E-commerce and digitalization have taken over our lives. There was a time when brick and mortar stores were the only way of shopping. Now, with the evolution of online shopping, a lot of people have migrated from going to stores to merely visit an online platform.
Generally, people think that E-commerce is limited to B2C companies. However, there are many top b2b platforms that are catering to b2b companies as well. What is b2b platform? It is an online forum that allows b2b companies to conduct their transactions online.
Choosing a b2b Ecommerce solution is not always easy. You need to look at the various b2b platform examples and select the best one on the basis of a b2b ecommerce platform comparison. Some of the platforms that emerge as clear winners include Shopify B2B and Magneto.
The question still remains, should one bother investing in a b2b wholesale platform? Here are some reasons why this might be a good idea.
Size and predicted growth of B2B Industry
Contrary to popular belief, B2C companies are now witnessing stagnant growth. They are reaching their maturing stage. However, B2B companies are still in the growth stage. The size of this industry is massive and the prediction is that it will further grow in the future. This means that even the small businesses that enter b2b E-commerce industry are likely to benefit.
Better conversion rates and order values
In the B2C industry, the volume of the order per customer is quite low. However, b2b clients tend to order in batches. Customers themselves are better accustomed to self-service that E-commerce offers them. Hence, they already are a fan of E-commerce solutions. When you add this to the high-value orders customers bring in, it is safe to say that you are bound to experience a steady revenue stream. Also, the conversion rates of b2b customers on E-commerce platforms is observed to be high. This means they quickly decide to buy your products. This further substantiates the potential of growth of this industry.
The high speed of E-commerce platforms
Regardless of how streamlined the processes of your brick and mortar store are, they can never compete with the speed of cloud solutions. E-commerce platforms deliver an enhanced speed of order fulfillment. This is bound to satisfy your customers and increase the value you gain from the platform.
It is safe to conclude that investing in a b2b E-commerce platform is a wise and profitable decision.