Post-show Recap: Alibaba CoCreate 2024 Grows Attendance by 53% Year Over Year
September 30, 2024
As the flagship event produced by global B2B e-commerce platform Alibaba.com, Alibaba CoCreate bought together more than 2,000 e-commerce and supply chain industry experts, celebrity entrepreneurs, Alibaba.com users, manufacturers, and small to mid-sized e-commerce businesses to explore current trends, including the new developments in artificial intelligence (AI) that are driving the e-commerce space. The Chinese technology company’s event grew attendance by 53.8% year-on-year. For the quarter that ended June 30, Alibaba generated revenues of $33.5 billion--a 4% year-over-year increase.
Held in Las Vegas for the second time, the event showcased the company’s latest B2B sourcing tools, services, and technologies. CoCreate 2024 offered more than 50 interactive learning sessions designed to help businesses improve their sourcing and supply chain operations, as well as provided a platform for learning, networking, and inspiration for B2B buyers and sellers.
Who, When & Where: Alibaba.com CoCreate, Sept. 5-6, Paris Las Vegas
Show Size: The second annual CoCreate attracted more than 2,000 attendees and 30 Alibaba.com suppliers across a 9,500-square-foot show floor that featured a keynote stage, learning center, podcast area, and session space.
Looking Back: Held Sept. 7-8, 2023, at Resorts World Las Vegas, the inaugural CoCreate drew more than 1,300 attendees and more than 7 million livestream worldwide viewers.
Best new features and products: To help start their businesses, seven entrepreneurs were pre-selected for a shopping spree worth up to $1,000 in products for the Alibaba.com Dream Cart display through the platform’s Alibaba Guaranteed service. The display was highlighted by a large shopping cart filled with items from a variety of vertical categories available on the Alibaba.com website.
In collaboration with Entrepreneur magazine, a series of “My Way” vignette videos highlighted the entrepreneurial and sourcing journeys of four U.S.-based Alibaba.com buyers. As attendees made their way to the expo and main stage areas, they walked through four displays focusing on each of these entrepreneurs and their products.
The e-commerce company also unveiled its new AI Sourcing Agent, designed to simplify online global sourcing for businesses of all sizes, which is set to launch later this year. Offering key features such as conversational search capabilities, proactive sourcing-need interpretations and recommendations, and intelligent comparisons of potential suppliers and their quotations, the new AI tool was available for CoCreate attendees to test out at special booth.
In response to recent supply chain disruptions around the world, Alibaba.com announced a slew of new supply chain logistics solutions, including fulfillment optimization to ensure delivery speed and efficiency, competitive shipping solutions such as small package consolidation and shipping price comparisons, and enhancing online customer support throughout the sourcing process, from pricing inquiries to final delivery.
Beyond the show floor: This year’s event featured a “Pitch the Pros” competition featuring 15 pre-selected entrepreneurs showcasing their innovative business and product ideas with the chance to turn their visions into reality and establish vital connections with potential suppliers. The competition was hosted by Daymond John, founder of FUBU and star of Shark Tank, and Chris Guerrera, founder of The Modern Inventor and two-time Shark Tank entrepreneur.
Following their pitch, competitors received instant feedback and guidance from notable judges, including Jason Feifer, editor-in-chief of Entrepreneur magazine; Courtney Spritzer, co-founder of Entreprenista & CEO of Socialfly; Carmine Denisco, president of Earmark Sourcing, Rudy Mawer, celebrity marketer & TV host; and Everette Taylor, CEO of Kickstarter.
Revealed live on stage, the five winners received a prize package comprising Alibaba.com platform credits worth $2,500 for use on Alibaba.com and $2,500 in cash, VIP Request for Quotation services, and priority access to Alibaba.com’s AI sourcing tools.
What they are saying: “This year’s CoCreate event was a huge success as we brought together entrepreneurs, suppliers, industry experts and more to talk about the current state of the e-commerce industry and look toward the future where global sourcing is simplified,” said Rah Mahtani, head of marketing, North America, Alibaba.com. “We want to thank everyone who helped to make this year’s event special with such big announcements about our future around AI and new financial and logistics solutions for our entrepreneurs and suppliers.”
Looking ahead: CoCreate 2025 dates and venue have not yet been announced.
Don’t miss any event-related news: Sign up for our weekly e-newsletter HERE, listen to our latest podcast HERE and engage with us on LinkedIn!
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
Add new comment