NEW
YORK, Feb. 29, 2024 /PRNewswire/ -- Alibaba.com,
a leading platform for global business-to-business (B2B) e-commerce
and part of Alibaba International Digital Commerce Group, today
released new insights on the sourcing and supply chain
challenges and opportunities facing U.S. businesses, revealed the
highlights of its annual online trade fair March Expo, and rolled
out more guaranteed services.
This year's edition of Alibaba.com's 24/7 month-long digital
trade show starts on March 1, 2024,
and will feature over a million new products at preferential
prices.
Rising Optimism Fuels Online Sourcing Trend Among U.S.
SMEs
A recent survey conducted by Alibaba.com reveals a
growing trend among small and medium-sized enterprises (SMEs) in
the United States towards online
global sourcing for the year 2024, against the backdrop of a
turbulent market.
The survey highlights a strong sense of optimism among U.S.
business owners and supply chain professionals, with an
overwhelming 98% of the SMEs surveyed displaying some level of
optimism about their business prospects in 2024, and 41% declaring
they are very optimistic.
A shift in sourcing strategies is notable, as two-thirds (66%)
of SMEs indicated they plan to increase their reliance on online
global sourcing in 2024. Additionally, a majority (58%) of these
businesses intend to source a greater variety of new products over
the next two years to boost revenue.
The survey also sheds light on the reasons behind the growing
preference for online sourcing. A notable 39% of businesses cited
the competitive pricing available online as a driving force for
focusing their sourcing efforts on the internet, while 32% pointed
to the expansive array of product options.
However, when engaging in cross-border sourcing, delivery time,
logistics costs and worries of not receiving products emerged as
the top three main concerns, with up to 22% of respondents ranking
them as their top challenges.
More Guarantees for this March Expo
In response to
the above concerns, the 2024 edition of March Expo will see the
platform provide more "guaranteed services" to help buyers source
more effectively and with confidence.
"Amidst the challenges confronting SMEs today, the right
technology and support can equip entrepreneurs with the capability
to overcome obstacles and achieve success," said Rah Mahtani, Head of Marketing for North America at Alibaba.com. "That's why we
are expanding our guaranteed services to provide entrepreneurs with
peace of mind when making purchasing decisions crucial to their
growth."
These 'guaranteed services' will enable U.S. SMEs to source
even more efficiently, allowing them to order directly from
Alibaba.com without having to negotiate with suppliers. This new
approach to online sourcing offers B2B buyers guaranteed fixed
prices, on-time delivery and hassle-free refunds. Key benefits will
include:
- Guaranteed fixed prices, with shipping fees included
- Promised dispatch of goods within 72 hours
- Guaranteed delivery by the expected date
- Money back for order issues, plus free local returns for
defects
This March Expo also officially introduced the Top 100 Wow list,
selecting products available on Alibaba.com with a high profit
potential to help SMEs reduce time costs and increase efficiency.
For new buyers who have not made any purchases on Alibaba.com in
the last year, the month-long online trade fair offers up to
$60 off on their initial orders of
eligible products.
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 the report, 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