Alibaba.com has launched a new service in which it does more of the legwork involved in cross-border trade.
For products sourced through Alibaba Guaranteed, which was officially launched Thursday (June 6), the global B2B eCommerce platform fulfills the orders itself and handles finance, the company said in a Thursday press release.
“Alibaba Guaranteed marks an exciting new chapter for [small and medium-sized businesses (SMBs)] and global sourcing as it will help to redefine the fulfillment standard of B2B cross-border trade,” Kuo Zhang, president of Alibaba.com, said in the release.
Alibaba Guaranteed offers products at fixed prices, with shipping fees included; dispatches goods within 72 hours; and guarantees delivery by the expected date, according to the release.
The platform also handles finance, such as escrow and payment terms, and provides after-sales services, such as quick money back when there are issues with orders and free local returns when there are defects, the release said.
Alibaba Guaranteed is designed to solve three common concerns SMBs have when it comes to online global sourcing: delivery time, logistics costs and worries about not receiving products, per the release.
Alibaba.com currently serves more than 48 million SMB buyers and has more than 200,000 suppliers on its platform worldwide, according to the release.
“Global sourcing can be a complex process with many moving parts, but Alibaba Guaranteed can help [SMBs] navigate it with greater ease,” Zhang said in the release. “With much of the legwork being done for SMBs by the platform, cross-border trade can be as simple as purchasing a pair of shoes from your favorite retailer online.”
Embracing the future of digital procurement is top of mind for buyers and suppliers across industries, PYMNTS reported Thursday. By providing centralized platforms where businesses can search for products, compare prices and place orders in a matter of clicks, digital B2B marketplaces reduce administrative burdens and allow procurement teams to focus on more strategic tasks.
Alibaba said in May that online shoppers’ spending habits depend heavily on how trustworthy they feel the platform is.
“Our investments in … elevating the user experience have received positive consumer feedback,” Alibaba CEOEddie Wu said May 17 during the company’s quarterly earnings call.