The platform's biggest in-person event
in over 20 years visualizes and inspires the future of B2B sourcing
alongside reveal of small-business survey results
NEW
YORK, Sept. 7, 2023 /PRNewswire/ -- Alibaba.com,
a leading platform for global business-to-business (B2B) e-commerce
and part of Alibaba International Digital Commerce Group, today
unveiled a suite of new products and enhancements to existing
sourcing tools during its first Co-Create conference. The event,
occurring September 7-8, 2023 in
Las Vegas, NV, includes
demonstrations of new innovative products, interactive learning
opportunities for entrepreneurs and over 50 sessions featuring
leading industry experts.
As a one-stop platform for B2B sourcing, Alibaba.com is
committed to streamlining the buying process for entrepreneurs to
create their dream businesses as efficiently as possible. All new
products launched during the Co-Create event are intended to help
entrepreneurs level up their sourcing and supply chain operations
in the increasingly competitive small-business arena.
"We have entered a transformative era of B2B sourcing and
business innovation, and two keywords we use to define the new
generation of B2B sourcing are efficient and
inspirational," said Stephen
Kuo, President of Alibaba.com North America. "We are making the sourcing
journey more intuitive and visualizable by helping enterprises of
all sizes better utilize today's leading e-commerce
technologies."
Product Launches and Platform Enhancements
The new features, products and upgrades to existing Alibaba.com
services launching during Co-Create support small-business owners
to more freely find inspiration and create new products to enhance
and grow their enterprises. They are designed to make the product
creation process efficient, fast and barrier-free. New features and
upgrades include:
- Smart Assistant tool, which acts as an intuitive personal guide
to sourcing that helps small-business owners discover new
opportunities, stay up-to-date on trends, seamlessly track orders
and more in a single, efficient touchpoint
- Upgraded Image Search to allow buyers to search for products by
image and text simultaneously, with additional image generation
capabilities helping to streamline complex sourcing
requirements
- Smart enhancements to Request for Quotation (RFQ), which power
predictive sentence completion and image generation that help
small-business owners connect quickly and efficiently with
qualified suppliers, allowing them to find the right partners to
keep their product competitive
- Real-time translation in 17 languages for live video chats with
suppliers, designed to enhance and streamline the process of
visually verifying potential partners' capabilities and
facilities
- Alibaba.com Logistics Marketplace, which offers 24/7 live
customer service and enables tracking of B2B shipments, allowing
for better supply chain management and timelier product
delivery
Addressing the Needs of Small-Business Owners
Just as small businesses must keep a finger on the pulse of
industry trends, Alibaba.com is keen on illuminating the evolving
small-business owner sentiment in the
United States and equipping small businesses to respond to
challenges in the market. New data from a survey commissioned by
Alibaba.com and conducted by The Harris Poll reveals insights on
small-business concerns regarding the supply chain, macro-economic
factors and business operations, including:
- Small businesses must optimize their supply chain to stay
competitive: Supply chain and sourcing are on the minds of many
business owners. Nearly half (46%) have challenges with their
supply chain and/or sourcing systems and nearly four in ten (38%)
think the global supply chain outlook will have a negative impact
on their business. The supply chain and inventory management issue
most concerning for small-business owners and leaders is the rising
cost of goods (67%).
- Streamlined payment and logistics offerings are key when
sourcing products: The digital sourcing tool that would best
meet the needs of small-business owners and leaders creating a new
product or product line include safe and easy payments (34%) and
on-time delivery & package tracking (26%). Other mentions
include money-back policy & easy return (17%), and after-sale
protection (11%).
- Entrepreneurs must align with the right partners when
creating new products: More than eight in ten (83%) business
owners are confident in their ability to create new products, but
they face challenges in doing so. The biggest challenges preventing
small-business owners and leaders from creating new products,
building brands or doing brand upgrades include finding the right
supplier for the product (31%); research, development and design of
new products (28%); and financing orders of the product (27%).
"At Alibaba.com, we are not just a link in the supply chain – we
are dreamers and creators as well. We're reinventing ourselves to
become a link in the 'creation chain' for entrepreneurs," added
Kuo. "Co-Create is not just an event; it's a way of thinking. It's
about working together because we can achieve more together than
alone."
Alibaba.com aims to address the concerns of business owners and
mitigate their risk with the new products and tool offerings
launching at Co-Create. In advancing sourcing solutions, product
creation tools, communication options with suppliers and more,
Alibaba.com aims to take entrepreneurs to the next level.
For more information on Co-Create, please visit
https://cocreate.alibaba.com/. To schedule a press interview,
please contact alibaba@finnpartners.com.
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 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.
About the Research
The research was conducted online in the United States by The Harris Poll on behalf
of Alibaba.com among 301 small business owners and leaders.
Eligible small business owners and leaders were defined as U.S.
adults ages 21+ who are employed FT, PT, or self-employed, have a
title of owner/president/C-suite executive at their company, the
company employs less than 250 employees, and has annual revenue
less than $10 million. The survey was
conducted August 11-17, 2023. Results
were not weighted and are only representative of those who
completed the survey.
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SOURCE Alibaba.com