Alibaba records rise in SME buyers at March Expo 2024
March Expo, which is Alibaba.com’s flagship online trade show, aims to connect buyers and sellers from around the world
Alibaba.com has recorded a positive rise in the number of active B2B buyers from the UK at this year’s March Expo 2024.
March Expo, which is Alibaba.com’s flagship online trade show, aims to connect buyers and sellers from around the world, helping them to discover new products, services and possibilities to grow their business.
As one of the largest buyer markets on Alibaba.com, the UK has continued to grow year-on-year as SMEs continue to navigate macroeconomic pressures, supply chain disruptions and supplier relationship challenges.
In the UK, the most popular category by active buyers was the skincare and tools – specifically face care – category, as the UK’s beauty and personal care market is forecasted to grow in the years ahead.
Elsewhere, by Gross Merchandise Value (GMV), the most popular product categories and products were socks and hosiery, nail supplies and jewellery, eyewear and watches and accessories.
According to Alibaba.com’s B2B Sentiment survey, which surveyed 500 UK SME decision makers, 51% of SMEs now source via online B2B marketplaces.
Jijay Shen, general manager Europe at Alibaba.com, said: “At March Expo, we have seen SMEs focus on building resilience and growth via digital sourcing, which is reflected in strong growth in the number of buyers from the UK.
“Online B2B marketplaces like Alibaba.com make cross-border sourcing easier and more seamless than ever before, enabling SMEs to explore opportunities to find new and exciting products, mitigate the risk of their supply chain, and drive margin at the click of a button.”
He added: “As we look 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.“
