Omnichannel IS:
A commitment to delivering a seamless, compelling and personalized shopper experience, regardless of where or how your customer is engaged with you
Your cognitive future in retail industryTero Angeria
Cognitive + retail = the future
Welcome to the age of cognitive computing, where intelligent machines simulate human brain capabilities to help solve society’s most vexing problems. For retail,cognitive computing has already arrived, and its potential to transform the industry is enormous. Cognitive systems are driving more personalized
shopping experiences and helping unearth customer trends. Our research reveals that retail leaders globally are poised to embrace this groundbreaking technology more holistically and, by doing so, will redefine the future in retail.
Omnichannel IS:
A commitment to delivering a seamless, compelling and personalized shopper experience, regardless of where or how your customer is engaged with you
Your cognitive future in retail industryTero Angeria
Cognitive + retail = the future
Welcome to the age of cognitive computing, where intelligent machines simulate human brain capabilities to help solve society’s most vexing problems. For retail,cognitive computing has already arrived, and its potential to transform the industry is enormous. Cognitive systems are driving more personalized
shopping experiences and helping unearth customer trends. Our research reveals that retail leaders globally are poised to embrace this groundbreaking technology more holistically and, by doing so, will redefine the future in retail.
2016 IBM Retail Industry Solutions GuideTero Angeria
IBM offers everything retailers need to transform—roadmap
development, solutions, infrastructure, research sciences,
consulting and interactive user experience design—based on
what consumers are demanding. We help retailers deepen
customer relationships and offer differentiated assortment
while driving operational excellence enterprisewide to spur
profitable growth.
This guide showcases IBM solutions for retail. It provides a quick overview of what retailers need to do within each of these areas and of the IBM solutions that can support those efforts.
10 Digital Commerce Trends from the Fashion and Apparel, 2020 ReportAlaina Carter
COVID-19 made this season quite unfashionable as, just like other industries, the fashion industry also faced the consequences of this pandemic. Thanks to digital transformation, the fashion and apparel industry has a fair chance to bounce back. Read more to know what are the 10 Digital commerce trends from the fashion and clothing, 2020 report.
Many B2B companies pride themselves on building personal relationships
with their customers. But as one global leader in specialized environmental
services has discovered, relationship building in the B2B space is shifting rapidly.
It’s time to start developing a robust e-commerce marketing strategy to sustain in this rapidly growing e-commerce landscape. As a matter of fact, this huge market attracts different kind of brands which will make the competition tougher.
RSR ebook: Retail ecommerce in context: the next iterationLeigh Doyle
After years of steady ecommerce growth, there has been an unprecedented acceleration of the shift from physical stores to online shopping. Retailers are facing the limitations of their aging technology stack in allowing them to offer buy online pick up in store (BOPIS), social commerce, adding new payment methods, launching subscription programs and more. This study aims to understand how well retailers have been able to pivot to a digital-first world, the challenges they face, the opportunities nascent in the marketplace, and how their technology portfolios are able to support these shifts profitably.
Ecommerce Business And Financial Model PowerPoint Presentation Slides SlideTeam
Presenting this set of slides with name - Ecommerce Business And Financial Model Powerpoint Presentation Slides. This PPT deck displays fourty slides with in depth research. Our topic oriented Ecommerce Business And Financial Model Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyse the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. Outline all the important aspects without any hassle. It showcases of all kind of editable templates infographs for an inclusive and comprehensive Ecommerce Business And Financial Model Powerpoint Presentation Slides presentation. Professionals, managers, individual and team involved in any company organization from any field can use them as per requirement.
IBM Omnichannel Commerce Solutions OverviewLightwell
Learn about changing consumer expectations and market demands, how the IBM Commerce solutions help, and they key advantages and capabilities of the IBM platform for ecommerce and order management.
A beginners guide to ecommerce in fashion retail. This aims to highlight the key areas that must be considered when designing, building and marketing an ecommerce website.
The Number One Digital Challenge Facing B2B TodayImran Choudhary
IBM recently hosted an open round table in London to discuss the temperament and disruptors in UK B2B Commerce with a number of key industry influencers and subject matter experts.
We explored the challenges faced, but equally the opportunities
and notable success stories.
Our discussion centred on what the #1 Digital Challenge Facing B2B is today, and what opportunities this may present to the new digital seller.
