In today’s business world, it’s more important than ever to find the most efficient and cost-effective ways to buy and sell products. This is especially true for eCommerce merchants, who are always looking for new and innovative ways to grow their businesses. In this blog post, we’ll take a look at the top 10 biggest B2B eCommerce marketplaces in the world in 2023. We’ll discuss what makes these marketplaces so successful, and we’ll explore how they can benefit eCommerce merchants.
B2B eCommerce Marketplace Introduction
Regarding eCommerce, business-to-business (B2B) transactions tend to be a little more complex than those between consumers. After all, businesses are typically buying and selling goods and services that are more complex and expensive than the average consumer item.
This is where B2B eCommerce marketplaces come in. These platforms allow businesses to find and buy the products and services they need from other businesses, all in one place. This can save time and money for both buyers and sellers, as well as streamline the entire transaction process.
But how do B2B eCommerce marketplaces work? Here’s a look at the basics:
- Businesses register on the marketplace. This can be done individually or as part of a company group.
- The businesses then create product or service listings, detailing what they’re selling and for how much. They can also include images, product specifications, and other relevant information.
- Buyers browse the listings to find what they need, then contact the sellers to negotiate prices and place orders.
- The sellers receive the orders, package up the products or services, and send them to the buyers.
- The buyers then pay the sellers, typically using a secure payment gateway on the marketplace platform.
This process may vary a little from one marketplace to another, but these are the basic steps involved in most B2B eCommerce transactions. By using a marketplace rather than conducting transactions through individual emails or phone calls, buyers and sellers can benefit from increased efficiency and transparency throughout the process.
Benefits Of Using A B2B eCommerce marketplace
There are a number of benefits of using a B2B eCommerce marketplace. Some of the most notable benefits include:
1. Increased efficiency and productivity
Another key benefit of using a B2B eCommerce marketplace is that it can help businesses to increase their efficiency and productivity. This is because businesses can use the marketplace to streamline their operations and reduce the time and effort required to complete tasks. In addition, businesses can use the marketplace to automate processes and tasks, which can further improve efficiency.
2. Reduced costs
Another benefit of using a B2B eCommerce marketplace is that it can reduce costs. This is because businesses can take advantage of suppliers’ lower prices and discounted shipping rates. In addition, by automating certain processes, businesses can save on labor costs.
3. Increased visibility
Another benefit of using a B2B eCommerce marketplace is that it can increase visibility. This is because businesses can reach a larger audience of potential buyers and sellers online. In addition, by listing their products and services on a marketplace, businesses can gain exposure to new markets.
4. Greater flexibility and choice
Another benefit of using a B2B eCommerce marketplace is that it provides greater flexibility and choice. This is because businesses can choose from a variety of different platforms to suit their needs. In addition, businesses can select the right suppliers and products based on their specific requirements.
5. Improved Customer Support
The marketplace can also help businesses to improve their customer service and support. This is because businesses can use the marketplace to provide customers with 24/7 access to their products and services. In addition, businesses can use the marketplace to offer customer support and assistance, which can help to improve customer satisfaction levels.
Best Practices To Operate Your Stores On B2B eCommerce Marketplace
To profitably run a store on a B2B eCommerce marketplace, there are a few best practices that you can follow to ensure that you are getting the most out of the experience. Here are a few of them:
1. Make sure that you have a well-defined product offering
When selling on a B2B eCommerce marketplace, it is important to make sure that your product offering is well-defined and easy to understand. This means that you should avoid selling products that are too varied, and instead focus on selling products that are related to each other. This will make it easier for potential buyers to understand what it is that you are selling, and will also make it easier for them to find what they are looking for.
Another important aspect of selling on a B2B eCommerce marketplace is to make sure that your prices are competitive. This means that you should do your research and find out what other sellers are charging for similar products.
You should also make sure to keep your prices updated, as buyers will be able to compare your prices with those of other sellers. If your prices are too high, you may find that buyers will be reluctant to purchase from you.
