Why Wholesale Businesses Need a B2B Ecommerce Platform
In today’s digitalized world, B2B sales have increased significantly over recent years.
As a matter of fact, B2B sales are expected to reach $1.1 trillion by 2020, outperforming B2C growth. When compared to previous years, that is a 41% increase.
Manufacturers and wholesalers are expected to expand their businesses and outspend retailers in ecommerce by the end of 2019.
The increase in B2B sales is important for wholesale businesses. Wholesalers can benefit from adopting a B2B ecommerce platform and stay competitive in today’s economy.
Setting Up a B2B Ecommerce Website
If you are planning to bring your wholesale business to a new level, setting up an online store is a step in the right direction. Today’s buyers are used to having everything accessible online.
Retailers like Alibaba and Amazon have created ecommerce businesses with billion dollars net worth and with more companies turning to ecommerce, it just a matter of time when this model will take over wholesale.
Setting up your own ecommerce website might be the simplest and most efficient way of expanding your wholesale business.
Ordering over the phone or email is limited by working hours and product catalogs are a bit bulky. If you set up your own online store, you will be able to reach new business customers at every time of the day.
Ecommerce will save you a lot of time and money. Instead of tracking inventory, fulfilling orders, and talking with your customers, ecommerce platforms like Shopify Plus, Bigcommerce Enterprise, Magento, and etc. will take care of those tasks.
As soon as your clients make a profile on the website, they will be able to purchase products in just a few clicks.
Why Wholesalers Need a B2B Ecommerce Platform
B2B customers are behaving more and more like buyers in their desire to see products, make orders, and complete payments. This is common in B2C business models, however, since recently, there has been a trend where B2B buyers are looking for the same things as ordinary customers.
For example, B2B customers are looking for a wholesaler who offers the option of purchasing items online and not in person, via email or over the phone.
B2B buyers start their product search on the web because it is easier and far more convenient. These digital professionals expect accessibility online and because of this wholesalers are adopting B2B ecommerce solutions and strategies to keep up.
With a B2B ecommerce platform, you will be able to cater to your customers’ needs and requirements.
Improving user experience is one of the B2B sales trends. Automatization of the whole sales process includes gathering data about the customer behavior which lets you adjust the process and customize it to their needs.
Customer feedback can be used to improve the experience, as well as, deliver personalized content.
You will be able to provide a suggestion based on previous purchases. Also, you can add an option of choosing favorite products, order products with a quick order, save the favorite products, and etc.
Wholesale companies can use the data from the customer’s previous orders to consider clients’ needs and help them restock the stocks before they run out.
B2B buyers are not only looking for access to products on your website. They are also looking for access through additional sales channels, for example, social media, marketplaces like Amazon and eBay, and other places to be used to access products.
According to one study, more than 60% of B2B companies report that customers who use both offline and online channels spend more.
The best B2B mobile ecommerce platforms will simplify and differentiate multichannel B2B sales process for wholesalers and brands. These B2B customers are more likely to stay loyal to your business, purchase more products, and buy more frequently than one-channel buyers.
Using multiple channels has its challenges, however, it is a good strategy to advertise and sell your products to other businesses. It is also a great strategy for increasing customer traffic and sales.
Wholesalers need to be familiar with these trends in B2B ecommerce and capitalize on it immediately.
In today’s digital world speed and immediacy are a necessity. You can’t run a successful wholesale business if you aren’t guaranteeing immediacy.
Customers are used to the fact of getting everything they need with a click of a button. Luckily, there are a few great tools to boost productivity.
Using a variety of tools and software solutions will help you cater to the customers’ needs and improve the productivity of your store.
By comparing data and analyzing previous purchases, you will be able to discover the buying habits of the customers and prepare for the next phase before it starts.
You can also use traffic data to keep track of the shipping and delivery process and find the fastest routes possible, saving both money and time.
By adding a live chat to your website you can answer questions instantly, solve customers’ issues quickly, thus improving the bond between you and the buyers. The impacts of digital tools and B2B software solutions on improving productivity are numerous.
Other Benefits for Wholesalers
For wholesalers in the business of selling seasonal products, a B2B ecommerce software solution will allow the business to access markets which are otherwise inaccessible.
While your products may not be attractive in a particular season where your business is based, a B2B online store can give you access to markets where interest for your products is high during a different season.
A B2B ecommerce store will remover any geographical boundaries with multi-currency, multi-lingual, privacy in-app support, native tax, and more. All of these features stimulate spending as they make the purchasing process faster and easier.
The wholesale industry is working in a different environment than a few years ago. By adopting a B2B software solution, you can boost sales, double your revenue, and stay ahead of the competition.