How b2b marketplaces are benefiting buyers and suppliers

What marketplace is?
It`s a business trade or a market that provides the opportunity to the suppliers and sellers to promote their products or services to relative clients. It`s a place where buyers and sellers communicate, sell and buy. It`s not just a profitable step for them, but also for the country because it is also used for the trade with other developed countries.

TYPES 
There are two categories of a marketplace

  1. Global website
  2. Regional website 

EXAMPLE
Many global virtual marketplaces started outsourcing in china and then expanded worldwide. If we discuss about China here, China is the most important exporter and player on the world trade scene.

TOP 10 BUYERS COUNTRIES:

  1. USA
  2. China
  3. India
  4. Australia
  5. UK
  6. Canada
  7. Malaysia
  8. UAE
  9. Germany
  10. Singapore 

TOP 10 TRADE/BUSINESS CATEGORIES

  1. Fashion accessories
  2. Machinery and industrial products
  3. Furniture and home décor
  4. Handicrafts, handmade accessories
  5. Spare parts and automobile
  6. Electronics
  7. Chemicals and fertilizers
  8. Agro and food products
  9. Pharmaceuticals, medical products
  10. Gems and jewelry 

BENEFITS:
Although this concept of b2b exchange is not entirely new, a number of companies are doing it from a couple of years. Buyers and suppliers use different search engines to find the products or trade partners as well. Worldwide trade is easy for the buyers to find suppliers. The deal is done in bulks so that the purchasing minimizes.

CHANNELS THAT ARE USED T O HELP FIND THE INFORMATION

1 Web searches 71%
2 Word of mouth 56%
3 Community sites 12%
4 linkedin 10%
5 Facebook 5%
6 Twitter 3%
7 Others 1%

Internet has become biggest source of doing business. One sell online, pay online and buy online, so therefore social media is the biggest B2b marketplace especially because of the feedback part. If there are a lot of benefits of doing business online there are some of the negative parts in this as well, such as when customers feel and touch a product and buy it with their hand they are more confident and sure about its quality as compare to online buying it.

Brand loyalty is much higher than in consumer goods market when it comes to the marketplace. It is a long-term relationship between the buyers and the sellers if the element of trust is once developed. The sellers attract the consumers through the advertisements, making the advertisements attractive. The b2b marketplaces are benefiting the sellers and the buyers at the same time. The burden is now decreased due to this kind of business. The only thing a seller needs to do is building the trust within his audience and consumers because the consumers cannot trust a drink immediately if they won`t try it.

Written by Sawdagger.com

Sawdagger.com

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