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.

Cision View original content:https://www.prnewswire.com/news-releases/alibabacom-witnesses-notable-increase-in-us-based-sme-buyers-during-its-annual-march-expo-302096058.html

SOURCE Alibaba.com

Copyright 2024 PR Newswire

Alibaba (NYSE:BABA)
Historical Stock Chart
Von Apr 2024 bis Mai 2024 Click Here for more Alibaba Charts.
Alibaba (NYSE:BABA)
Historical Stock Chart
Von Mai 2023 bis Mai 2024 Click Here for more Alibaba Charts.