Did you know that India is one of the fastest-growing ecommerce markets in the world? What’s even more interesting is that contrary to popular belief, the stupendous growth of ecommerce is not driven solely by B2C ecommerce. Instead, with its large order size and sheer volume, B2B ecommerce has taken the lead in this growth.
While the masses are busy shopping on popular multi-vendor portals like Amazon and Flipkart the traders, suppliers and distributors have found their own shopping hub on the Indian B2B online marketplaces.
While these traditionally brick-and-mortar businesses are still thinking of ways to go online, popular Indian B2B multi vendor marketplaces have revolutionized the way wholesale business was done a few years ago. These portals are offering better opportunities for wholesalers, distributors and suppliers to earn and reach new clients and markets.
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With B2B ecommerce adoption getting a major push during the pandemic, enterprise brands as well as sellers, manufacturers and distributors have opted for digital sales channels to grow their business.
Here is how the B2B ecommerce landscape is shaping up in India and how marketplaces are driving this growth.
- $90-$100 billion is the forecasted GMV of India’s B2B ecommerce market by 2030
- 5X GMV growth forecast for B2B marketplaces in India by 2027
- 7.2X faster growth of B2B online marketplaces over B2B ecommerce
- 50% of the non-users are likely to shift to B2B marketplaces by 2024
Source: Statista, Business Standard, Bain & Company, Accel
Increasing smartphone and internet penetration rate, the pandemic push, regulatory reforms and a positive push by the government have accelerated the B2B marketplace revolution in India.
Without further ado, let’s check the top B2B multi seller marketplaces that are driving the growth of Indian wholesale ecommerce in 2023 and beyond:
Designed to make B2B ecommerce easier for small and medium businesses, Udaan brings together over 1.5 Crore manufacturers, 2.3-3 crore retailers and 1.2 crore+ institutional businesses on its vast multi seller portal in India. Udaan also has 30 lahks registered users and sellers across 900+ cities in India.
Udaan’s B2B multi vendor marketplace directly connects buyers with manufacturers thus making the business processes faster and more efficient. Buyers and sellers can directly connect with each other and select buyers can also avail of credit facilities.
Founded in 1996, IndiaMART is the leading B2B multi vendor marketplace in India. Designed for individual sellers, SMEs as well as high-volume enterprise businesses, IndiaMART has been connecting buyers and sellers from all over India. Indiamart has over 16 Cr ( with a 40% traffic growth from pre-COVID days), 87 lakh+ suppliers along with 5 Cr+ products listed on the platform.
IndiaMART lists products and services across 56 different industries which includes construction, consumer durables, apparel, pharma-related products, chemicals etc.
Alibaba is the leading global b2b online portal which connects suppliers, exporters, importers and importers of India with global businesses. Alibaba allows Indian buyers to procure from global wholesalers and similarly Indian sellers can sell their products anywhere across the globe.
However, one major drawback of Alibaba is that you can only place bulk orders and there is no minimum purchase quantity. Alibaba has more than 230 million active buyers and millions of sellers on its B2B online marketplace. The Alibaba B2B marketplace website receives 400000+ enquiries each day from active buyers across the globe.
Tradeindia is another Indian B2B multi seller portal for small businesses based in India as well as in global markets. TradeIndia offers wholesale sellers a common platform to sell their products and services.
TradeIndia B2B online marketplace has a growing database of 5 million+ registered users and close to 4 million sellers and buyers. TradeIndia has 12000+ categories and subcategories of products and services. Brand TradeIndia is reputed for offering the best services to global as well as Indian businesses through its B2B multi vendor marketplace.
As the name suggests this B2B multi-seller portal helps Indian manufacturers and sellers to sell their products in India or in foreign markets. ExportersIndia offers free sign-up for sellers and buyers and offers a new business channel for businesses looking to expand their reach. Founded in 1997, it has come a long way in helping Indian businesses benefit by selling online.
ExportersIndia has more than 14 lakh clients and allows sellers with free registration to upload up to 400 products.
The B2B landscape is set on a growth trajectory that shows no signs of slowing. Together these B2B online marketplaces have not only given a platform to Indian buyers, sellers, manufacturers and retailers but have also played a crucial role in accelerating the growth of Indian ecommerce.
Ready to claim your share in the global B2B ecommerce boom? Want to take the next big step and go online with your own multi seller portal that can bring together millions of sellers and buyers? Wondering how to get started?
StoreHippo has you covered!
We bring the best and most comprehensive B2B ecommerce solutions to build a variety of business-to-business ecommerce portals including a marketplace. StoreHippo helps you build secure, scalable and easily customizable business-to-business websites.
Built on MACH ( Microservices, API-first, Cloud-native, Headless) architecture, storehippo gives B2B brands the flexibility and creative control to build their tailor-made ecommerce solutions. The decoupled headless architecture makes it possible for you to tweak the backend as well as the front end of your B2B marketplace. You can also go omnichannel by quickly adding new front ends using the same backend logic and APIs. With modern buyers expecting their brand to be available on multiple sales channels, this feature goes a long way in boosting your B2B online marketplace’s visibility and traffic.
You can implement features like minimum order quantity (MOQ), request a quote (RFQ), wholesale and retail pricing, location-based pricing etc. Along with these, you get a variety of inbuilt and customizable forms, customized invoicing, powerful tax engine to implement any type of taxation. StoreHippo B2B ecommerce solutions are GST compliant and resolve all your tax worries.
