A B2B Wholesale online trade is the platform where businesses can sell products to other businesses in bulk quantities. If you are considering getting into the B2B sector, or you just want to diversify your selling funnels, you might want and need to consider getting into a B2B marketplace online.
More and more business owners and entrepreneurs are adopting tech to stimulate company’s growth. Wondering what such a marketplace can do for your business? What are the differences between B2B and B2C marketplace?
Here is everything you need to know about wholesale B2B platforms.
What is Business to Business Wholesale Marketplace?
A wholesale B2B platform is technology that connects wholesale suppliers with buyers. It enables wholesalers to reach more customers, making selling products easier and more efficient. The marketplace allows for automatization of the trade, introducing tools that help manage orders, finances, deliveries. It also helps to promote your business and products, as well as establish new relationships, as you are exposed to more companies operating within your industry.
The best B2B wholesale platforms vary based on industry and your business’s needs. All you have to do is make sure the user base within the platform is large enough to connect you with the best buyers. A B2B trade marketplace can also offer advertising space for companies that wish to do so, so take that into account. An all-in-one solution that lets the wholesaler have control over every aspect of their sales is an ideal solution.
What Makes a Vertical B2B Marketplace Different?
You should also be aware that within the large B2B wholesale marketplace, there is also space for a niche marketplace where wholesale products and services sold online are only within a single industry. Although the wholesale B2B platform for vertical marketplaces is smaller, it is beneficial for those companies that operate within a niche market. Vertical marketplaces help save on marketing costs since it connects companies with ease and typically has built-in marketing functionality.
Differences Between B2B and B2C Platforms
In general, B2B wholesale platforms offer fewer products, less variety when it comes to product category than direct to consumer platforms. It is designed to ensure quality, but also limits the marketplace to fewer customers.
On the other hand, B2C marketplace orders can be of any size. However, often a single item/unit is sold there. Wholesale B2B marketplace orders are far larger in size and minimum order quantities are commonly required.
B2B wholesale platforms also have a different pricing structure. Here, pricing is based on the relationship and individual agreements between the wholesaler and buyer. Sometimes, platforms may even use a bidding system or pricing tiers. It is quite common to find offers of bulk shipping, volume discounts, a recurring order contract within this sector. However, all customers using B2C marketplaces pay an equal price for the same goods.
Delivery time is another important difference between B2B and B2C marketplaces. Direct to consumer platforms, like Amazon, live and die by how soon orders are fulfilled. It can take even less than a day to deliver a B2C product these days. Wholesale B2B platforms have a higher emphasis on orders arriving on-time than on them arriving quickly. Reorders are less likely in this scenario, if the quality is not top-notch.
Suggested reading: How To Buy Direct From China
Final Words
The B2B wholesale platform is where companies purchase products in bulk, so they can resell them for profit, a pretty straightforward idea. B2B wholesale platforms offer a lot of possibilities for manufacturers, producers, and distributors. They allow you to save money and run a wholesale business smoothly, and those reasons alone should help you decide whether it is right for you.
Check out all the platforms that operate within the industry and choose one that offers you the best deal. Good luck with your wholesale online sales!