We also explored the importance of the user experience and the supporting infrastructure, as well as managing organisational and cultural change in the implementation of a new digital B2B strategy.
It comes as no surprise that the dialogue of the session very quickly expanded into the role of multi–Channel campaigns, technology, people, culture, and business change.
These facets where explored in great detail and we have summarised the highlights and key insights in this report.
2016 IBM Retail Industry Solutions GuideTero Angeria
IBM offers everything retailers need to transform—roadmap
development, solutions, infrastructure, research sciences,
consulting and interactive user experience design—based on
what consumers are demanding. We help retailers deepen
customer relationships and offer differentiated assortment
while driving operational excellence enterprisewide to spur
profitable growth.
This guide showcases IBM solutions for retail. It provides a quick overview of what retailers need to do within each of these areas and of the IBM solutions that can support those efforts.
10 Digital Commerce Trends from the Fashion and Apparel, 2020 ReportAlaina Carter
COVID-19 made this season quite unfashionable as, just like other industries, the fashion industry also faced the consequences of this pandemic. Thanks to digital transformation, the fashion and apparel industry has a fair chance to bounce back. Read more to know what are the 10 Digital commerce trends from the fashion and clothing, 2020 report.
Many B2B companies pride themselves on building personal relationships
with their customers. But as one global leader in specialized environmental
services has discovered, relationship building in the B2B space is shifting rapidly.
It’s time to start developing a robust e-commerce marketing strategy to sustain in this rapidly growing e-commerce landscape. As a matter of fact, this huge market attracts different kind of brands which will make the competition tougher.
RSR ebook: Retail ecommerce in context: the next iterationLeigh Doyle
After years of steady ecommerce growth, there has been an unprecedented acceleration of the shift from physical stores to online shopping. Retailers are facing the limitations of their aging technology stack in allowing them to offer buy online pick up in store (BOPIS), social commerce, adding new payment methods, launching subscription programs and more. This study aims to understand how well retailers have been able to pivot to a digital-first world, the challenges they face, the opportunities nascent in the marketplace, and how their technology portfolios are able to support these shifts profitably.
Ecommerce Business And Financial Model PowerPoint Presentation Slides SlideTeam
Presenting this set of slides with name - Ecommerce Business And Financial Model Powerpoint Presentation Slides. This PPT deck displays fourty slides with in depth research. Our topic oriented Ecommerce Business And Financial Model Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyse the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. Outline all the important aspects without any hassle. It showcases of all kind of editable templates infographs for an inclusive and comprehensive Ecommerce Business And Financial Model Powerpoint Presentation Slides presentation. Professionals, managers, individual and team involved in any company organization from any field can use them as per requirement.
IBM Omnichannel Commerce Solutions OverviewLightwell
Learn about changing consumer expectations and market demands, how the IBM Commerce solutions help, and they key advantages and capabilities of the IBM platform for ecommerce and order management.
A beginners guide to ecommerce in fashion retail. This aims to highlight the key areas that must be considered when designing, building and marketing an ecommerce website.
The Number One Digital Challenge Facing B2B TodayImran Choudhary
IBM recently hosted an open round table in London to discuss the temperament and disruptors in UK B2B Commerce with a number of key industry influencers and subject matter experts.
We explored the challenges faced, but equally the opportunities
and notable success stories.
Our discussion centred on what the #1 Digital Challenge Facing B2B is today, and what opportunities this may present to the new digital seller.
We also explored the importance of the user experience and the supporting infrastructure, as well as managing organisational and cultural change in the implementation of a new digital B2B strategy.
It comes as no surprise that the dialogue of the session very quickly expanded into the role of multi–Channel campaigns, technology, people, culture, and business change.
These facets where explored in great detail and we have summarised the highlights and key insights in this report.
Changing Business Models: The Shift to B2B2C and D2C SalesAshish Saxena
Times are changing, and business models are no longer limited to only B2B or B2C. We are seeing a slow
change to alternative models such as B2B2C (business-to-business-to-consumer), D2C (direct-to-consumer)
or B2E (business-to-employee) in order to better meet more specific end-consumer needs.
In this white paper, we’re delving into the trends impacting this shift away from traditional business models in
the e-commerce landscape. We’re also sharing a useful step-by-step guide on how to implement a successful
D2C strategy.
some information on Discussion an example for your experience about any company conductive e-commerce? you can include any necessary chats, groups, etc. which were harmful or helpful to your experience.
