The marketplace is no more like before. Indeed, it has completely changed. The buying and selling habits of both buyers and sellers have completely shifted to another mode. The competition that has changed completely leads to another latest technology, named as b2b marketplace. With a host of features, this technology helps businesses to enjoy maximum growth. This leads to reaching out maximum possibilities of moving towards the global market. It is an online business platform where a huge number of buyers and sellers come on the website for business transactions.
So, we have understood that b2b marketplace is the transaction between many businesses where many buyers and sellers are involved. So, the shopping experience of different buyers and sellers who come together in online marketplace must meet the demand and supply needs of the businesses.
Like B2C (business-to-consumer) corresponding businesses, B2B marketplace platforms provides sellers with a bigger audience to go beyond their traditional path. A B2C marketplace like Amazon boosts the retailers who vend to the end-consumers. On the other hand, B2B online marketplace sellers can be retailers as well as distributors, brand promoters, or manufacturers that sell to other businesses either in bulk or in units using a B2B marketplace platform.
Before you buy a product, it reaches the B2C market, where it passes through different stages of B2B marketplace like selling the products to the wholesalers by the wholesaler, who, in turn, hands out the products to the retailers and finally they send it to the consumer market.
So, the B2C market is the last stage of long chains of exchanges involving Businesses. Actually, the business markets work behind the scenes for most of the consumers. But behind the scene, their importance is huge: a maximum number of the things we buy is the process of many purchases that remain invisible to us.
This worldwide marketplace may offer a huge product variety; just like other popular online business platforms that offer similar types of products with similar characteristics.
Let’s come up with some of the characteristics of the B2B marketplace!
The B2B marketplace is the new concept of marketing that has revolutionized the habit of buying and selling.