Business-to-business platform Alibaba.com has recorded a leap in year-on-year orders placed by UK small and medium enterprises (SMEs) during its annual expo.
The group said this reflects a âgrowing shift towards digital sourcingâ amongst SMEs based in the UK.
A recent study by Alibaba.com also reveals that cost efficiency, supplier reliability and access to innovative products are key drivers behind this trend.
The March expo is the groupâs flagship sourcing event and connects millions of buyers with suppliers and leverages technology and AI tools for UK SMEs to access growth opportunities through global trade.
The UK order surge was driven by growth across product categories in Europe as orders of footwear and accessories rose 105%, apparel and accessories grew 48% and casual sports shoes soared 173% compared to the same expo last year.
These trends align with the groupâs recent study, which showed that 31% of UK SMEs are seeking new and trendy products, 40% are finding trusted suppliers and 32% are looking for sustainable products.
Alibaba.com president Kuo Zhang said: âDuring this yearâs March Expo, there has been a noticeable shift in favour of digital sourcing, with order volumes amongst UK SMEs rising sharply year-on-year.
âThis trend aligns with our recent research, which revealed that UK SMEs increasingly recognise the benefits of online sourcing, from affordability to trend responsiveness and supplier reliability.
âIn addition, the rise in sports-related product purchases indicates that SME buyers are increasingly tapping into consumer trends and sourcing ready-made products. As businesses embrace digital sourcing, they gain greater flexibility and access to a wider range of products to support their growth.â
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