Today, the eCommerce market has been displaying some innovative and interesting changes. The playing field has been leveled and the B2C market now faces a new entrant at par with its original status in the form of the B2B market.
In its traditional form, eCommerce was directed to typical retail customers. However, markets the world over are facing tremendous upheaval. B2B businesses are now inching towards the reputation enjoyed earlier by B2C companies.
Traditionally, these markets were earlier closed domains, as they had complex business processes and needs. For example, only five years ago, the traditional B2B markets would not fit into what could be defined as an online business.
This has changed now largely due to improving technology and changing business laws around the world, resulting in a tremendous shift in how business is being done in the world markets presently.
This tectonic shift can be seen in the statement made by Jack Ma in March 2013, wherein he slammed the traditional B2C eCommerce model, which he also calls the Amazon model, as the wrong way to do business online. The following points apply:
To emulate their B2C counterparts, the B2B commerce have started going to the customers themselves, in what is called the B2B2C sales model. They have realized that going directly to the customer can be rewarding indeed, especially with the technology around that supports this tactic.
Better margins are tempting merchants to go directly to the customers. With B2B able to sell at better margins, which means that it can sell products at wholesale prices. Therefore, the market is now full of many brands that have opened their own stores. Following points reveal how things are shaping up:
Other issues such as consumer demand planning and planning for IT infrastructure issues are a major blockages in the pipeline.
Overall, B2B and B2B2C are are a new trade to learn, which needs a fresh look at issues such as frontend user experience, A/B testing, conversion optimization, analytics tracking, and so on. It needs meticulous planning and accommodating and if not taken seriously, the challenges that this could offer are enormous.
Some businesses that have recently entered the eCommerce arena in many countries around the world are the home and garden industry as well as the food and beverage industry.
These segments are doing extremely well in the online market, and if you belong to these segments, it would be a wise strategy to get your B2B or B2C eCommerce website constructed or tuned up in Magento for an excellent start in this hotly competitive sector. Additionally, you can consult us for a rocking eCommerce strategy that will take your eCommerce business places. The gains are all yours!
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Shivi Rao is a content marketer with Krish. She has worked in various industries spanning technology, science, rural marketing, startups & unicorns, eCommerce business, and digital marketing, believing that content is the foundation to facilitate the visibility of any organization and ensuring her words do the same. In her free time, you can either find her lifting weights in the gym or feeding the strays.
21 December, 2022 After WooCommerce, Shopify is the 2nd most loved and used eCommerce platform worldwide. Shopify is an entirely feature-rich eCommerce platform. It offers many drag-and-drop options, and its apps work tremendously for store owners. In addition, Shopify is easy to use as it doesn't require depth coding.
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