What is a B2B Marketplace?
B2B Marketplace is an economic marketplace where there are more than one buyer and more than one seller offering products or services and competing over price, promotion, place and product for economic advantage.
It is different from traditional B2C, where one seller engages in economic activities to sell products to multiple buyers. B2B ideally is a marketplace where multiple sellers are offering products or services to multiple customers or buyers.
Examples of B2B marketplaces:-
Alibaba – Launched in 1999, this Chinese-company serves millions of buyers and suppliers globally.
ThomasNet – Leading online platform for B2B seller discovery and product sourcing with over 500,000 suppliers on its platform.
IndiaMart – India’s largest B2B marketplace with over 3.5 buyers and a selling model similar to Alibaba.
eWorldTrade – This US-based platform is the world’s fastest growing B2B portal and services more than 220 countries.
TradeIndia – India’s second largest marketplace with over 3 million registered users.
EC21 – Established in Korea and operates three different marketplaces for China, Korea, and globally. It has over 2 million members, 7 million products, and 3.5 million buyers.
DHGate – Online marketplace for wholesale consumer products with about 1.2 million sellers globally and 10 million buyers.
Amazon Business – Specific B2B portal for Professional Sellers to reach business customers on Amazon.
FGM Vendors – Online wholesale marketplaces that operates like an online tradeshow.
Wholesale Central – Largest wholesale directory of active wholesalers and wholesale products since 1996.
Joor – Largest wholesale marketplace for fashion with 155,000 retailers and 1,500 brands,
Field Engineer – An example of a niche B2B marketplace that solely focuses on helping business find and hire Telecom engineers.
Global Sources – A B2B media company that is a primary facilitator of trade with Greater China using English-language media. They have more than 1.5 million international buyers.
Marketplaces in B2B domain have gained more popularity over the years for easy to source, reliable and advanced technological methods used that benefit business buyers, procurement and sourcing companies, procurement managers and so on.
Marketplaces can be used to target global customers like Amazon and Alibaba or focus more on particular Niche segments e.g. Voices that helps you search voice over artists or ClickFQ that helps you search your ideal software.
Benefits of B2B Marketplace:-
B2B Marketplace is not just any online store, here you can have many multiple ideas for revenue generation like lead generation, landing pages, facilitating transactions, escrow services and many more options that can help buyers and sellers perform economic activities multiple times.
B2B marketplaces may not sell directly to customers, they can definitely sell directly to customers like Amazon, however they can also just provide a medium to generate leads like Indiamart. If you are planning to start online B2B marketplace business on FQZEE, it is important to understand your core offering that you are providing to you customer, is it lead generation system, or making it easier for your buyers to interact with sellers?
Some major benefits of B2B Marketplace:-
Bulk order system
RFQ (Request for Quote)
Purchase order acceptance
Unique pricing and quantity discount
B2B friendly payment terms
Easy scaling - reach global audience
Manage permission levels
Subscription system and membership levels
Easy integration - CRM
Flexible / Customisation
How to start your own B2B Marketplace?
Start your own B2B Marketplace and make money online with FQZEE marketplace for FREE. Contact us by visiting www.fqzee.com and signup to get started. Our sales team will contact you within 48 hours to understand your business idea and allow you to use FQZEE system based on your preferred pricing plan (Starts FREE).