A multi-trillion dollar market. Yes, that’s how huge the B2B eCommerce market is.US B2B eCommerce will hit $1.8 trillion and account for 17% of all B2B sales in the US by 2023. These statistics imply that eCommerce is the future not just for B2C, but also for B2B.
This rapid growth of the B2B segment has given birth to a constant need for evolution for the sellers. An increasing number of buyers are moving to various eCommerce channels and for the same reason, many B2B eCommerce businesses are looking for top B2B marketplaces that can offer them a variety of features, offers, and services that can help them grow. Globally, the B2B eCommerce marketplaces make up a $31 billion market. Many B2B eCommerce businesses are finding success in the digital marketplace industry, the reason being a pool of opportunities they offer for growth in sales and revenue.
What is a B2B marketplace?
In the words of laymen, a B2B marketplace is a digital platform that enables businesses to connect with various organizations on one platform. It is a type of digital platform where B2B buyers and sellers can meet to buy or sell products in bulk.
B2B eCommerce marketplaces have rapidly proliferated. The reason why the B2B platforms are experiencing a boom is that they understand the competitive advantage they provide and accordingly lean on their digital tools for maintaining it. It can be an amazing resource for all B2B organizations that are looking to build a digital network and interact with more like-minded businesses.
According to sources, the worldwide B2B marketplace sales could touch an estimated figure of $3.6 trillion by 2024.
So, if you are a B2B eCommerce business looking for a marketplace to build up your online business opportunities, we have compiled below a list of the top 10 most prominent B2B eCommerce Marketplaces to choose from. Choosing an appropriate marketplace will help your B2B eCommerce business increase conversions and achieve significant growth.
10 Most Prominent B2B eCommerce Marketplaces
Amazon for Business
With a geographical extension of over 14 countries, Amazon introduced a B2B platform in 2015. It is a B2B marketplace that allows businesses to directly connect with other like-minded organizations and figure out better newer business opportunities. Over time this platform has managed to build an extensive set of B2B features catering to all sizes. Some of its features are-
- An “only business” price model and bulk discounts
- Multi-user accounts with a defined purchase approval procedure
- Dedicated customer support representatives
- Analytics dashboard for detailed insights
Sources suggest, 55% of B2B buyers expect their Amazon volumes to proliferate. The impact this marketplace has on the overall scenario of online B2B businesses is huge and helps them with higher conversions and revenues.
Flexport – Freight forwarding
Flexport is an online B2B platform that is trying to make global trade easier for everyone. It is digitizing freight forwarding and creating a lot of visibility for online B2B businesses. It is also an end-to-end platform that streamlines the process of communication and allows real-time tracking of shipments. This platform works best for businesses that are involved in global trade and have to manage large inventories worldwide.
Sources suggest, 71% of Flexport users agree that access to data, analytics, and other features on Flexport enables them to make better supply chain decisions.
uShip
uShip is a platform where shippers and carriers meet. A platform that helps your B2B eCommerce business ship large items by connecting them to the carriers that might have that extra tuck space. This simple transport marketplace makes it super easy for businesses to ship large items like furniture, machinery, freight, etc.
uShip has some really interesting features for businesses that make it a great B2B marketplace.
- An all in one ship shop– Just list all the necessary details of the items you wish to ship. Whether it is a piece of furniture or a car, you can ship everything.
- Pay upon delivery- Once your details are submitted, all you have to pay is a small token to secure your space on the truck. The rest can be paid when the delivery is completed safely.
- Reliable support staff- In case of any query or issue. The uShip support staff is just a call away.
- Guaranteed shipments- The guarantee policies at uShip got you covered. In case of any sort of payment disputes or problems at the arrival of the shipment, there is a reimbursement of up to $500.
Such exclusive features of uShip make shipping quick, easy, and trustworthy.
Kitmondo- a one-stop-shop for machinery
A platform where B2B businesses can buy and sell machinery. An online marketplace for trading used machinery or other such equipment either domestically or internationally, without making any significant losses. Very carefully choosing each listing on the website, ensuring all the information is updated at all times, high quality, and making the finding process easier.
