Digital disruption—and opportunity
We’ve seen the rapid expansion of digital technology continue to disrupt every aspect of how businesses operate and reshaping how business gets done. The pandemic further impacted the changing landscape. Lock-downs prevented many beauty and personal care businesses from delivering their hands-on, high-touch experience. Disruption of supply chains challenged salons and spas on keeping products in stock. Accelerating the digitalization of their businesses was often the only way to keep from shutting down. This included how they procured the products they needed to operate.
In fact, 93% of all U.S. companies are already doing some portion of their B2B business online.
However, when it comes to digital sourcing, professional buyers acknowledge there are challenges—especially when borders are crossed. Ensuring quality, and giving buyers access to more choices from different suppliers are fundamental in the sourcing process. Finding products at the right price that works for their needs, meeting their strict requirements, and managing smooth and fast delivery rank among the most important demands for buyers.
The dramatic impact of COVID-19
The COVID-19 pandemic dramatically accelerated “going digital” as many aspects of the industry have had to make adjustments, essentially overnight.
For example, amid the pandemic, B2B sourcing and selling through an online ecommerce marketplace grew by 14 percentage points—from 21% to 35%—between December 2019 and September 2020 (Source: Alibaba.com US B2B Small and Medium Business Survey, September 2020).
Businesses have now been exposed to the upsides of embracing ecommerce, and are in search of ways to successfully adopt these new technologies to gain more efficiencies, and achieve new levels of growth.
Alibaba.com and Elite Partner, Yunnan Baiyao, are leading the way
As one of the world’s largest B2B and wholesale online marketplaces, Alibaba.com, and their Elite Partners like manufacturer Yunnan Baiyao are leading the way in the digitalization of the Beauty and Personal Care industry.
Founded in 1902, Yunnan Baiyao ranked among the first national innovative enterprises, a century-old brand well-known both at home and abroad.
The products have been exported to Southeast Asia, Europe, America, Africa, and other regions. And hundreds of millions of people have used the company's products.
From the beginning, the company has been dedicated to the development of innovative personal care products that combine traditional Chinese ingredients and the modern world. With a long history in the wellness and personal care space, Yunnan Baiyao has established strong capabilities in product R&D and market research that enable them to meet the high demands of modern customers.
Equally important is the company’s commitment to environmentally-friendly products and natural ingredients. As one example, despite the much higher cost, the company utilizes PLA raw materials across products because of its characteristics of being skin-friendly, and environmentally friendly. Despite the higher input costs and lower product margins, the company feels that it's their corporate and social responsibility to bring these kinds of products to market.
A good example is the company’s innovations in the feminine hygiene category. They started 20 years ago to develop a more skin-friendly, non-sensitive, but highly absorbent and also environmentally friendly product. By pioneering the use of the plant-based Sophorae extract, they created the “Fine Day” brand, becoming the first sophora flavescens product in the market. Now recently, after three years of intensive R&D, they have just launched the "YXX" brand, using that same innovative approach to extend their line of feminine products specifically designed for women with sensitive skin.
Alibaba.com is built for optimizing digital trade
Alibaba.com serves millions of business buyers and suppliers of all sizes across more than 200 countries and regions, offering a suite of powerful tools built specifically for B2B trade. Business buyers can discover new products and place orders on the Alibaba.com platform fast, securely, and efficiently and sellers can reach a global audience for their products.
To make it easy to connect with partners like Yunnan Baiyao, Alibaba.com recently introduced an Elite Partner Event that is accessible year-round. This vetted group of global suppliers represents innovative, new technologies and products in a variety of categories to help enhance your competitive edge.
Access to premier suppliers is just the start. With the Alibaba.com global B2B ecommerce marketplace, companies can:
- Expand their international footprint. The inherently global nature of the Alibaba.com supplier base allows buyers to grow their reach digitally without the need to travel. Time zones become unimportant, allowing business discovery and communication 24/7.
- Optimize shipping efficiencies. Buyers can take advantage of transparent, reliable, and cost-effective logistics services, simplifying the entire process. Intelligent route algorithms and multiple freight forwarders and carriers are available to ensure end-to-end transparency and real-time tracking.
- Source securely from around the world. Alibaba.com supports over ten major global payment methods and 50+ currencies worldwide. To reduce the risk, buyers who purchase on the Alibaba.com platform can use the free proprietary order protection escrow service, Trade Assurance. Through Alibaba.com Trade Assurance, if anything goes wrong with issues of quality or shipping delays, Alibaba.com will assist in reaching a satisfactory outcome, including getting your money back.
Alibaba.com Online Trade Shows
Gaining direct access to Elite Partners like Yunnan Baiyao is what makes trade shows an incredibly valuable channel for business buyers to discover new suppliers and products and drive their bottom line. While in-person global shows are still on hold, Alibaba.com has been hosting a series of online trade shows that have resulted in tens of thousands of new connections. Visit Alibaba.com Online Trade Shows to learn more about their upcoming trade shows.
Interested in learning more? Check out our exclusive video interview with Kate Anderson, director of marketing for Alibaba.com, and Sally Xiong, sales director of Alibaba.com Elite Partner Yunnan Baiyao Quingtang Industrial.