2. Promote your store prominently on your website
Another best practice when selling on a B2B eCommerce marketplace is to promote your store prominently on your website. This means adding links to your store’s page on your website, as well as adding buttons or widgets that allow potential buyers to easily navigate to your store’s page. By doing this, you can make it easier for potential buyers to find and purchase from your store.
In addition, you should also make sure that your website is optimized for search engine ranking. This means using relevant keywords in your website’s content, as well as in the titles and descriptions of your products. By doing this, you can help potential buyers easily find your store when they are searching for products online.
3. Use high-quality images of your products
One of the most important aspects of any online retail experience is the quality of the images used on the site. This is especially true when selling on a B2B eCommerce marketplace, where buyers will be making purchasing decisions based largely on the images of the products you are selling. This means that you should use high-quality images of your products in order to make a good impression on potential buyers.
Additionally, make sure to use images that are properly sized and formatted for the marketplace you are selling on. It is also important to have multiple images of each product, from different angles and in different lighting conditions. This will give buyers a better idea of what the product looks like and how it can be used.
Finally, make sure to use descriptive alt text for all of your product images. This will help buyers who are looking for specific products find your listings more easily.
4. Offer good customer service
Finally, one of the most important things you can do when selling on a B2B eCommerce marketplace is to offer good customer service. This means responding quickly to customer inquiries, addressing complaints promptly, and providing excellent customer service overall. By doing this, you can create a positive buying experience for potential buyers, which can lead to more sales in the future
Top 10 Biggest B2B eCommerce Marketplace
The global business-to-business (B2B) eCommerce market is expected to grow at a compound annual growth rate (CAGR) of 17.8% from 2017 to 2021, according to a MarketsandMarkets report.
The top 10 B2B eCommerce marketplaces accounted for more than 60% of the global market in 2016. Here are the 10 biggest players in this growing sector:
Alibaba is the world’s largest B2B eCommerce marketplace, with a total gross merchandise volume (GMV) of $547 billion in 2016. The company operates a number of different platforms, including Alibaba.com, Tmall, and Taobao. Alibaba also owns AliExpress, which is a B2C eCommerce platform.
Alibaba was founded in 1999 by Jack Ma, a former English teacher from Hangzhou, China. The company started out as an online marketplace for Chinese businesses and manufacturers, but soon expanded to include businesses from all over the world. Today, Alibaba is a global eCommerce powerhouse. In addition to its B2B and B2C platforms, the company also operates a number of other businesses, including cloud computing, payments, and logistics.
eBay is the second-largest B2B eCommerce marketplace in the world, with a GMV of $175 billion in 2016. The company offers a wide range of products and services, including business-to-consumer (B2C), consumer-to-consumer (C2C), and business-to-business (B2B) sales. The platform also provides a variety of services such as payment processing, shipping, and logistics.
eBay has a wide range of products and categories that are available for purchase. Businesses can purchase everything from clothing and accessories to electronics and home goods. eBay also provides a variety of services, such as payment processing, shipping, and logistics.
eBay is a great platform for businesses of all sizes to sell their products and services online with a wide range of features and tools that businesses can use to manage their sales and operations. eBay also provides a number of marketing and promotional opportunities that businesses can take advantage of to reach a wider audience.
3. Amazon Business
Amazon Business is the third-largest B2B eCommerce marketplace in the world, with a GMV of $85 billion in 2016. The Amazon Marketplace offers more than 2 million business products and services, making it a one-stop shop for businesses of all sizes. Amazon Business serves more than 150,000 businesses and organizations in the United States.
Amazon Business offers a number of features that are designed to make it easier for businesses to find and buy the products they need. These include business-only pricing, quantity discounts, Amazon Prime shipping benefits, and the ability to create and manage multiple user accounts. Amazon Business also offers a number of payment options, including purchase orders, credit cards, and ACH transfers.
