US SMEs are increasingly turning to online B2B marketplaces to create their own distinctive products, says Alibaba.com
The leading platform for global business-to-business (B2B) e-commerce, has seen a 14% increase in the number of active B2B buyers across the US between March 1 and March 18 during this year’s March Expo – 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 US 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, 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.”
US 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 – indicating an enthusiastic move by US SMEs to create and cultivate their own distinctive products and brands.
The strong demand on the Alibaba.com platform in the US reflects a broader shift toward online sourcing for US-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.