Global SMEs show resilience and optimism as Alibaba.com sees near 70% rise in super September orders

Global small and medium-sized businesses (SMBs) are increasingly optimistic about their future prospects, according to the new Global SMB Confidence Index from Alibaba.com, the leading B2B e-commerce platform.

The study, conducted with SME decision-makers in France, Germany, the UK and the US, highlights a strong sense of resilience as SMEs navigate a challenging business landscape.

The report found that 69% of SME leaders feel more optimistic about their growth prospects than they did six months ago. German SMEs lead the way, with 74% of respondents reporting an improved outlook, followed by 65% ​​of French SMEs. This upbeat sentiment is largely due to innovation plans, with nearly half (45%) of global SMEs planning to launch one or two new product lines in the coming year.

However, this optimism is tempered by significant challenges. Inflationary pressures are the top concern for 38% of SMEs, followed by difficulties in marketing and customer acquisition (31%). Supply chain disruptions and inventory availability also remain critical issues, with 25% of SMEs citing these as major obstacles for the year ahead.

To address these challenges, SMBs globally are increasingly turning to online sourcing solutions, with 52% working with online B2B marketplaces like Alibaba.com to source new and innovative products. In addition, digital tools play a critical role in SMB strategies: 56% plan to use social media, 50% will leverage their corporate website, and 43% are looking to digital advertising. Emerging technologies like AI are also on the radar, with 26% of SMBs exploring AI tools, including image search, as a significant growth opportunity.

Commenting on the findings, Kuo Zhang, President of Alibaba.com, said: “Our research highlights the strong growth in optimism among SMEs around the world as they embrace digital supply channels and look to enhance their product offerings. SMEs in key global markets are uniting through the opportunities presented by the integration of AI, and with more than half of SMEs globally planning to use social media to stay competitive, it is clear that ambitious businesses are increasingly turning to digital tools and platforms.”

The release of the Global SME Confidence Index coincides with Alibaba.com’s Super September, a month-long online trade show aimed at helping businesses source new products in time for the holiday season. This year’s event has already seen a 69% increase in orders in the first week compared to the same period last year. Super September connects more than 48 million buyers with 200,000 suppliers around the world, providing easy access to new products and innovative solutions through live streaming and virtual showrooms.

Super September runs until September 30, 2024, providing a dynamic platform for business buyers to discover new products and suppliers, and enhance their ability to grow and compete in an increasingly digital marketplace.