Is it a smart idea to invest in a B2B wholesale platform? Here are some reasons that confirm why this might be the best idea for you and your business!
The ecommerce and digitalization have taken over the world and our personal/business lives. There was a time when traditional or offline stores were the only way of purchasing the things you want and need. Today, with the evolution of online purchasing, a lot of people have migrated from brick-and-mortar stores to online marketplaces.
People think that ecommerce is limited to business-to-customer companies or B2C companies but there are so many great b2b platforms that are popular as well. Wondering what a b2b platform is?
It is an online platform that allows all business-to-business companies to sell their items and conduct their transactions on the web.
Finding and choosing a great b2b ecommerce solution is not the easiest thing in the world. You need to analyze and compare various b2b platforms and choose the best one that can perfectly suit your business requirements. Some of the top b2b platforms that are taking over the market are Shopify and Magento.
But, as any other business owner out there, we suppose you are wondering – Should I invest in a B2B wholesale platform? Is it a smart idea to do so? Here are some reasons that confirm why this might be the best idea for you and your business:
- Better conversation rates & order values: In the B2C ecommerce industry, the volume of order per customer is low when compared to the B2B industry. The B2B clients tend to order in batches and customers are better accustomed to self-service. They are already a fan of ecommerce solutions and when you add this to the high-value orders, it is safe to say that you are going to achieve a steady revenue stream. The conversion rates of the B2B customers on e-commerce platforms is predicted to be high meaning they quickly decide to purchase your items.
- Size and predicted growth of B2B industry: The B2C companies are currently witnessing a stagnant growth. The B2B companies are still in the growth stage and the prediction is that it will grow in the future. Even the smallest businesses that enter the b2b ecommerce industry are going to benefit.
- The high speed of ecommerce platforms: Regardless of how simplified the process of your physical store is, it can never compete with the speed of ecommerce platforms. The platforms provide an improved speed of order fulfillment and transaction processing.
We can conclude that investing in a b2b wholesale platform is a smart and profitable decision.
Here some of the most popular articles that you can check: