Alibaba supports businesses in difficult times by launching a variety of initiatives
Chinese e-commerce giant Alibaba unveiled Project Sprout Up to help SMEs enter the global market.
The program is part of the ongoing Spring Thunder initiative, which was launched in April 2020 to help SMEs persist during the COVID-19 outbreak. The first countries to start the project in early June were Singapore, Italy, Korea, Russia, Indonesia and Vietnam.
As part of the Sprout Up project, Alibaba has reduced registration time on the e-commerce platform. The company also plans to reduce membership fees – for this, small and medium-sized businesses will be able to expand their presence in global e-commerce.
As part of the program, Alibaba also offers a set of digital devices supporting artificial means, allowing you to correctly match requests with suppliers. This will help enterprises to expand their customer base. In addition, the company works with its local partners to provide access to free webinars and expert lectures on online consumer behavior, business negotiations and marketing.
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Alibaba has previously stated that the COVID-19 epidemic is reducing production because many workers are unable to do their work. Therefore, most of the vendors working with Alibaba did not return to normal work due to shortage of staff. As a result, in February, Alibaba shares fell 1.8% during trading in the United States. The company also said that the epidemic affected the consumer behavior of the Chinese, who began to limit their discretionary spending, including travel and restaurant expenses.
Read: How to Buy on Alibaba – Useful Tips 2020
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