Alibaba’s Impact on the U.S. Economy
NDP Analytics, an economic research firm, released a study this month that measures the positive impact U.S. businesses selling on Alibaba have on the U.S. economy. The study found that American brands sold nearly $61.4B in goods on Alibaba in 2021, supporting 390,000 U.S. jobs and adding $47.3B to the U.S. economy.
Thousands of U.S. businesses, such as Bissell, Fender, and Vitamix, access over one billion consumers in China through Alibaba’s robust ecommerce infrastructure with innovative tools and digital solutions. For example, Vitamix, based in Ohio, entered the Chinese market through Alibaba’s B2C marketplace Tmall in 2019 and has taken advantage of growing interest in home appliances on the platform. “Our growth in China is elevating the growth of our company overall. Not only are we growing in China, but we’re growing right here in Olmsted Township (Ohio),” said Jodi Berg, PH.D., who recently retired as a 4th generation president and CEO of Vitamix.
Despite the economic headwinds that businesses from around the world are facing, Alibaba sees strong consumer interest and engagement across its platforms in China. And, as companies look for opportunities to grow beyond their home market, Alibaba will continue to provide positive and innovative growth platforms for American brands.