Alibaba Homepage

Alibaba is one of the hugely popular eCommerce platforms in the world. It is more in demand in Asia and China. To be honest, there is nothing that Alibaba does not sell. You can find anything and everything, big and small on the website. Anyone can be a supplier and buyer because of the ease of use and flexibility of the platform.

Alibaba is ideal for bulk purchases between two businesses. If you are looking for a supplier in China, there is no better place than Alibaba. A simple search will list all the suppliers available on the platform. But there are other platforms that can serve as an alternative to Alibaba. Why do you need an alternative? Although it is rare, there are a few products that are unavailable on Alibaba. A similar platform can be helpful in finding better quality or rates. In addition to that, there are some features and payment methods that are better supported on other platforms.

Are you wondering if you should try out alternative eCommerce platforms? What if there are alternatives with better quality? What if they have more local suppliers? Read this post to answer these questions and find a better solution.

Chapter 1: What Is Alibaba?

Companies in Alibaba Group

Alibaba was created in 1999, amidst the Y2K hype, by Jack Ma and a group of 18 friends. It originally aimed to cater to small/medium China-based businesses and large businesses exporting to other countries. But within 3 years of its creation, it started to grow into one of the biggest names in online trade. 

It has steadily grown to become the leading Iaas service provider in China. It holds 44% of China’s retail eCommerce. As per statista, the estimated retail eCommerce in China is 3.99 trillion USD. 

Alibaba Group

Alibaba is not just one company, it is a group of companies that provide B2B, B2C, C2C, cloud computing, logistics, and financial services. It is not just extremely popular in China but is also a global eCommerce empire. In the first quarter of 2022, the number of Chinese active consumers reached 903 million while the international consumer number reached 305 million. 

Alibaba’s global market share contributes to 9.5% while in the Asia Pacific region, it is 25.5%.

As per the March 2023 stats, Alibaba’s market cap is 216.96 billion USD, making it the world’s 40th most valuable company.

1) What is the Significance of Alibaba?

China is the leading eCommerce market in the world and the second largest economy. The Chinese online market size is almost double the size of the US online market. It has a predicted revenue of 1,487,233.0 million USD in 2023. The revenue is expected to show a compound annual growth rate of 12.4%.