When it comes to online shopping, visualization that comes in mind is about individualwho is buying products from Amazon, ebay or Flipkart right? But ecommerce industry is not limited to that only in this technology-driven era.
Businesses have also started doing commerce online. Businesses selling to other businesses via ecommerce platform known as B2B ecommerce are performing great.
It means Wholesalers, Manufacturers and Distributors are selling to retailers, suppliers online. This is about direct B2B model. Just like B2C, B2B also offers ecommerce marketplace platform.
Surprising fact is that though less popular and recently arise, B2B Ecommerce industry is double the size of B2C ecommerce!
Flexfire LEDs is one such brand which receives 80% of its revenue from B2B sales.
It is forecasted that global B2B ecommerce revenue will top $6.7 trillion by 2020.
73% of B2B millennial are involved into purchasing decision that has different mind-set and preferences for buying. And thus it’s necessity for businesses to be available at the places where their clients are. (Reference: forrester.com)
Running a B2B ecommerce channel is inherently more complex than traditional B2C ecommerce. B2B clients need extra functionality and personalization than B2C.
It can easily be overcome by modern B2B ecommerce platform.
In B2B commerce, you have different pricing structure for different customers according the volume of business; order quantity, product type etc. Here the customers can also request for custom quote.
B2B ecommerce platform provides such functionality to handle whatever complex pricing structure your businesses have.
It has the feature to offer you bulk discount functionality in order to attract bulk purchase and develop customer loyalty ultimately enhancing business relationship. It also determines Minimum Order Quantity (MOQ) to set your margins and make you remain profitable.
Personal customer storefront would be given with single and multiple accounts where they need to register and submit their info. It also enables to give specific roles and access to particular user.
Based on the customer profile, custom order quantity, discounts, price, MOQ, payment terms etc. would be determined. Also, it will allow you to offer custom catalogues, one click reordering, personalised promotions and order tracking facility.
It offers you multiple and flexible online payment mode along with selected days credit facility that is accommodated in your ecommerce store itself. It helps in improving reordering and managing customer loyalty.
Responsive, fully customised and scalable ecommerce platform solutions including website, mobile apps, and web apps for your B2B ecommerce is to give comfort and ease to your client at your virtual store. Client can access their profile from anywhere from any devices. User Interface in B2B is as important as it is in B2C.
In-built marketing feature to enhance your sales made possible with timely reminders, notifications, personalised offers and discounts and many more. Search engine friendly solution to fulfill your desire.
So, this platform offers end-to-end solution reduces human resource efforts. Sales reps in this case are to assist clients and perform consultative role rather than manual paper work.
So, what are you waiting for? Scale-up your B2B commerce by uplifting it to online with the help of B2B ecommerce platform!
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