Navigating The Evolving

B2B E-Commerce Sector

Shifting towards a more sustainable digital model to accommodate all the opportunities headed your way

Navigating The E-Commerce B2B Sector

E-commerce has been around since the ‘70s in some form or the other
However, it has only recently gained traction.
The primary causal factor behind this is the growing reliance on digital tools
Online shopping trends and digital retail portals have all contributed to this expansion
To set yourself up for success, you must understand how e-commerce will shape the B2B market

What is the current state of the B2B E-commerce sector?

The B2B e-commerce market is currently valued at $8 trillion
By 2026, that valuation will reach $18.5 trillion
Due to this growth, technological advancements will likely prioritize this sector
The real question is: How can you optimize your online portal to be successful in this new digital era?

How can you set up your B2B e-commerce portal for success?

1. Restricted Access

A B2B e-commerce portal isn’t like a conventional online shopping portal
So, access must only be granted with the use of registered and verified accounts
To avoid prolonged negotiation, cater to those you have a prior relationship with
Still, leave a channel open for queries
An excellent way to implement this is to rely on Magento B2B for order quotations
Merely request the site developers to add in back-end functionality for order volume or price range visibility
The admin can then manage all the data through a single channel, while accepting or editing any requests

2. Customer segmentation

Start by dividing customers based on specific markers
This can include geographic location, frequency of repeat orders or order volume
This segregation will allow you to set standards for everything
You could even designate minimum order requirements to particular profiles

3. Discounted Catalogue Prices

Once you segment your clients, you can move your product at different prices
Regardless, customers with more buying power will always be more demanding
To cater to this group, offer discounted catalog prices

4. Look beyond the portal, towards a marketplace

As technology evolves, conventional online portals will soon go out of fashion
In their place, digital marketplaces will begin to gain prominence
These are consolidated platforms that bring buyers and suppliers together
To adapt to this, your site needs to be compatible with such advancements

Key takeaways

Remember, B2B customers aren’t equal
Some have significantly more buying power than others
Recognizing those clients is crucial to establishing a dominant market presence
It’d help if you also built your portal to be compatible with the incoming advancements
Incidentally, outsourced professional developers will be the ideal way to do this