Chinese group Alibaba has launched three new services for US-based small and medium-sized businesses (SMBs), which it says can says can help them during the COVID-19 pandemic. The new measures include B2B services for payment flexibility, cross-border freight solutions and digital trade-show opportunities.
Alibaba.com Payment Terms is positioned as a digital trade finance solution and a way to provide SMBs with control over their cash flow . Alibaba says it is the first trade financing solution embedded directly into a cross-border B2B e-commerce marketplace. The service allows qualified buyers to order goods and pay for them up to 60 days after they are shipped. Alibaba notes that the majority of cross-border trade between small businesses required full payment upfront.
Alibaba.com Freight aims to help companies simplify their bulk shipments to compare, book, manage and track ocean and air freight in real time online. Powered by digital freight marketplace Freightos, Alibaba says the new service modernizes the analog and slow process for arranging cross-border logistics.
Lastly, Alibaba.com Online Trade Shows USA offers a series of category-specific, livestreaming events aimed at connecting US manufacturers and wholesalers with business buyers. Alibaba launched the digital platform in response to the COVID-19 pandemic’s impact on trade shows.
Buyers and sellers can meet and transact at the virtual shows in real-time over a pre-determined period of days. These events are part of Alibaba.com’s global online trade show initiative of some 20 shows in the next 120 days to bring worldwide SMBs together over virtual show floors.
The Alibaba.com Online Trade Shows USA events feature keynotes from industry leaders and US suppliers promoting their products to an audience of business buyers. US-based manufacturers and wholesalers are able to showcase their products, while buyers can interact with and ask suppliers questions, schedule one-on-one sessions and place orders through the platform. The first event will take place with the Supplements & Nutrition category and will run from July 7-10. I
Additional shows will take place in the coming months for a variety of categories, including beauty & personal care.