Alibaba.com, the leading global business-to-business (B2B) e-commerce platform, and the International Trade Centre (ITC) co-hosted a webinar titled “The Future of B2B E-Commerce” in conjunction with World Micro, Small and Medium Enterprises (MSME) Day, providing valuable insights and experiences on the latest trends and tools for Micro, Small and Medium Enterprises (MSMEs) around the world in the digital economy .
During the webinar, ITC emphasized that e-commerce is growing rapidly and is increasingly becoming an important channel for businesses to replace 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.
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 advises businesses to prioritize B2B e-commerce, select the right sales channels and invest in digital skills to successfully engage in international e-commerce.
During the webinar, Alibaba.com concurred on the importance of digital transformation for MSMEs, highlighting the benefits of digital transformation in reducing business risks, expanding customer reach, improving productivity and cost management, and increasing company profits.
Alibaba.com also pointed to the growing popularity of B2B livestreaming, an effective digital marketing tool for MSMEs. The feature has been gaining traction on the Alibaba.com platform with a total viewership of over 13 million in 2022, up 198% year-on-year.
“We, together with ITC, are proud to celebrate World MSME Day 2023, celebrating the vital role that MSMEs play in the global economy. Alibaba.com is committed to helping Micro, Small, and Medium Enterprises (MSMEs) achieve success by providing them with the tools and resources they need to thrive in the digital age. We believe that with the support of Alibaba.com, MSMEs can break down barriers and build bridges to a more prosperous future,” said Andrew Zheng, Head of Global Supplier Business at Alibaba.com.
“MSMEs are the backbone of most economies around the world and Alibaba.com’s efforts to help them connect and trade globally are critical,” said Annabel Sykes, Advisor for Digital Transformation for SMEs at the International Trade Centre (ITC). “The digitization of trade is a game-changer and can help MSMEs access new markets and grow their businesses. Alibaba.com is a key partner in this journey.”
In fiscal 2023, Alibaba.com brought together over 40 million MSMEs worldwide through its B2B e-commerce platform. The platform supports a large network of buyers and sellers through digital tools and training services specifically designed for B2B commerce, such as communication and engagement tools, translation, AI-powered buyer-supplier matching, platform analytics, and digital commerce training. These supports have enabled a significant portion of MSMEs to grow into global microenterprises.
With 785,000 Micro, Small and Medium Enterprises in Vietnam, accounting for more than 98% of the total number of enterprises and contributing about 50% of the country's gross domestic product (GDP), it is clear that the success of these enterprises is an indispensable part of the overall success of the entire economy.
By connecting Vietnamese small and medium-sized enterprises with a network of buyers and sellers around the world, Alibaba.com has helped these businesses expand their markets and find new customers overseas.
Hanh Sanh, a Vietnamese electric fan manufacturer, has been leveraging the Alibaba.com platform for four years to expand its business internationally. During this time, Alibaba.com has rapidly expanded its reach from its local market to five overseas markets. “Through Alibaba.com, we are able to bring our products to the world and grow our company internationally,” explains Steven To, Deputy Managing Director of Hanh Sanh. “We strongly believe in the importance of cross-border e-commerce in the future of trading. As a supplier, having e-commerce knowledge and skills is crucial to the success of the organization.”
Pham Ba Tien is another Vietnamese MSME that has benefited from using the Alibaba.com platform. The business manufactures and distributes hair products and started its business in 2015.
In an effort to increase operational efficiency and revenue, the company sought to vertically integrate within its industry, starting with a distribution arm that would sell hair products to domestic and international businesses. To solve this problem, they turned to Alibaba.com.
“When we started our business in 2015, we focused solely on manufacturing. But over time, we realized that the company could also benefit from selling directly to corporate buyers, rather than trading companies. Alibaba.com helped us secure our first export order in 2016, and since then, our revenue has nearly quadrupled,” said Nguyen Thi Dung, Sales Director at Pham Ba Tien Household Business.
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