Over the past few years, the B2B marketplace is catching on to the digital trend by placing itself to be the main storefront. Although retail space has quickly picked up an e-commerce business, the B2B food marketplace is gradually following their footsteps. When it comes to innovation, there is so much scope for B2B marketplaces to thrive. An increasing number of B2B businesses (manufacturers, distributors, wholesalers, etc) have uncovered that the digital marketplace business model is crucial for their expansion.
There is cutthroat competition with all the business owners shifting towards digital platforms, businesses are in a dire need of someone who can narrow the gap with distributors, negotiate commercials, and place orders.
DECODING B2B MARKETPLACE
B2B marketplaces is an online marketplace trading of products and services between businesses. They provide a platform over which manufacturers, distributors, and suppliers deal with buying and selling of raw materials, end products, or services. They simplify everything related to purchasing.
Typically there are 3 principal actors in a B2B marketplace: Buyer, seller, and marketplace owners. All the actor’s leverage on benefits such as greater market reach cost savings and streamlined workflows.
WHY THE NEED TO GO DIGITAL?