HANGZHOU, China, June 28, 2023 /PRNewswire/ — Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, and the International Trade Centre (ITC) have co-hosted a webinar titled “The Future of B2B E-commerce” in conjunction with the World MSME Day, providing valuable insights into the latest trends and tools available to Micro, Small and Medium Enterprises (MSMEs) worldwide in the digital economy.
During the webinar, ITC emphasized that e-commerce is progressing at a rapid pace and becoming an increasingly crucial channel for businesses to surpass traditional trade methods. Small businesses can reap significant benefits from e-commerce if they transform their organizational structure, invest in digital skills, and establish a strong online presence. ITC advised businesses to prioritize B2B e-commerce, select appropriate sales channels, and invest in digital skills to engage in international e-commerce successfully.
Alibaba.com concurred on the value of digital transformation for MSMEs during the webinar, highlighting its benefits of reducing business risks, expanding customer reach, improving productivity and cost management, and boosting company profits. Alibaba.com also pointed out the growing popularity of B2B livestreaming as a viable digital marketing means for MSMEs, which has been gaining traction on its platform and accumulated more than 13 million viewers by 2022, a year-on-year increase of 198%.
“We are proud to celebrate World MSME Day 2023 and the important role of MSMEs in the global economy with ITC. Alibaba.com is committed to helping MSMEs succeed by providing them with the tools and resources needed to thrive in the digital age. We believe that with our support, MSMEs can break barriers and build bridges towards a more prosperous future,” remarked Andrew Zheng, Head of Global Supplier Business at Alibaba.com.
“MSMEs are the backbone of most economies worldwide, and Alibaba.com’s efforts to help them connect and trade globally are significant. The digitalization of trade is a game-changer and can help MSMEs tap into new markets and grow their businesses. Alibaba.com is a strong partner in this journey,” said Annabel Sykes, E-commerce and SME Digital Transformation Adviser at the International Trade Centre (ITC).
Data from the Asia-Pacific Economic Cooperation (APEC) reveals that small and medium-sized enterprises (SMEs) account for over 97% of all businesses and employ over half of the workforce across APEC economies. However, they only account for 35% or less of direct exports.
Alibaba.com is committed to narrowing the gap between small businesses and larger players by encouraging greater participation in global digital trade among MSMEs. It supports its network of over 40 million small-business buyers and sellers with digital tools and training designed specifically for B2B trade, such as communication and engagement tools, translation assistance, AI-powered buyer-supplier matching, platform analytics and digital commerce training. This has made it possible for a substantial portion of these MSMEs to evolve into micro-global enterprises.
“Technology and innovative tools have tremendous potential to enhance MSMEs’ operations in the field of B2B e-commerce. With the vast possibilities of digital trade, MSMEs now have more opportunities than ever to discover, engage with, and convert potential buyers regardless of their physical location,” added Zhang.
For a replay of the Alibaba.com-ITC webinar, please visit: https://tinyurl.com/595cfp3y
Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 190 countries and regions around the world. It is engaged in services covering all 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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