Fintech PR
‘Certified Picks for Europe’: Alibaba.com Reveals Top B2B Sourcing Trends on Its European Pavilion
LONDON, Nov. 29, 2023 /PRNewswire/ — Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, today unveils its 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. It 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 percent 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.[1]
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.
Roland Palmer, General Manager of UK, Benelux and Nordics, Alibaba Group, said: “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.”
About Alibaba.com
Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 200 countries and regions around the world. It is engaged in services covering various aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. Alibaba.com is part of Alibaba International Digital Commerce Group.
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