Alibaba.com, the leading global B2B e-commerce platform, has announced a remarkable 27% year-on-year increase in orders from US small and medium-sized enterprises (SMEs) during its flagship event, the March Expo. This virtual, month-long sourcing event connects buyers to millions of suppliers worldwide, helping them discover new products and create lasting partnerships.
Digital Sourcing Drives Success
The significant growth in US orders was largely fueled by the increasing adoption of digital sourcing. With the help of advanced technology and artificial intelligence (AI), US SMEs are making the most of direct sourcing opportunities. The shift from traditional intermediary sourcing to direct purchasing has become a notable trend, with nearly half of US SMEs (44%) planning to change suppliers this year, adopting B2B online marketplaces as their preferred channel.
Sports Products Leading the Charge
Among the numerous categories showing growth, sports products emerged as a standout. The demand for sporting goods surged, with a 30% increase in orders year-on-year. Particularly impressive was the surge in pickleball-related products, which skyrocketed by 197%. This rise highlights the growing interest in emerging sports in the US and the increasing role of digital platforms in driving these trends.
Shifting Preferences and Increased Flexibility
Kuo Zhang, President of Alibaba.com, highlighted the shift towards digital sourcing, highlighting that it offers SMEs greater flexibility, affordability, and the ability to stay responsive to market trends. As businesses turn to online platforms for sourcing, they gain access to a broader range of products, empowering them to meet evolving consumer demands.
Let us know your thoughts on Alibaba’s record growth during the March Expo and how you’re adopting digital sourcing in your business.
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