Amazon Business was expected to grow much faster than B2C Amazon, Alibaba is showing no signs of decreasing demand, and many B2B start-up marketplaces are raising substantial investment funding amid the COVID-19 pandemic.
In 2020, furthermore, the Gross Merchandize Value of third-party marketplaces was expected to grow by about +40% year-on-year, and vertical marketplaces’ GMV was expected to rise by 25% over the same period. These and other factors indicate that in the B2B arena, marketplaces are becoming a major trend in 2021, and this is likely to continue.
Even though B2B marketplaces currently hold an only a marginal share of the total B2B sales, their future looks much brighter.
Globally, more than one-third of B2B buyers used marketplaces to purchase at least half of their products and services in 2020, while less than 10% of those surveyed did not use marketplaces.
Moreover, after the onset of COVID-19, around one-fourth of B2B buyers significantly increased their purchases on marketplaces.
With that, for over half of B2B buyers, the average amount spent on B2B marketplaces increased during the pandemic. Furthermore, in Germany, among all other sales channels, nearly one in four companies were using B2B marketplaces as a sales channel.