Alibaba.com have revealed their top B2B buyer trends on ‘Certified Picks for Europe’. Launched last month, ‘Certified Picks for Europe’ is part of Alibaba.com’s European Pavilion, a dedicated resource for EU/UK-certified products, and products sourced from verified suppliers.
The European Pavilion showcases 24,000 verified suppliers with EU/UK certifications, and 8 million products across 33 product categories, from non-consumer categories such as machinery and lighting equipment to apparel and jewellery.
The GMV per product for those with an EU/UK certificate is 80% higher than for other products, reflecting a shift amongst buyers in favour of higher-quality, certified products and customer retention. According to NPSx by Bain & Company, great product quality is the most important factor driver of customer loyalty, ahead of value.
At a product level, the UK has witnessed significant growth in categories including watches and jewellery, as brands stock up on consumer goods in the lead-up to key purchasing moments in the retail calendar. Interest from business buyers for Industry Machinery has increased by 15%, and the interest in Watches & Jewellery has also increased significantly.
In addition, helping UK brands tap into the market for festive items, more than 700,000 Christmas articles – all with EU/UK-product certifications – are available on Alibaba.com.
The hottest Christmas products are those that create a ‘Holiday atmosphere’ – from decorative lamps, packaging bags and boxes; ‘cosy Home Comforts’ – including Christmas trees and ornaments; and Christmas fashion. This offering will change to Valentine Inventory with the “Stock up for Valentine’s Day” feature in December, bringing further popular selections with a 90-day lowest price guarantee.
UK SMEs demand the highest quality products. It’s one of the most important factors in a consumer’s purchasing decision, and one of the primary reasons they remain loyal. As a result, we have seen strong growth for Alibaba.com’s ‘Certified Picks for Europe’ over the last month – reflecting an appetite from UK SMEs – particularly those offering industrial machinery, watches and jewellery – to meet the product quality expectations of their customers. In the race to capture a share of wallet in retail’s most important season, we believe product quality will be what sets brands apart and helps them achieve long-term, sustainable growth opportunities.
– Roland Palmer, General Manager of UK, Benelux and Nordics, Alibaba Group
