Alibaba.com has recorded a 39% year-on-year increase in the number of orders placed by UK SME buyers during this year’s March Expo, reflecting a growing shift towards digital sourcing among SMEs in the UK with a recent study by Alibaba.com highlighting that cost efficiency, supplier reliability, and access to innovative products are key drivers behind this trend.
March Expo is Alibaba.com’s flagship sourcing event, connecting millions of buyers with millions of suppliers from around the world, helping them discover the latest product opportunities and build new supplier partnerships while providing attractive promotional offers. A month-long virtual event, March Expo leverages technology and artificial intelligence tools to make it easier for UK SMEs to access growth opportunities via global trade. This year saw strong engagement from UK businesses, underlining the increasing importance of digital procurement in today’s market.
Alibaba.com’s UK order growth was driven by growth across several key product categories across Europe:
- Footwear & Accessories category more than doubled (+105%)
- Apparel & Accessories increased by nearly half (+48%)
- Orders for casual sports shoes and football attire increased by 173% and 124%
- Football attire increased 124%
These trends chime with Alibaba.com’s recent study, which found that nearly one third (31%) of UK SMEs are actively seeking new and trendy products to attract customers, as well as finding trusted suppliers (40%) and sustainable products (32%). This demonstrates a broader shift in procurement strategy among UK SMEs, who are increasingly looking to expand their product range and remain competitive in a rapidly evolving market.
Strong order growth was also driven by a significant transition towards direct supplier relationships. More than half of UK SMEs (57%) plan to change suppliers this year, with many opting for digital sourcing channels such as online B2B marketplaces. Furthermore, just under two thirds (59%) of UK SMEs surveyed said digital sourcing is more important now compared to this time last year, demonstrating an increased preference for direct sourcing.
During this year’s March Expo, there has been a noticeable shift in favour of digital sourcing, with order volumes amongst UK SMEs rising sharply year-on-year. This 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. In 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.
– Kuo Zhang, President, Alibaba.com