IBM Private Digital Commerce (former Online Commerce): conductins business on...Farid Djaouani
About twenty years ago, IBM embarked upon a transformation process that would ultimately reenergize our brand and our business. That transformation began when the company made the critical decision to refocus the entire organization – every function, every product, every investment -- around a single design point: our clients.
Conducting business with clients according to their terms is a
central tenet of Smarter Commerce. And so is driving the
effi ciency of every client relationship. That’s why IBM’s online
commerce transformation, which is still ongoing, is such a
critical part of the company’s Smarter Commerce initiative. The
changes the company made during the last fi ve years were
driven entirely by client demands. And though these demands
required signifi cant investment on the part of IBM, the benefi ts
have accrued to both our clients and us.
Making Demand Generation work in the Construction industryLedger Bennett DGA
In the UK today, around 93% of builders are recognised as heavy Internet users, and 70% of them buy products online. Likewise, construction industry customers are increasingly engaging in social media as a source of information, and more importantly, recommendation.
Without strong relationships with your merchant base, it's unlikely that you're getting your marketing messages through to the people paying money for products. This is particularly problematic within the construction industry, as the products tradesmen use are a direct reflection of their workmanship, which they value above most other things. When customer satisfaction is fundamental to word-of-mouth recommendation, they need to know and trust the products and brands they’re using. You can make this happen.
'Making Demand Generation work in the Construction industry' is a helpful guide that looks to connect brand owners, merchants and their customers using realistic Demand Generation strategies that professionals can leverage to their advantage.
Customers Are Channel Neutral: The truth about multi-channel marketingDavid Harkins
Originally written in 2003 as a prediction for what would come to be known as "Omni-Channel marketing."
______
From 2003:
The term "multi-channel marketing" refers to the process of building a customer relationship across two or more marketing or sales channels.The channels are those that are interactive,such as face-to-face,telephone,email,Internet,or perhaps direct mail.These channels provide an organization the opportunity to develop and maintain the brand promise as the customer engages the organization at each point of contact.
Latest Ecommerce Trends to Watch Out For 2023.pdfAdityaJani15
Regardless of your business model, eCommerce systems are critical to any online operation (whether B2B or B2C). It gives your company a platform to share and sell things to a wide range of potential clients online. However, with so many eCommerce platforms on the market, selecting the best one appears to be difficult. The eCommerce business shows no indications of slowing down in the near future.
B2B Digital Marketing Playbook for the COVID EraRohas Nagpal
Customers have changed.
Spending patterns have changed.
People's priorities have changed.
How people spend their time has changed.
So naturally, marketing techniques
NEED TO CHANGE.
The "B2B Digital Marketing Playbook for the COVID Era" recommends an 11-point approach:
1. Understand what you are selling
2. Understand whom you are selling to
3. Design your digital marketing strategy
4. Optimize your website
5. Incentivize influencers
6. Optimize your digital marketing assets
7. Distribute your digital marketing assets
8. Make it easy for potential customers to contact you
9. Aim for a 60-second response time
10. Use dynamic QR codes
11. Use Artificial Intelligence
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
E-commerce (also written as e-Commerce, eCommerce or similar variants), short for
electronic commerce, is trading in products or services using computer networks, such
as the Internet. Electronic commerce draws on technologies such as mobile commerce,
electronic funds transfer, supply chain management, Internet marketing, online
transaction processing, electronic data interchange (EDI), inventory management
systems, and automated data collection systems. Modern electronic commerce
typically uses the World Wide Web for at least one part of the transaction's life cycle,
although it may also use other technologies such as e-mail.
Similar to Multilayer b2 b channels in FMCG industry (20)
An auspicious day today , it speaks on the Glory of the Teacher and what leads to the evolution of a good Student .Created by the Vedanta Insititute ,Kolkata
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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1. Multilayer B2B Channels in FMCG Industry
Identifying Channels
-Factory
-Office
-Hotels
-Restaurants
-Caterers
-Office
-Railways
-Colleges
-Airlines
Assessing Demand
-Number of heads
-Consumption per head
In case of service industry like hospitals it will be a combination of staff ,
patients , visitors
Identify Purchase Procedure
2. -Tendering
-Enlistment
Identifying Decision Making Person
Questions to be asked to DMU
-Methodology of purchase
-Whether FMCG product of interest is purchased there
-Quantity and Quality of product consumed
-Rate at which pursued
-Delivery method , frequency and profile of supplier partner
-Whether open to new supplier
Setting up the Supply Chain
-Direct Purchase
-Through Distributor
-Through B2B Ecommerce
Feedback
-Quality
-Timely delivery
-Rates
3. Repeat Orders
B2B e-Commerce is short for business-to-businesse-Commerce,which
is defined as the sales of goods or services betweenbusinesses via online
channels. ... A good example which should be mentioned is even giant like
Amazon is now expanding into B2B e-Commerce,and it could grow faster
than the retail unit.
