March Expo, Alibaba.com’s flagship sourcing event, saw US SME buyers leverage AI and digital sourcing to build new supplier partnerships and unlock growth opportunities
Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, has recorded a 27% year-on-year increase* in the number of orders placed by US SME buyers during this year’s March Expo.
March Expo is Alibaba.com’s flagship sourcing event. It connects millions of buyers with millions of suppliers from around the world, helping them discover the latest product opportunities and build new supplier partnerships while providing attractive promotional offers. A month-long virtual event, March Expo leverages technology, artificial intelligence (AI) and digital sourcing to make it easier for US SMEs to access growth opportunities via global trade.
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Alibaba.com’s US order growth was driven by growth across several key product categories across the country, particularly sports products, which saw an increase of nearly one third (30%) year-on-year. Notably, according to Alibaba.com data, orders for pickleball-related products increased by 197%, as demand for sporting goods in the US continues its growth trajectory and there is rising interest in new and emerging sports.
In addition, the strong order growth was driven by US SMEs switching to digital sourcing — buying goods directly from suppliers, rather than intermediaries. New data from Alibaba.com‡ revealed that nearly half of SMEs (44%) plan to change suppliers this year — notably via digital sourcing channels such as online B2B marketplaces. Meanwhile, just under two thirds (59%) of US SMEs surveyed said digital sourcing is more important now compared to this time last year, demonstrating an increased preference for direct sourcing.
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Kuo Zhang, President, Alibaba.com, said: “During this year’s March Expo, there has been a noticeable shift in favor of digital sourcing, with order volumes amongst US SMEs rising sharply year-on-year. This trend aligns with our recent research, which revealed that US SMEs increasingly recognize the benefits of online sourcing, from affordability to trend responsiveness and supplier reliability. In addition, the rise in sports-related product purchases indicates that SME buyers are increasingly tapping into consumer trends and sourcing ready-made products. As businesses embrace digital sourcing, they gain greater flexibility and access to a wider range of products to support their growth.”
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Source – PR Newswire
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