To Wholesalers & Retailers: What You Need To Know About B2B!
retailerWhat is B2B?
Simply put, companies use online platforms and websites to purchase products from suppliers at wholesale prices through the Internet. You can access to various potential business partners by these platforms. If you are a retailer and feel that wholesalers or suppliers no longer meets your needs, then these platforms can help you find other suppliers that better meet your business requirements. Similarly, if you want to diversify your product range, these platforms may also be useful.
By using the online wholesale platform, you can easily search and visit these suppliers, and negotiate the wholesale price and shipping method that suits you. Having more options not only allows you to choose higher quality products but also helps you increase profitability.
What is the current status and prospects of B2B development?
Global B2B has developed the fastest in the United States. Taking the United States as an example, Forrester Research estimates that by 2023, the US B2B market sales will reach $1.8 trillion, accounting for 13%+ of the total B2B market sales. Compared with Forrester Research, Frost & Sullivan (international consulting company) has given a more optimistic forecast. It is expected that the US B2B market will reach $6.6 trillion by 2025. Despite the slow adoption of e-commerce by B2B companies, the success of Amazon Business and changes in the structure of B2B sellers are enticing more and more B2B brands to enter the e-commerce market to increase sales.
Why do wholesalers need B2B?
Wholesalers are usually located in markets that are not easily accessible. For example, if you are a small retailer located in the United States and the required suppliers are located in China, how would you contact these wholesalers? Of course, the answer is the online wholesale platform, which can help you reach thousands of distributors worldwide. These platforms enable you to find the suppliers you need, negotiate the wholesale prices you can accept, and get the products you need for your business in just a few mouse clicks. Greatly improve your work efficiency.
What are the top 10 benefits of B2B in wholesale?
Not limited by geographical scope, increasing the number of customers
Multi-channel sales, massive buyers and sellers;
Brand building is faster;
Credit system and user-sponsored credit evaluation system;
Automatic storage of transaction records and process information for easy query and information management;
Low-cost display of products and release of information;
Assess potential competitors;
Eliminate unnecessary expenses and make B2B more economical;
Real-time communication, negotiation and transaction;
24/7 accessibility service;
What are the functions of top B2B?
For wholesale companies, the B2B platform must be the best choice in some respects. Fortunately, the development and expansion of the B2B platform mean that the platform will become more and more usable. These are a few things to note when looking for a good wholesale platform:
Simple design: The layout of the platform should be simple and easy to follow, focusing more on functions, so too many flashy elements will hinder your work efficiency.
Multiple budget options: Different companies will have different procurement budgets, so wholesalers need to provide flexible, customized rates. Therefore, the wholesale platform should provide the function of setting different rates.
A wide variety of categories: It is important that retailers and wholesalers must be able to find the products they need, which is why the platform should provide a variety of product categories. In this way, potential customers will always find what they need.
Re-Order easily: As a wholesaler, you want your buyers to continue to order from you again. One way to ensure this is to make reordering a breeze-your buyer should be able to repeat the order just a few times.
Support for mobile devices: You don’t want to lose customers simply because they are not easy to place orders during operation. By ensuring that your customers can place orders through mobile devices (whether through dedicated apps or through mobile-friendly websites), you can ensure that you are always ready to win more sales.
Complete shopping cart experience: The platform or APP should provide complete shopping cart functionality, where customers can view, modify, and confirm their orders. This way, they can solve many problems before buying or contacting customer service.
What are the top 5 B2B platforms for wholesalers?
Alibaba
Alibaba is a well-known brand of global B2B and is currently the world's largest online trading market and business communication community. This wholesale platform from China has a huge user base and hosts various businesses. Good positioning, solid structure, and excellent service make Alibaba the preferred website for global merchant network promotion, and it is rated as "The Most Popular B2B Website" by merchants.
Amazon Business
Amazon Business is designed for B2B transactions between wholesalers and retailers and is a market for businesses of all sizes. From IT to cleaners, from office to restaurant supplies, from healthcare to hotels-Amazon's business is like this, you can find specific commercial products on it. Overall, you can also get price discounts for 5 million+ products, including volume discounts for multiple unit purchases.
Regarding the Amazon Business, it is important to remember that it has features and benefits that suit the needs of the enterprise. For example, if you create a free account, you will be able to browse a wide range of options, and these items may have special prices if purchased in bulk. You can even create a multi-user account that connects the entire team and creates a purchasing group that matches your organizational structure so that your team members can make purchases.
FashionTIY
FashionTIY is a multi-category supplier and the best online wholesale market. Committed to helping global small and medium-sized wholesalers and retailers achieve low-cost procurement. Unlike purchasing products on Amazon, AliExpress, Wish, and other platforms, FashionTIY implements self-operated, all 100,000+ products implement one-stop procurement, one-time payment, and one order delivery. For most wholesalers and retailers importers who are new to the cross-border procurement field or have insufficient procurement experience, this model effectively solves many troubles such as purchasing from different suppliers, multiple payments, scattered received, and difficulty in check.
The original intention of FashionTIY is to help small and medium-sized wholesalers and retailers achieve low-cost procurement. In fact, it has always done so. FashionTIY has signed factories direct sales agreement with 1000+ factories around the world, eliminating all intermediate links and the 100,000+ of products sold on the platform are all factory wholesale prices. Therefore, compared with other wholesale platforms, it has very high price competitiveness. For the same quality products, the price of FashionTIY can help wholesalers and retailers save 40% of the purchase cost on average. So, since its establishment, FashionTIY emerges the preferred supplier of 50,000+ small and medium-sized wholesalers and retailers, and it has been popular in the North American and European markets. This wholesale platform has emerged the most competitive one-stop procurement platform for SMEs on the Internet.
Flipkart
Flipkart is an e-commerce company headquartered in Bangalore, India, which is on par with Amazon in sales of electronic products and mobile phones. It is an e-commerce giant in the Indian market, has greater influence in semi-urban and rural areas of India, and has a good delivery network. Free and fast delivery; a wide range of products; offering lower wholesale prices, and often offering promotional activities and sale activities, which are popular with Indian wholesalers and retailers.
DHGate
DHgate is the world's leading online wholesale trading platform. DHgate is committed to helping Chinese small and medium-sized enterprises to enter the global market through cross-border e-commerce platforms, opening up a brand new international trade channel, making online transactions continuously easier, safer, and more efficient. The platform has suppliers and buyers from 200+ countries/regions, which facilitates wholesale transactions and small and medium manufacturers. It adopts a commission system, free of registration fees, and only charges fees after a successful transaction between the buyer and the seller. According to data from the Paypal trading platform, DHgate is the No.1 e-commerce website in the Asia Pacific and No.6 online trade transactions in the world.
Thank you for reading this article. I hope the above share can help you better understand and use the B2B platform to improve your business!