- A user-friendly website
- An easy the search process
- Searching through categories
- A personalized clientele approach
Features like these make Kitmondo-a prominent marketplace, super accessible, and highly used. Such marketplaces are like doors to numerous eCommerce business ideas and opportunities.
Alibaba- wholesalers and distributors
Alibaba is a leading platform for the wholesale of goods globally. This marketplace follows a very well-defined, strategic, and aggressive approach, which is why it has been one of the leading marketplaces globally. Sources state Alibaba has a customer base of around 35 million people.
It is a leading platform that helps SMEs go global. It helps you set up an eCommerce storefront and sell products globally. For example, a wholesale fashion storefront could be the best business to start online on such kind of a marketplace. Such marketplaces, also offer advertising tools for businesses to have a wider range of online business opportunities. This includes features like data analysis and dedicated customer support. A perfect marketplace for wholesale businesses to gain that competitive advantage and widen their product sales.
According to sources, 36.5% of corporate buyers use Alibaba as their sales channel.
Eworld Trade
Eworld Trade is one of the most highly credible B2B eCommerce websites. It aims to gather the most authentic and reliable sellers from across the globe. It is known for being a professional hub for leading B2B eCommerce businesses. With a seamless and mobile-friendly website, this B2B marketplace has a variety of online business opportunities to offer.
A fully optimized online platform, created with great search features is a great platform for a successful online business to start. A beauty or apparel eCommerce store could be the best business to start online in such kind of a marketplace.
eBay
Renowned for ensuring B2B eCommerce businesses with the most trusted deliveries. With prominent features like
- Flexible payment gateways
- Ensuring convenience
- Promising reliability
- Swift checkout process
- Assured product quality
- Excellent SEO
Ebay is a B2B platform that promises the most trustworthy product delivery. Sources state it has a satisfaction rating of around 79% and an active database of 132 million users. That’s exactly what a successful online business to start requires.
Global sources
Global sources have been one of the most credible B2B marketplaces for over 49 years now. The marketplace has gathered numerous suppliers and manufacturers across the globe providing the best quality products. Apparels, electronics, beauty products could be the best business to start online on this marketplace.
Global sources is a huge marketplace catering to millions of customers across the globe. It provides features like-
- A well-integrated platform
- Advanced technology
- A customer-centric interface
- Ensuring product quality
- Optimized descriptions
- High definition product images
With its services like exports and imports as well, the platform has successfully gathered more than a million active users and has also helped with the GDP of the country. A safe marketplace for a B2B eCommerce business to start.
Arrow – a tech marketplace
A leading marketplace for electronics and technology-related items that can be used in homes, businesses, and daily lives. They have an online as well as an offline presence in over 300 locations worldwide. With the help of this marketplace, global technology-related businesses can have a streamlined process and sell products effectively.
Arrow can be a great platform for a tech-online B2B business to deal in bulk quantities and get the cash flowing in the business.
Globality- a marketplace for sourcing
Globality is the world’s only AI-powered B2B services platform and marketplace. The perfect platform to connect with leading suppliers and manufacturers for any kind of sourcing needs. This marketplace is a one-of-a-kind platform that offers solutions right from the source to the contract.
It can help you gain that competitive edge by reducing costs and accelerating the speed with the help of AI. Sources suggest globalization helps an online B2B business improve their operating costs by 90%. It helps businesses to automate and eradicate the need for any manual request for proposal (RFP) process.
This was a combined list of the “Top 10 most prominent B2B eCommerce marketplaces”
Final thoughts
There exists a lot many B2B marketplaces around you. You as an online B2B business need to do the right research and find the right one for your niche. Getting your online B2B eCommerce business listed on a marketplace can be a great way to grow your business.
Before we end this article, here are some key takeaways from the read.
- B2B marketplaces help eCommerce businesses access a larger database in the market and reach out to more people.
- Achieving a higher operational efficiency at fair costs.
- B2B marketplaces help you build an online presence faster.
- Have higher conversions, sales, and revenues for the business.
