fast delivery, March Expo and our
new guaranteed services are just a few examples of how we can
deliver on our mission to help entrepreneurs grow their
businesses."
U.S. buyers turning to Alibaba.com during March Expo are
focusing their efforts on sourcing apparel and accessories,
consumer electronics, and home and gardening products. At the
product-specific level, the platform is witnessing a surge in
interest for items such as T-shirt printers, packaging stickers,
custom logo hats and sweaters. This trend indicates an enthusiastic
move by U.S. SMEs to create and cultivate their own distinctive
products and brands.
The strong demand on the Alibaba.com platform in the U.S.
reflects a broader shift toward online sourcing for U.S.-based
SMEs. A recent survey conducted by Alibaba.com, which included
input from over 500 U.S. business owners and decision-makers,
revealed that 66% of respondents are planning to boost their
engagement in online cross-border purchasing. The survey
highlighted competitive pricing and an extensive selection of
products as the primary motivations for businesses shifting their
focus towards online sourcing, cited by 39% and 32% of the
participants, respectively.
With March Expo set to run until March
31, there is still time for buyers to capitalize on the
variety of discounts, deals and guaranteed services
on Alibaba.com.
About the Survey:
In December of 2023, Alibaba.com surveyed 502 U.S. businesses
through an independent agency. These businesses ranged in size with
one employee to those with 500 or more.
For more information on Alibaba.com and March Expo deals
and offers, please visit https://www.alibaba.com/. To schedule a
press interview, please contact alibaba@finnpartners.com.
About Alibaba.com
Launched in 1999, Alibaba.com
is a leading platform for global business-to-business (B2B)
e-commerce that serves buyers and suppliers from over 200 countries
and regions around the world. It is engaged in services covering
all aspects of commerce, including providing businesses with tools
that help them reach a global audience for their products and
helping buyers discover products, find suppliers and place orders
online fast and efficiently. Alibaba.com is part of Alibaba
International Digital Commerce Group.
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SOURCE Alibaba.com