Jack Ma Thinks Alibaba Can Break $1 Trillion In Sales – With The Help Of US SMBs

Jack Ma believes in small business – despite the fact that the one he runs today is on pace to supplant Walmart as the world leader in retail sales. But before Jack Ma was China’s most successful entrepreneur, he too was a small business owner who struggled to get even a $300 loan.

Today, Ma is looking to add 10 million small businesses to Alibaba – and he wants to do it by encouraging U.S.-based businesses to start using Alibaba as their sales portal to China.

“I think it’s simple,” Ma told small business owners during the forum, which was hosted by American Express Chairman and CEO Ken Chenault. “[Create] innovative products and services and bring them to China. China in the next 10 years will become the largest importer in the world. We have to do importing to serve 1.3 billion people. And I’m thinking guys – just test it! We can guarantee 100 percent for sure if you sold the things you’ll get the money back in time quickly.”

Today about 2 percent of Alibaba’s earnings originate outside of China – but Ma’s goal is to push that up to 60 percent. A more impressive goal? Alibaba aims to sell $1 trillion worth of goods through its platforms over the next five years, Ma said.

However, to get there from here, international eCommerce needs an upgrade. To ship online orders and to pay for goods in different currencies is currently expensive and inefficient – though Alibaba believes it can fix both of those issues with the help of its partner firms, including logistics provider Cainiao and e-payments provider Alipay.

“Our mission is to help others make eCommerce better,” Ma said. “If you want a payment, Alibaba will help. If you need customers, we will help with logistical problems. We are the eCommerce enabler. I want to make a bet, small business always makes a bet. In five years, we will sell $1 trillion U.S. sales. That is going to be done not by Alibaba, but done by small business. How can we empower them, and sell with them.”

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