A Heinz and SnapApp study found:
● Millennial buyers are far more independent than Generation X or
baby boomer buyers during their path to purchase: They conduct
extensive research on their own before making any purchasing
decisions.
● While Generation X and baby boomer buyers rely on
salespeople for guidance, millennial buyers are more likely to
rely on the opinions of peers or outside experts than to trust a
salesperson: They actively avoid engaging with sales early on;
nearly 60 percent say they don’t engage with a salesperson until
they’re in the middle of a purchasing decision.
These buying behaviors mimic B2C buying behaviors in which brands
must educate, build trust and build community before a purchasing
decision is made – or even considered.
4. If you want your brand to show up in those buying committees, you
must have an online presence.
One of the best ways to make sure a customer doesn’t go to a
competitor is by building a long-term, personal relationship with them.
This is why so many B2B businesses are family-owned and operated.
There’s a personal touch to being one of the family: phone calls,
dinners, visits and trips.
An online store can seem cold in comparison, but it doesn’t have to
be.
And, especially now that Millennials are at the forefront of many B2B
buying decisions, buyers are looking for a streamlined digital
purchasing experience.
In a Demand Gen Report, 55% said, when all other factors are equal
(e.g., price, quality), “a digital buying experience is extremely
important to selecting a vendor.”
With 24/7 chat technology that can turn an online chat on your store
into a text on your phone, the new generation can communicate
efficiently and effectively in their preferred communication channel:
text, Facebook messenger or a variety of other options.
5. In fact, this type of customer service is not only easy to set up, it is
highly desired by customers across the board.
A study by McKinsey & Company found that slow site response times
are a B2B buyer’s biggest complaint with online ordering.
Increasing your speed to respond to a customer is today’s version of
quality, face-to-face interactions. Ignore it, and you’ll lose business.
6. Benefits to B2B Ecommerce sellers :
-More sales with less outreach and research work
7. -Increased visibility if SEO done well
-Scalability & Expansion -Enter new categories and geographies using
a single source of truth
-Possibilities to create a customized customer experience for positive
customer outcome
The global B2B Market size was 1.2 trillion dollar in 2018
Challenges to be kept in mind for B2B E-Commerce success :
-Opportunity to educate the buyer on products , features and
promotions . Educate , develop trust and close the deal
8. -B2B Millennial buyers prefer outreach over social media and
messenger apps
-Communicate early and often in the brick and mortar space
Have FAQs / How To Guides / Interactive Navigation
Knobs.co is a classic website on this
-Avoid technological errors as mistakes happen over large quantities ,
so integrate the same with your ERP
The ERP + B2B Secret Sauce (APIs):
“We use a proprietary ERP that sits on top of an IBM I-
Series I-Mainframe, and we were able to get an integration built so that we
can better leverage our data across systems.
One way we do this is in regard to customer service. We can pass cart details
over to our ERP, and if a customer calls our customer service line and
references their PO number, we can locate the record right away.
9. Being able to push things from our ERP into our BigCommerce store also
allows us to help customers see things like their credit limits, balances, and
past due balances. It’s empowering to our customers to have that data.”
– Chris Hiller, Vice President of Digital Strategy, Berlin Packaging.
-Rollout programs that focus on Loyalty , Repeat Purchase and Frequent
Purchase
In certain cases revenue model can be both subscription based and one-time
payment based
-Reorganize for both organizational change and legacy systems change
-Role conflict … the B2B Salesperson can become increasingly redundant
and frontliners main role would be subsequently attending to only
The top B2B E-Commerce Companies :
1. GE.
2. Avery Dennison.
3. H&D Supply.
10. 4. Dupont.
