What is B2B Marketplace?

Before going in depths of what is a B2B marketplace, how is it beneficial for you or your business and where to find the right marketplace, let us get clear about some basics.

First things first, what is meant by business-to-business trade?

Any form of transaction between two or more businesses for a huge quantity of goods or services falls under the category of business-to-business transactions. It is a type of business that takes place between two separate organizations, companies, or business establishments. B-to-B transactions are usually conducted in bulk quantity, with one company or business buying a large quantity of goods or services from another company or business. These transactions are worth a huge amount of money too. The amount of money per transaction in this form of trade is multifold of the amount involved in the case of retail transactions.

Now, what do we mean by marketplace?

It is a place where buyers and sellers come to buy and sell various goods and services. In the digital world, it can also be a platform where buyers and sellers come together to trade goods and services. There are many forms of business marketplace such as physical market, seasonal market, occasional market, digital market, and many more.

So, what is a B2B marketplace?

We know what B-to-B business is, and we know what a marketplace is, B-to-B marketplace is cumulative of both. It is a place or platform where bulk trade, that is B-to-B trade, of goods and services take place. In this era of internet where everything is available online, B-to-Business marketplace is no exception. Along with physical markets, we also have many portals for online B2B marketplace. They trade a variety of goods and services between multiple buyers and sellers every day.

Like any other places of trade, this is also made of two entities- buyers and sellers. In the case of Business2Business trade, the company, organization, or business that sells their products or services are termed as B2B supplier. The term “supplier” is used for sellers because they are the ones to supply goods in market, the ones who are responsible for the supply in the market. They are mostly manufacturers, large and small distributers, and wholesalers. The other entity, that is the company, organization, or business, that buys the products or services from one or many B2B supplier are known as Business2Business buyer. A buyer buys bulk quantities of products while trade huge amount of money too. They include retailers along with the bulk businesses.

Why should one choose a Business2Business marketplace? What is there to gain?

Let’s consider from the viewpoint of a supplier. A business that wants to sell their bulk products are benefitted from a Business2Business portal (physical and digital both) in following ways:

1. Exposure: A platform increases the exposure of business as the number of buyers available in B2B portal is comparatively larger than that of direct contacts.
2. New revenue streams: As you reach new customers, new streams of revenue open for you.
3. Wider reach: In case of digital portals, your business reaches new locations without you having to establish a new unit in that place. This increases your sales without the cost of real estate, staff, equipment, production etc. that would incur if you were to open a physical unit. Hence the profit is higher.
4. Platform Marketing: Every B2Business market platform advertise their platform and the suppliers to increase their sales. This benefits the suppliers directly as higher the number of people visiting, higher the sales.
5. Social Proof: It is a great way to get reviews and ratings online. This increases the credibility of business. Most people prefer to deal with businesses that have good reviews.

Now, let us consider the buyers’ perspective. A business that wants to buy quantity of products get following benefits from a Business2Business marketplace (physical and digital both):

1. Easy to find new suppliers: Its very easy to find new suppliers when you are in a market or portal full of suppliers. They are available on your phone screen in digital B2B portal.
2. Wide range of variety: For each kind of product, a huge range of variety is available. If one supplier doesn’t have it, other will have.
3. Best prices: A buyer has access to the prices offered by different vendors. This gives a chance to find the best suited price for desired products.
4. Reliability: In case of online Business-to-Business markets, suppliers are rated and reviewed by people and businesses that have traded with them earlier. This provides proof of their quality of business and goods they are selling.

How Do You Choose the Right Business-to-Business Marketplace for Your Business?

To find best B2B marketplace to buy or sell anything in India, you need to determine what category of products you are selling or buying. After that, make a list of trade portals that are experts in your required sector. Last step is to check ratings and reviews after understanding the platform. A portal that is expert in your industry, has products of your range and choice, has a user-friendly interface, a huge customer base (existing or growing) and have good reviews is ideal for your business.

Of course, there are many such portals and websites, but Rolloverstock directly connects manufacturers and buyers. By doing this, it provides you the widest range at the best prices. If you are looking for ideal B2B marketplace in India, look no further because Rolloverstock is your answer.