The latest report published by Germany-based online research firm yStats.com, “Global B2B E-Commerce Marketplaces 2022” gives insights about the latest developments regarding B2B E-Commerce marketplaces. Some key highlights of the report include forecasts of B2B E-Commerce sales coming via marketplaces as well as the most frequently used channels of purchase among B2B buyers.
B2B E-Commerce marketplaces to become a next generation trend globally
With a surge in digitalization during the pandemic, B2B buyers, like their B2C counterparts, are now demanding a mix pf purchasing channels such as E-Commerce sites, digital marketplaces, direct supplier websites, and others. In light of this trend, B2B E-Commerce sales are forecasted to rise between 2021 and 2027 reaching a value in the trillions of Euros by 2027, as spelled out by the new yStats.com report. Additionally, B2B E-Commerce sales made via marketplaces are also forecasted to account for an increased share of total global B2B E-Commerce sales. Globally, online marketplaces were the most preferred channel of purchase among more than three-quarters of B2B buyers in 2021, followed by manufacturer’s direct websites, and online reseller’s direct website. Furthermore, as the adoption of B2B marketplaces continues, a significant percentage of B2B companies had already built their own online presence in 2021. More than half of B2B buyers also revealed that marketplaces are expected to be the most important trend in the year 2022, while also being one of the most prioritized technology investments to be made in the same year. The use of marketplaces across other regions of the world is also expected to rise steadily. For instance, in the UK, a percentage of B2B buyers were seen using digital marketplaces, such as Amazon Business, to buy goods and services in 2021. In Germany, more than a quarter of B2B companies made use of online marketplaces to provide information related to products and product related offers to their customers as of 2021. The Middle East and Africa also see a growth in several leading B2B E-Commerce marketplaces.
B2B E-Commerce marketplaces are also one of the top sales channels used by small and medium businesses worldwide
Not only are large corporations using B2B E-Commerce marketplaces to buy and sell their goods and services, but this is also a noticeable trend among small and medium businesses worldwide. As revealed by the new yStats.com report, in 2021, more than half of SMB’s were seen to be more inclined towards using online marketplaces to sell their products, with a notable share of them already using at least two marketplaces. In terms of the most favored marketplace, more than three quarters of SMB’s were seen leaning towards Amazon business, followed by eBay, and Walmart marketplace. Furthermore, more than half of SMB’s mentioned that the use digital marketplaces enabled them to bring newer products to the market, with other reasons being reducing costs, connecting with new customers, and accessing newer markets. Moreover, the majority of SMB’s selling on online marketplaces also made use of at least one integrated tool offered by marketplaces, such as invoicing, and storage. Several leading digital marketplaces worldwide, such as eBay business supply, TradeIndia, and Indiamart are also now exclusively focusing on connecting SMB’s with B2B suppliers and buyers.