Small Businesses Can Survive the Pandemic by Promoting E-commerce and digitization

Alibaba.com – one of the leading B2B e-commerce platforms, has released a survey about how suppliers worldwide find their way through the pandemic.

Impact of the pandemic on small and medium businesses

The survey has been conducted with more than 1,000 B2B suppliers worldwide.

Some of the questions the survey asked include: As a business owner in recent years, how do you evaluate the pandemic affecting your business? What have you done to keep your business running during the pandemic? After the pandemic, do you believe that Alibaba.com is still valuable for small and medium enterprises?

More than 55% of respondents saw their revenue decline, and 20% reported closing completely. However, nearly 15% of respondents stated that their business operations remained unchanged, and 10% saw their business increase rather than decrease.

Documenting how businesses weathered this global crisis will better equip companies to navigate their way through future problems of similar size. A few methods have been adopted by enterprises "surviving" the pandemic: E-commerce and digitization, Expanding sales channels, Controlling finances, Investing in R&B, Receiving aid from the local government. The importance of e-commerce during and after the pandemic.

The importance of e-commerce during and after the pandemic

As a global B2B e-commerce platform, Alibaba.com has served as a valuable resource for many businesses during the pandemic. This platform has helped businesses move their operations online so they can stay on during difficult times. Alibaba.com is not only an e-commerce marketplace, but also facilitates commerce significantly improved accessibility to corporate customers around the world.

Alibaba.com has organized virtual trade shows and digital sales events to help businesses to build new business relationships.

In addition, the e-commerce platform provides intelligent communication tools that automatically translate conversations, help break down language barriers and connect many potential trading partners. In addition, businesses have access to a vast source of data from the platform's activities, effectively supporting businesses in identifying target customers and developing new products that fit market needs.

These tools and many more from Alibaba.com have helped businesses enter the digital world and survive the pandemic.

Mr. Uong Thanh Dinh - Co-founder of Kaafly Hair, shared: "We had the first order in 1 week and six orders in 1 month running ads with Alibaba.com. The profit margin on these orders is 70%; we are very optimistic about our business at Alibaba.com."

About 55% of customers surveyed said that an e-commerce market like Alibaba.com is still of great value to businesses after the pandemic, and 32% of customers said that it is the most valuable market for their activities. That means a total of 87% of respondents gave an upbeat assessment of Alibaba.com's role in their business in the post-pandemic era.

Ms. Nguyen Thi Dung – Sales Manager Pham Ba Tien said: "Alibaba.com helped us to start exporting internationally in 2016, and since then, our revenue has doubled almost four times. Within three months of posting the product on Alibaba.com, Pham Ba Tien Household had its first customer - a buyer from the US who completed the purchase in just an hour!".

While the effects of the pandemic are waning over time and most of the world is back to normal, the lessons we learn during this global crisis will follow businesses for generations. Many businesses have faced tremendous challenges, but this experience has made them better equipped to overcome difficult situations and keep moving forward.

If there's anything positive to come from this situation, it's the shift to e-commerce in B2B commerce. The digitalization of B2B commerce presents new opportunities for buyers and sellers worldwide. Digitization makes commerce more accessible and affordable, as businesses can connect via the internet without going to trade shows or other events. In addition, with the support of Alibaba.com, global B2B commerce is easier than ever.

Thanh Tung (Vietnam Business Forum)