Marketplaces have been around for centuries, and in the digital age, buyers and sellers meet online at any time convenient for them, 24/7. A B2B wholesale platform is a profitable solution for businesses to sell their products in bulk to other organizations. The B2B wholesale eCommerce is growing, and there are many benefits for sellers and buyers. B2B wholesale is an aggressive marketplace and thus a topic of interest for many existing and aspiring entrepreneurs.
Below we’ll present a few important benefits of B2B wholesale marketplaces.
Benefits for sellers
The multi-vendor B2B wholesale marketplace is quickly taking over the world. It’s an efficient, convenient, and fast digital tool providing multiple opportunities for sellers and procurers. Each year, more and more such marketplaces are opening, covering numerous industries and regions. Some of the benefits include:
A B2B eCommerce platform provides businesses with an online presence and gives them control over their brand. This allows them to promote, strengthen, and grow their brand locally and internationally. With B2B wholesale you don’t need the middlemen, because you can sell your products in large volumes to retailers. With a B2B wholesale platform, you’ll be able to reach more new clients, and even new marketplaces.
The core function of B2B wholesale is to sell the products in bulk to retailers without passing them to other intermediaries, which can help them create a good sense of brand awareness from new clients by simply reselling their items to retail partners, who resell to their customers. Note that developing SEO-friendly content for your eCommerce site is another fast and great way to improve your site’s search engine ranking, improving the likelihood that your brand will be visible to your target audience.
Cost-effective entry into B2B eCommerce
The B2B wholesale marketplace helps minimize the cost of developing and deploying eCommerce as it already has all the necessary tools. This is especially helpful for startups, as well as small and medium-size businesses that may not have enough resources to produce their eCommerce platform. The B2B marketplace is a great place to raise awareness, start sales, get in touch with your customers, and collect their feedback.
One of the greatest benefits of selling wholesale online is eCommerce automation. This way you’ll spend less time managing orders via email or phone, and more time on the strategic needs of your business by using an eCommerce platform to sell your products. It’s a great way to automate time-consuming manual processes for wholesalers. Doing things like billing and inventory management are done through apps which make the whole process much easier and more cost-effective.
Attracting a higher number of clients will undoubtedly boost your sales but keep in mind that there are much more ways that a marketplace website can boost your business performance. Choose the right online marketplace and you’ll be able to showcase the most relevant product recommendations for your customers. You’ll be able to sell more products efficiently and also highlight items with more features.
A B2B eCommerce website will not only help you reach new customers but also allow you to easily implement an automated cross-sell and upsell recommendation program. By doing this, you can increase sales by offering relevant suggestions to customers on your website and encouraging them to buy related items or items with more functionalities and features. Note that a well-designed platform provides the right information to your customers, which means making the ordering process much easier.
Brands like Amazon, have set the standard for providing an exceptional eCommerce experience and today’s shoppers expect a similar experience whether they’re shopping for pleasure or business. Although there are many differences in experiences for retail shoppers and B2B buyers, keep in mind that B2B organizations still need to employ intuitive design, interactive functionality, and rich content in their websites in the way of product recommendations based on previous searches, account settings, wishlists, and so on.
As the retail world had become more efficient and seamless, more is expected of it. Buyers are less tolerant if a mistake was made entering stock data or shipping delays happen. As the bar is set high, B2B wholesale businesses need to prioritize customer service to both customers and other businesses alike. B2B eCommerce provides a great platform for ordering, paying, confirmation, shipping, and tracking, which also saves a significant amount of time.
An effective B2B eCommerce digital experience platform enables organizations to grow and scale easily, meeting new market demands and customer needs. Keep in mind that by adopting extensible B2B cloud solutions, you’ll be able to improve your marketing and merchandising capabilities. Opening new sales and continuously reaching new market segments, means you’re creating compelling content for targeted B2B buyers.