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B2B Commerce: What you need to know

Two years ago, the global B2B e-commerce market was valued at a staggering $14.9 trillion. This figure was five times that of the B2C e-commerce market. Leading global market research company Forrester has predicted that B2B e-commerce will make up 17% of any B2B sales in the US alone, reaching a whopping $1.9 trillion

It is safe to say that B2B e-commerce is reaching new heights and B2B e-commerce platforms will have a massive role to play.

B2B e-commerce is the sales of services or goods done via online transactions between companies and businesses. Orders are processed digitally. This gives more efficient buying and effective processes for wholesalers via a wholesale e-commerce platform.

It also improves efficiency for manufacturers, distribution firms, and all other major forms of B2B traders.

Over the years, B2B businesses have been slow in the uptake of b2b e-commerce solutions. Before the pandemic, an eMarker report discovered that only 9% of U.S. B2B online sales happened via a B2B e-commerce platform.

Now in 2022, things are looking very different for B2B traders. The days of cold calling, offline marketing activities, and paper chasing are a thing of the past. The world of B2B E-commerce is constantly changing, developing, and innovating.

One such force in this field is B2B e-commerce website development specialists Ordercentral They offer B2B Commerce platforms for ambitious B2B Companies that are looking to grow

Common Types of B2B E-commerce  

Wholesale – Businesses can buy goods in bulk at lower prices to resell at retail value. Goods are usually purchased at the manufacturing source or distributors. This type of B2B activity is called wholesale and can be supported by a proficient wholesale e-commerce platform.

Manufacturers – Manufacturers develop and produce goods on a mass scale. Normally these are finished goods, ready to be shipped to wholesalers and passed down the supply chain.

The automotive industry is a prime example of such manufacturers operating in a typically B2B environment.

Individual car parts can be supplied to a car maker that then puts all the parts together to sell to distributors for public purchase. All of the transactions before the retail of the vehicle will likely have been conducted in B2B transactions.

Distributors – More often, a distributor receives goods from a manufacturer. Online marketplaces such as Amazon, Walmart, and suchlike are prime examples of distributors that procure goods directly from manufacturers for distribution and selling.

B2B E-Commerce solutions are the future

32% of Business Professionals claim B2B E-commerce is the most effective sales channel. There is no doubt that B2B e-commerce platforms are very much needed and will only continue to grow.

Whether your business is small or large, you need to be thinking about shifting your business online. There is no shortage of e-commerce platforms but ensure you work with a professional b2b e-commerce platform solution provider like OrderCentral.

With increased conversions, improved client satisfaction, and centralized data, the benefits of having a B2B e-commerce solution are endless.

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