Alibaba.com Witnesses Notable Increase Of 14% In U.S.-Based SME Buyers Between March 1 And March 18 During This Year's March Expo
Portfolio Pulse from Benzinga Newsdesk
Alibaba.com announced a 14% increase in active U.S. B2B buyers and a 10% growth in average daily transaction volume for the U.S. market during its March Expo from March 1-18, 2024. The platform introduced new guaranteed services for SMEs, reflecting a shift towards online sourcing amid macroeconomic uncertainty and supply chain pressures. A survey revealed 66% of U.S. businesses plan to increase online cross-border purchasing, with competitive pricing and product selection as key motivators.
March 21, 2024 | 2:10 pm
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Alibaba.com's March Expo 2024 reports a 14% increase in U.S. B2B buyers and a 10% growth in daily transaction volume, alongside launching new guaranteed services for SMEs.
The reported increase in active buyers and transaction volume during the March Expo, coupled with the introduction of new services for SMEs, indicates a positive trend in Alibaba.com's business performance in the U.S. market. This growth, reflecting a broader shift towards online sourcing among U.S. SMEs, is likely to positively impact Alibaba's stock in the short term due to increased usage of its platform and potential revenue growth.
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