Published on : Jun 10, 2015
The entry of Alibaba Group Holdings in the U.S., is paved through small businesses, the same way which the online shopping portal employed in China, as commented by its billionaire chairman Jack Ma in a speech which divulged details of the company’s global ambitions.
The company is targeting to sell goods worth US$1trillion through its platforms by the end of the decade and may exceed Walmart Stores in sales in 2015, as Ma commented in New York recently.
The company is envisioned for 10 years, the plan is to help 2 billion consumers with online shopping, as said by Ma at a luncheon organized for the members of the Economic Club of New York.
He further said, the globalization of the company is focused to help small businesses and aid them to do business efficiently and effectively.
Making remarks which touched upon varied subjects such as Buddhism to importance of women in business, the business honcho touted Alibaba as the potential gateway for U.S. small businesses to have access to Chinese customers. Alibaba seeks to generate as much as 40% revenue outside China, which is only 2% currently.
To reach the target of sales of merchandise worth US$1 trillion by 2019, Alibaba would need to almost triple the present volume of goods that are currently sold through its online portals. By volume, the annual gross merchandise sales was worth US$393 billion by March 2015, which is an increase of about 46% from the previous year.
To achieve the targets, the company has plans to add 10 million small businesses to its online portals in the next 1o years, leveraging its infrastructure to connect sellers to consumers globally. The company also wants to add service for 72-hour shipping worldwide and 24-hour delivery within China.