10:31:04 AM | 12/11/2020
Alibaba.com, one of the leading platforms for global business-to-business (B2B) trade, has revamped its supplier rating system to encourage global suppliers to pursue expanded benefits and better connect with buyers worldwide.
This is among the platform’s latest initiatives to encourage export-oriented businesses to survive and thrive via digitalization, further to its roll-out of Project Sprout Up earlier this year which helps small and medium-sized enterprises (SMEs) in various markets including Vietnam go online and go global in the wake of the global pandemic.
Suppliers on Alibaba.com have previously been ranked by their overall e-commerce capabilities based on three major aspects: product capability, service capability, and marketing capability. Suppliers with a Star Rating of 1 to 5 stars can enjoy improved search rankings and the better performing suppliers can also receive more promotional opportunities. Such benefits do not apply to suppliers that have yet to meet the Star Rating criteria.
Under the new Star Rating framework, more tangible benefits will be provided to suppliers with a Star Rating of 1 to 5 stars, including the display of their Star Rating to buyers on Alibaba.com in order to gain their trust, as well as eligibility for additional promotional opportunities through online tradeshows, marketing pavilions and other events on the platform. Higher rated suppliers will continue to receive more buyer inquiries, a key benefit under the previous Star Rating system.
“The global pandemic has disrupted all sectors but it has also brought buyers and suppliers around the world closer to each other by accelerating business digitalization and fostering more online interactions. We hope our new approach of rating suppliers with the upgraded Star Rating system will encourage all suppliers on Alibaba.com – whether they are already adept at digital trade or not – to continue pursuing excellence in the products they sell and the service they offer online by providing even more tangible rewards to do so,” said Mr. Zhang Kuo, General Manager of Alibaba.com.
The revamped Star Rating system also aims to help more suppliers outside of China to get their profiles rated on Alibaba.com and compete with other brands worldwide on a more equal footing. Suppliers are provided with certain resources such as self-study training programs and access to various insight for improving their online presence, from providing better customer service to understanding how to effectively position their products online. Alibaba.com has also been introducing emerging sales tactics, such as livestreaming and posting short videos, to allow suppliers on its platform to attract even more new buyers.
Mr. Phan Duc, Export Manager from VIHABA Trade and Import Export company one of the 2020 Alibaba.com New Power Top 10 Supplier shared: “To continue growing, it was essential for us to constantly find new ways to expand our distribution channels. The importance of online channels became clearer, especially after experiencing the recent disruption through traditional offline channels. By being active on Alibaba.com we receive more than 200 inquiries every month and our response rate is among the highest on the platform. We are confident we will continue to achieve growth and expand to newer markets on Alibaba.com”.
These new efforts are on top of the efforts by Alibaba.com over the past year in helping buyers and suppliers navigate challenges posed by the global pandemic and participate in a digitalized international trade reality. The platform has already registered a 54% year-on-year increase in the number of newly joined suppliers on Alibaba.com from April to September this year, with an 84% year-on-year growth in the number of active buyers during the same period.
Nam Pham (Vietnam Business Forum)
Vietnamese
