Alibaba.com Launches “B2B Tuesday” to Spotlight U.S. Business-to-Business SMBs
Alibaba.com marks B2B Tuesday launch with new survey showing 62% of U.S. SMBs optimistic on economy
What is “B2B Tuesday”?
B2B Tuesday will be celebrated every Tuesday by Alibaba.com and other like-minded organizations. Together, the B2B Tuesday community promotes the successes of U.S. B2B SMBs, share insights and resources to help them grow and make it easier for U.S. SMBs to access the
Highlights from the Alibaba.com
Alibaba.com commissioned an independent research company to conduct the Alibaba.com
U.S. B2B SMBs are optimistic:
- A strong majority (62%) of B2B businesses are optimistic about the economy, saying the economy is gaining momentum or on its way up with a bright future – while only 4% believed the economy is at risk of a downturn.
- 46% of respondents are expecting their online B2B businesses to increase in volume – with 27% of those expecting an increase of 25% or more. 72% anticipate increased revenue and 60% expect increased procurement budgets.
- 57% hired employees to support their online B2B buying and selling, and, among the 46% of companies that expect online growth over the next year, eight in ten of companies surveyed plan to hire at least one employee as a result of their online activity.
U.S. B2B SMBs are digitizing:
- 54% of companies recognize the impact ecommerce platforms like Alibaba.com can play in their businesses, but the bulk of their online business activity is still done by email and website order forms.
- 90% of U.S. SMBs surveyed reported doing at least some of their B2B selling or sourcing online.
- The top benefits sellers cite from selling online are: reaching more customers (59%), finding customers more quickly (47%) and increasing profit margins (44%).
- Buyers cite the top benefits for online sourcing as finding suppliers more quickly (53%), reducing the need for travel (44%), greater purchasing power (38%) and higher profit margins (38%).
U.S. B2B SMBs are globalizing:
- The majority (59%) of B2B companies surveyed by Alibaba.com report conducting some cross border trade – a far greater rate than the 1% of U.S. businesses that are cross border1.
- Cross border business makes up an average of 17% of the business of B2B companies surveyed.
- Surveyed businesses cited the following key benefits of cross border trade: more customers and more choice in suppliers (50%); revenue growth (47%); and increased profit margins (41%).
The top three regions generating the most interest among U.S. B2B businesses surveyed include the neighboring North American countries of
Canadaand Mexico(45%), Europe(21%) and China, Japanand Korea(17%).
“Strong SMB confidence among American business owners and entrepreneurs, plus the growth from digitizing of their business and doing business globally means the future is bright for U.S. SMBs,” said
Additional data, analysis and insights from the first Alibaba.com
Calling All U.S. SMBs
The first B2B Tuesday will be celebrated with an “Alibaba.com Build Up” event, featuring a turbocharged line-up of SMBs and industry experts held at Alibaba.com’s NYC office in the
“B2B Tuesday marks a major acceleration of our momentum since opening our platform to U.S. sellers,” said
Alibaba.com is actively seeking and will announce new members of the B2B Tuesday community on coming Tuesdays, rallying this community around the #B2BTuesday hashtag and the B2B Tuesday website. Additional information on upcoming events in other cities can be found at Alibaba.com/buildup.
1 Based on the 2016
Alibaba.com commissioned leading B2B research firm, Lucid, to conduct the first-ever Alibaba.com
The first business unit of
+1 917 528 1992