5. Clarion Safety.
6. Assurant.
7. Berlin Packaging.
8. Ingredion.
Problems in B2B Ecommerce
Challenges faced in B2B eCommerce & How
To Overcome Them
1. Real life demonstration of products is not possible
11. When buyers are purchasing products online, they have a hard time deciding how the
product will look in real life, whether their customers will like it or not; with individual
customers, they face questions about whether it will serve their purpose or not, etc.
So to clear this dilemma of ‘to buy or not to buy’ here are some steps you could take:
● Upload realistic pictures of products on the website. Try using natural light
with white backgrounds for photos. Provide a 360-degree view of the product in
which all the angles of the product are shown.
● Write a complete description of the product on the website. Don’t make any false
claims regarding the products, because it will lead to disappointed customers. So
do good research about the products and mention the features which the product
claims to fulfill.
● Keep a review section. Let buyers of the products come back and put up a
product review. This will help you in turn about how the product is working out for
your website as well as your customers.
● Make returns and refunds easy. Mention all the terms and conditions for
returning a product and make the entire process of return and refund easy and
fast. This will allow the customer to purchase with confidence.
2. Customer Specific Pricing
Trust and long-term partnership between two companies are based on certain
fundamentals of the trade. When you treat fresh customers and loyal customers the same
way, you are providing your valuable customers with a reason to break the bond with you
and deal with someone else. Thus, here are some tips you can follow:
● Online portals must be incorporated into contract and pricing logic to
automatically manage price according to the customer.
● The same goes for customers buying a minimal quantity and those buying in
bulk. Those ordering in huge quantity should be provided with discount coupons
and more exciting offers.
● Send your loyal customers discount coupons via emails or messages, to push
them to shop more from your website.
This will encourage your valuable customers to stick with your business. Thus, the basic
idea is to separate your premium customers from the general crowd. Offer them privileges
and establish a long-term relationship with them.
12. 3. Diverse Products Under Same Company
One of the biggest challenges faced by companies is to manage different type of products
under one parent company. Since eCommerce platforms are used to sell diverse
categories of goods, sometimes things might get mixed up. The best solution is to come
up with microsites within the main site for each unique department.
This way, different sections are controlled separately and issues are resolved more
efficiently. Transactions and shipments are more convenient to handle and fault or error
is easier to figure out. The different sub sites resolve this issue and owners can manage
as many sites as they want.
Basic Models in B2B eCommerce
1. Supplier Oriented Marketplace (eDistribution)
In this type of model, there are many buyers and few suppliers. The supplier provides a
common marketplace. This market is used by both individual customers as well as
businesses. For the success of this model, goodwill in the market and a group of loyal
customers is very important.
A successful example of this business model is Cisco. Cisco owns an online marketplace
which goes by the name of Cisco Connection Online. In 1997 Cisco sold US$1 billion
worth of network products such as routers and switches to business customers.
13. Cisco started its online business in 1991. It began by providing basic electronic support
via the Internet. Three years later, in 1994, Cisco launched its website Cisco Connection
Online. By 1998, customers were using Cisco’s website — accessed about one million
times a month — for technical assistance, to check orders, or to download software.
In 1998, Cisco disclosed that launching its applications online saved the company
US$363 million per year!
Also, it saved US$180 million per year in distribution, packaging, and duplication as
customers downloaded new software updates directly from Cisco’s website. Additionally,
US$50 million was saved per year because there was no need for printing and distribution
of catalogs.
2. Buyer Oriented Marketplace (eProcurement)
In this model, there are few buyers and many suppliers. The buyer has his/her own online
marketplace. It then invites suppliers and manufacturers to display their products. Buyers
search in electronic stores in malls and markets for similar service providing products and
compare them.
So the buyer company makes it simple by opening a bidding site where a particular
product is available from different sellers at different prices.
A successful example of a buyer-oriented marketplace is GE’s electronic bidding site
which goes by the name of GE TPN Post. On GE’s bidding site, buyers pay a nominal fee
for using the site. After that, the buyers post their project information on site. Potential
suppliers download the project information and submit bids for the project. Buyers then
compare the suppliers’ bids. This helps buyers to build new partnerships with sellers and
receive and compare different bids and negotiate for better prices.
14. Sellers also benefit as they get a communication platform which has large-scale buyers
and thus, in turn, expand the market with low marketing and sales costs.
3. Intermediary Oriented Marketplace (eExchange)
In this type of model, there are many buyers and many suppliers. An intermediary
company runs a marketplace where business buyers and sellers meet and do business
with each other.
