Frequently, people wonder what is B2B eCommerce, and often picture it as a B2C environment. However, eCommerce B2B is designed for business-to-business transactions. Many types serve multiple industries. If you’re interested in learning more about B2B eCommerce models and trends, this is the blog for you.
B2B eCommerce is providing a marketplace where both the buyer and seller are businesses. B2B can encompass multiple industries from accounting to farm equipment to office products to mobile devices to electronics and more. Further, the B2B digital eCommerce market is valued at 6 times more than the B2C market.
As COVID-19 accelerated digital transformation across all industries, the B2B eCommerce is here to stay and will only get bigger in the near future. Further, these are the trends we will see more of in the next 5-to-10-years:
A B2C seller would be a brand like Nordstrom, Walmart, or Home Depot. On the other hand, B2B sellers focus on selling products to businesses such as selling medical supplies to a private clinic or lab.
By leveraging B2B eCommerce, companies can reach a far larger audience and underserved markets across borders, countries, and continents and offer an always-on marketplace. Relative to onsite shopping, B2B eCommerce helps to decrease costs, improve operational efficiencies, automate many redundant and manual tasks, and reach B2B audiences where they are. Here are several other benefits we ended to mention:
Worldwide, online B2B marketplaces are the fastest-growing in the eCommerce space. Multiple businesses shop from B2B marketplaces, including:
Since B2B eCommerce caters to businesses, these are the types of department heads who make and approve purchases for their respective companies:
B2B eCommerce business models do vary. You can determine the right model for your organization based on your location, what you sell, your industry, your business type, and your future growth plans. As you can see, B2B eCommerce models are wide-ranging, including:
If any of the points below feel relevant to your situation, then it’s time to look for a B2B eCommerce platform:
While every business is unique, and strategies that work for your organization may not work as well for others, here are the primary components for an effective B2B eCommerce deployment:
Fortunately, open-source B2B eCommerce platforms such as OroCommerce provide the ability to automate time-consuming processes using low code. Right out of the box, OroCommerce comes with the features needed to support any B2B eCommerce model, from B2B2C to D2C and more. Further, it is a flexible and agile platform including an API that ensures you can create a custom B2B eCommerce marketplace that can scale with your business.
OroCommerce is not a one-size-fits-all B2C solution, it is tailored for B2B eCommerce right out of the box with support for sellers, customers, resellers, partners, brokers, and stakeholders. It also provides a back-end admin to help you maintain long-term business-to-business relationships.
In addition, you can count on the ability to manage data, inventory, multiple websites, and vendor portals from a centralized portal. As your single source of truth, OroCommerce ensures you only need to enter data around products, inventory, and pricing into one system.
OroCommerce also supports self-service and intuitive UX experiences for your customers, along with options for personalization to drive trust and loyalty. Since it is open-source, you can count on continuous improvements backed by a robust ecosystem of developers and end-users.
You can build your B2B eCommerce marketplace from the ground up rapidly and deploy in the cloud based business intelligence or on-premises complete with integrations and PWAs for headless eCommerce. OroCommerce also comes with a built-in CRM system to ensure you never lose track of your sales pipelines, projections, forecasting, and marketing. Additionally, OroCommerce provides the ability to launch a completely functional storefront, ready to sell, quickly. Therefore, you can focus less on road mapping and more on getting started on your ROI.
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