The 2020 Mid-Year Economic Update_long

Alibaba.com Launches 3 New Products and Services

Alibaba.com, a business unit of Alibaba Group, on June 2 announced three new products and services intended to allow U.S. small businesses to access digital logistics to source globally, alleviate cash flow with 60-day payment terms, and connect U.S. manufacturers and wholesalers with buyers through online trade shows:

• Alibaba.com Freight — Enables U.S. small- and medium-sized businesses to arrange their bulk shipments. According to a release, SMBs will have the ability to compare, book, manage and track ocean and air freight in real time.

• Alibaba.com Payment Terms — The trade financing solution embedded directly into the cross-border B2B ecommerce marketplace allows qualified buyers to order goods and pay for them up to 60 days after they are shipped.

• Alibaba.com Online Trade Shows USA — A series of digital trade shows that are category-specific and will connect U.S. manufacturers and wholesalers with business buyers in a live online format. According to the company, the first is the Nutrition & Supplements show, July 7-10.

“Doing business online is the bridge for American small businesses through this crisis and into the next decade,” says John Caplan, president of North America and Europe, Alibaba.com. “We are accelerating our transformation to get both sellers and buyers quickly set up for success and provide the critical tools and services that are required for growth.”

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