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Ecommerce Insights - 2

Why wholesale brands should consider building their B2B Marketplace

93% of B2B buyers shop online on B2B marketplaces or websites after researching and finalizing their products. More and more buyers prefer the self-service digital buying experience over shopping through agents. Building an online B2B marketplace helps wholesale brands modernize their business and manage their seller and distributor networks better. A well-managed B2B marketplace also automates the sales processes and shortens the sales cycle significantly. 56% of wholesale businesses confirm that giving profitable service is possible  only through the online channel.

Top 5 Global B2B Marketplace

  • Alibaba - Alibaba grossed $109.48B as annual revenue for 2021, a 52.09% increase from 2020. Alibaba earned approximately $134.6 billion in the financial year 2022

  • Amazon Business - Amazon Business was expected to reach $27.59 billion in total sales by 2021 a  43.5% increase over 2020

  • Global Sources - With annual revenue of $677 Million in 2021, this online marketplace is among the best global b2b marketplaces

  • eWorldTrade - The leading B2B marketplace has over 1 million traders listed and has gone mobile to engage buyers and sellers better.  It has an annual revenue of $30 million

  • IndiaMART - In 2021, the online B2B ecommerce marketplace IndiaMART generated revenues of 6.7 billion INR from its selling operations

Source: Statista, eMarketer, RocketReach

Global B2B Marketplace Growth Trends

  • The B2B ecommerce market is projected to reach a value of $20.9 trillion by 2027

  • B2B ecommerce is expected to register a CAGR of 17.5% during the forecast period 2022-2027

  • $31.19 billion is the estimated GMV of B2B online marketplace worldwide

  • 75% of B2B procurement spending is expected to take place on online marketplaces within the next five years

  • 26 % of B2B buyers made 50% to 74% of their purchases on B2B marketplaces in 2021

Source: Statista