StoreHippo also offers 60+ payment gateways ( pre-integrated) for managing the different levels of payments to your vendors, distributors and clients. You can also use the built-in credit wallet feature to further streamline payments on your B2B marketplace. You can also integrate with custom ERP to offer streamlined revenue management. On top of this, you can even white-label your business using StoreHippo’s B2B ecommerce solutions
Another unique advantage of StoreHippo is that our mobile ready solution not only takes care of launching your business online but also helps you tap m-commerce. With over 70% B2B searches beginning on a mobile device, you certainly don't want to miss this opportunity. You can build your Android and iOS B2B marketplace apps without spending anything additional. Also, all stores built on StoreHippo are PWAs and work seamlessly even on entry level devices and poor internet connectivity.
StoreHippo not only offers customer-facing mobile apps but also gives you admin mobile apps for the teams in your organization and your vendors. We also offer a delivery boy app which can be used by your vendors to manage their own fleet of delivery agents.
StoreHippo also offers 30+ pre-integrated logistics solutions to help your sellers better service clients and streamline order delivery.
So let’s get started with the simple process of building your multi vendor portal with StoreHippo B2B ecommerce solutions :
Step 1: Think through the business model and core business idea you want to implement
Step 2: Get your paperwork done, i.e; decide your business’s name and get it registered, complete all clearances, approvals or permits
Step 3: Choose a domain name for your business and buy the domain
Step 4: Choose the most suitable StoreHippo plan for your business and pay for the subscription
Step 5: Choose your desired theme and customize it as per your brand’s requirements
Step 6: Set up your vendor registration page, integrate with payment gateways and logistics providers
Step 7: Onboard sellers, distributors, suppliers and manufacturers on your B2B online marketplace and ask them to list their products and services
Step 8: Set up a team of support staff to help your merchants do business
Step 9: Create a marketing campaign on various social media channels and offline channels to inform businesses about your venture
Step 10: Test your site and go live!
That’s it! Yes, with StoreHippo B2B ecommerce solutions it is this simple and quick to get started with your own B2B multi seller online store.
So, all set to start replicating the success of the top Indian B2B online marketplaces? Need cutting-edge B2B ecommerce solutions to power your marketplace website business?
StoreHippo has experience in building future-read B2B marketplaces across industry verticals. The fully-hosted and managed B2B ecommerce solutions from storeHippo have been used by enterprise wholesale businesses to build successful B2B multi seller websites and apps.
Want to explore StoreHippo B2B ecommerce solutions further? Take a tour of our amazing 300+ features and inbuilt tools that will not only help you build your marketplace but would also let you grow your business in domestic and international markets. So, what’s the wait for? Book your free demo right away!
A B2B online marketplace is a digital marketplace where multiple vendors come together on a common platform to sell good or services to other businesses. The transactions on a B2B multi seller website are usually done in bulk quantity and hence have a bigger ticket size than B2C transactions.
By building a B2b marketplace website for your wholesale business you can introduce automation and efficiency in your business. Your business process can be standardized and modernized and you can have central control, transparency and a better view of your business.
Building a B2B marketplace also helps you reach new markets and customers, reduces your overall costs and helps you onboard the best vendors across industries.
The top two revenue sources of a B2B online marketplace are commissions on each order sold on the platform and subscriptions from vendors and clients. You can also have other revenue sources like partnerships with associated service providers like banks and payment gateways, revenue from ads within your website, prime positioning of the vendors or their products, diversification to other sales channels using the same vendors etc.
Depending on your requirements and the type of B2B ecommerce solution ( build from scratch or turnkey B2B ecommerce platform) you choose, building a B2B online marketplace can take from a few weeks to a few years.
If you opt for building your marketplace from scratch the iterative development cycle can easily range from 12 months to 24 months. Alternatively, if you go with a battle-tested marketplace software you can launch your multi seller portal by tweaking the existing solution for your unique needs within a few weeks.
Building a B2b online marketplace from scratch may cost anywhere from $10,000 to $50,000 depending on your unique requirements and the expertise of the IT team you have. Alternatively, you can go with a SaaS-based fully hosted and managed solution and build your multi seller B2B portal for $500-$1000.
If you have to go for doing coding from scratch, building your B2B marketplace app can cost almost the same or very close to building the website, ie, in the range of $10,000 to $50,000. However, there can be additional costs for maintenance and upgrades.
Alternatively, with a mobile-first B2B ecommerce solution provider you can use the same code and backend logic to build your hybrid marketplace app at no additional cost or coding. StoreHippo does offer hybrid Android and iOS apps for enterprise B2B marketplaces. You will not need to pay any additional cost on top of your subscription charges to build your B2b marketplace app with StoreHippo.
To make your online B2B marketplace successful you will have to offer value and benefits to both your sellers and customers. To make your marketplace brand popular among sellers you can offer a cutting-edge digital sales channel, easy compliance, access to a vast customer pool, easy-to-use solutions to manage their business, and additional services like marketing support and logistics.
For your buyers you can create a seamless buying experience on your B2B online marketplace and app, offer easy site navigation, vendor comparison, easy self-service options, a variety of forms and automated query solutions, multiple payment options, personalized offerings, frictionless checkout using multiple payment options and streamlined and quick logistics.