The concept of e-commerce in B2B businesses is relatively new as compared to that for B2C businesses. However, B2B e-commerce is poised for phenomenal growth in the near future. According to Forrester, the sales volume in the B2B market is going be almost the double of that in the B2C market by the end of this decade. The buyers in this segment too are showing an inclination to buying online as it saves time and efforts for them. This is the reason why a large number of sellers in B2B segment are looking to adopt e-commerce as their selling strategy.
The opportunities for B2B sellers are enticing but there are huge challenges too. The biggest amongst these is the functionality difference between a B2B and B2C website. Sellers have to work on this challenge as buyers expect a user-experience which is comparable with that offered by B2C stores. Choosing the right platform is of key significance in this context as it paves the way to a perfect shopping experience on the B2B store. But finding a platform suitable for their needs is easier said than done for B2B sellers. A few considerations can help them decide what would work for them:
- The platform should be apt for B2B requirements such as bulk order management, multiple customer handling, inventory tracking across multiple warehouses, and more.
- It should offer a high level of customization so that the store can be adapted according to the unique requirements of the business.
- It should be flexible enough to ensure that the workflows and processes are streamlined for smooth running.
- The platform should be easy to integrate with the pre-existing software like CRM, ERP and accounting solutions that the business already uses.
- It should have all the basic features such as responsiveness, payment options, user friendliness, and cost-effectiveness.
One of the best solutions is to avail Magento ecommerce store development for your B2B business. As a platform, Magento has all that is needed for running a B2B online store smoothly. A quick look at the features and functionalities gives a fair idea why this platform is considered ideal for B2B e-commerce:
The pricing process is more complex for B2B companies. They may vary from buyer to buyer as factors like sales volumes, buyer’s location, and individual and group discounts are to be taken into account. By opting for Magento eCommerce Development Services, you can enable your store to offer customer-specific pricing. The shopping history and purchase patterns can be used as parameters of price determination. Your store can even display the catalog without prices and quote them directly to the buyers.
Bulk Order Placement
The order process in B2B is far more complex than that in B2C. It encompasses a very large number of products with equally numerous variants in terms of colors, sizes, weights, and more. Magento is capable of handling such bulk order placement for your store as it is equipped with functionalities such as multi-item and multi-attribute product selection tools.
Another reason why Magento Development is right for B2B businesses is that it promises an excellent user-experience with smooth navigation and high-quality search facilities. Buyer analytics can be used to give personalized recommendations to them.
Customer Segmentation is another B2B compatible functionality that Magento has to offer. It enables you to set individual login for the customers so that they can be quoted unique prices. Besides prices, customers can be segmented on the basis of order processing priority, shipping terms, etc.
Synchronized Sales Channels
B2B involves multiple sales channels such as field sales representatives, stores, devices, and documentation. With its seamless and consistent features, Magento has the ability to synchronize these features so that they function smoothly even for huge sales volumes.
In addition to these specialized features, Magento is revered for its exceptional customization that makes it suitable for all the B2B requirements. The platform can also be easily integrated with the pre-existing functionalities in the store. Hiring a reputed Magento Web Development Company ensures that all its basic functionalities and dedicated extensions are rightly employed to create a robust e-commerce store for your business.