UK SMEs increasingly turning to online B2B
marketplaces to overcome procurement challenges in the face of
macroeconomic pressures and supply chain disruption
LONDON, March 21, 2024 /PRNewswire/ -- Alibaba.com, a
leading platform for global business-to-business (B2B) e-commerce,
has recorded a positive rise in the number of active B2B
buyers from the UK at this year's March Expo 2024.
March Expo is Alibaba.com's flagship online trade show, which
aims to connect buyers and sellers from around the world, helping
them to discover new products, services and possibilities to grow
their business.
In the UK, the most popular category by active buyers was the
Skincare & Tools – specifically face care – category. With the
UK's beauty and personal care market forecast to grow in the years
ahead[1], this trend reflects a shift from SMEs looking
to capitalise on rising consumer demand. Elsewhere, by Gross
Merchandise Value (GMV), the most popular product categories and
products were socks and hosiery, nail supplies and Jewellery,
Eyewear and Watches & Accessories.
Strong demand from UK SMEs reflects a broader shift towards
digital sourcing channels. According to Alibaba.com's B2B Sentiment
Survey, surveying 500 UK SME decision makers, 51% of SMEs now
source via online B2B marketplaces. With a virtually limitless
product catalogue, Alibaba.com offers UK buyers unique
opportunities to source new products from suppliers around the
globe.
With March Expo set to run until 31 March, there's still time
for buyers to find discounted deals. In addition, 'Alibaba
Guaranteed' will continue to give UK SMEs access to fixed per-unit
prices, lower minimum order quantity, on-time delivery, and
hassle-free refunds. This offering cuts out the need to negotiate
with suppliers and monitor the status of a shipment or financial
compensation for an order.
Jijay Shen, General Manager, Europe, Alibaba.com said: "At March
Expo, we have seen SMEs focus on building resilience and growth via
digital sourcing, which is reflected increased number of buyers
from the UK. Online B2B marketplaces like Alibaba.com make
cross-border sourcing easier than ever before, enabling SMEs to
explore opportunities to find new products, mitigate the risk of
their supply chain, and drive margin at the click of a button.
Looking ahead to the rest of the year, which is packed full of
exciting calendar moments, online B2B marketplaces will be a
powerful tool in helping SMEs digitise and capitalise on growth
opportunities."
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 various 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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[1] https://store.mintel.com/report/uk-beauty-and-personal-care-retailing-market-report
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