ECPlaza is a South Korean B2B eCommerce platform that was founded in 1995. The site offers more than 10 million products from more than 200,000 registered suppliers. ECPlaza has been a pioneer in the eCommerce industry and has been recognized as one of the top 100 sites in South Korea. The company has a strong focus on small and medium-sized businesses and offers a wide range of services to help them grow their online presence.
ECPlaza is a great choice for businesses that are looking for an affordable, easy-to-use eCommerce platform with a wide selection of products and suppliers. The site offers a variety of features and tools to help businesses grow their online sales, including product listings, supplier directories, buyer protection, and more.
Europages is a European B2B eCommerce platform that was founded in 1993. The site offers more than 5 million products from more than 350,000 registered suppliers. The platform is available in 26 languages, and it covers more than 60 countries.
As a powerful B2B eCommerce platform, Europages offers a wide range of products from suppliers all over the world. The platform is easy to use and it is available in 26 languages, making it accessible to users from all over the world. The marketplace has a strong international presence and it is a part of the Fournisseurs.com group, which gives it even more credibility.
6. Global Sources
Global Sources is a Hong Kong-based B2B eCommerce platform that was founded in 1971. The site offers more than 1 million products from more than 50,000 registered suppliers. Global Sources is a popular site for buyers looking for products in the electronics, fashion, and home & garden categories.
Global Sources has a verified supplier program to help buyers find trustworthy suppliers. The program requires suppliers to submit business licenses and other documents to prove their legitimacy. Global Sources also offers a buyer protection program that covers orders that are not received or are not as described.
The site offers two membership options: free and paid. Paid members have access to additional features, such as contact information for suppliers and higher search rankings.
7. Fashion United
Fashion United is an Amsterdam-based B2B eCommerce platform for fashion brands and retailers that was founded in 1998. The site offers more than 1 million products from more than 20,000 registered brands and retailers. The company has 10 employees and is headquartered in Amsterdam.
Fashion United’s eCommerce platform offers a number of features that are designed to help fashion brands and retailers sell online, including a product catalog, order management, and shipping integration. The site also offers a blog and forum where members can discuss the latest fashion trends and share tips and advice.
In addition to its eCommerce platform, Fashion United also offers a number of other services for fashion brands and retailers, including brand development, web design, and social media marketing.
Made-In-China is a Chinese B2B eCommerce platform that was founded in 2000. The site offers more than 15 million products from more than 500,000 registered suppliers.
The company has been growing rapidly in recent years and now has over 60 million monthly active users. In 2018, it was ranked as the sixth largest B2B eCommerce platform in the world by market share.
Made-In-China is a popular choice for buyers looking for quality products at low prices. The site offers a wide range of product categories, including electronics, machinery, chemicals, and more.
9. Dh Gate
Dh Gate is an Indian B2B eCommerce platform that was founded in 2007. The site offers more than 14 million products from more than 400,000 registered suppliers. buyers can find products in categories like electronics, fashion, and home & garden.
Dh Gate is a great place to find good deals on bulk orders. The site offers discounts of up to 50% on wholesale orders. Dh Gate is also a good option for dropshipping. Dropshippers can use the site to source products and have them shipped directly to their customers.
TradeKey is a Pakistani B2B eCommerce platform that was founded in 2006. The site offers more than 10 million products from more than 100,000 registered suppliers. TradeKey is a popular choice for Pakistani businesses because it offers a wide variety of products, competitive prices, and good customer service.
While there are many B2B eCommerce marketplaces in the world, these ten represent some of the biggest and most popular platforms. If you’re looking to expand your business internationally, it’s worth considering selling on one or more of these marketplaces. They offer a large customer base and can help you reach new markets that you may not have otherwise had access to.
If you encounter difficulties in starting your online business, feel free to contact Tigren. With a competent staff and more than 10 years of experience in eCommerce development, we are confident to offer you one-stop-shop services to empower your ideas.
Let’s commence your journey and flourish with us.