The best example of an intermediary-oriented marketplace is the giant player in this
space, Alibaba. It started in 1999 when the founder created Alibaba.com, a business-to-
business portal to connect many Chinese manufacturers with many overseas buyers. In
2012 alone, two of Alibaba’s portals handled $170 billion in sales. To get a feel for the
size of Alibaba, since 2015 its online sales and profits surpassed that of all US retailers,
including Walmart, Amazon, and eBay combined!
15. Current trends in B2B eCommerce
According to recent reports, analysts have forecasted that global B2B eCommerce
revenue will top $6.7 trillion by 2020.
1. B2B eCommerce to be double the size of B2C
According to Forrester, by 2020 the B2B eCommerce market will be worth $1.1 Trillion
compared to the B2C market at $480Billion. Also, 30 percent of today’s B2B buyers
purchase half of their products online. This is expected to double by 56% in 2017 as B2B
sellers will see a significant shift of offline business towards online business.
16. 2. Mobile Commerce (mCommerce)
It is anticipated that mobile phones will generate 15 percent of eCommerce sales by 2020
and tablets will generate 33 percent.
According to a study, 42% of subjects used a mobile for B2B purchasing process. There
has been an impressive growth of 91% over the past two years. The purchase process
by mobile devices has increased 22% in the past two years.
Sellers are now focusing on creating mobile-friendly websites because 80% of Internet
users have smart devices. And according to Forrester, 52% of B2B buyers research
products using their smartphones. Mobile devices are very handy, they make the whole
process of buying — the initial information gathering until final purchase at the best
available price — easier!
17. 3. Omni-Channel Engagement
Omni-channel engagement was among the top digital B2B commerce trends in 2016.
And that holds true in 2017 as well. B2B customers shop from online websites just like
individual B2C customers. B2B buyers also expect ‘consumer-like-buying’ experiences.
So regardless of whatever type your customer is, they always expect a seamless
experience as soon as their shopping journey begins — from purchasing, sales support,
customer care, tracking, and refunds and exchanges — in simple words a 360-degree
customer service experience.
So how do you fulfill these expectations? There are various eCommerce platforms to help
you with this. Nuance, Bold360, and Genesys all provide solutions to deliver a great
customer experience at every touchpoint.
18. 4. Smart Personalisation and Customisation
According to a research, 50% of B2B buyers said improved personalization is a key
feature for suppliers they want to work with. Customers nowadays want a customised
user experience. To provide this kind of experience companies are using machine
learning to deliver smart B2B personalization such as by using historical input data to
build insights that create a user-centric website.
Furthermore, 40% of B2B buyers identified back-end integration with financing,
accounting, order management systems (OMS) or enterprise resource planning (ERP)
systems as another key feature for suppliers to offer.
So, make the work of customers easier. Create a shortcut for them! Whenever a customer
wants to reorder things, an order history feature helps to list past purchases. Improve the
efficiency of your eCommerce website by reducing the number of clicks to get there.
5. Focus on the Global Market
Since eCommerce is a business that is online, it gives us to the opportunity to reach out
to billions of potential international buyers. One research states that B2B organizations
operate in an average of 7 languages. Multiple languages, currencies, and cultures shape
the expectation of customers coming to your site. So try to get into various international
markets.
Translate your websites to different languages, make the prices available in local
currencies, provide options to make of use preferred local payment methods — keeping
in mind all the local regulations — and in the end provide a great customer experience.
19. A successful example of growth in a global market is China. According to Smart Insights,
“China’s growth is so rapid that total eCommerce sales are expected to double between
now and 2019, adding $1 trillion Dollars worth of additional sales in just three years.”
Conclusion: The Future is B2B
While B2C businesses, brands, and investments have gotten the lion’s share of attention
since the early days of the Internet, B2B eCommerce is here to stay and it’s slowly but
surely growing in size to dwarf the B2C market.
Solutions for the B2B market are considerably more complex. And they often require a
change in the mindset of the people behind small and medium-sized businesses.
Moreover, these businesses make up the bulk of industry on just about every continent.
However, B2B eCommerce enjoys economies of scale and the long-term personal
relationships behind each buyer and seller means that the future is clearly B2B.
References :
https://emergeapp.net/wholesale-business/b2b-ecommerce/
https://www.bigcommerce.com/blog/b2b-ecommerce/#b2b-ecommerce-marketing-101