Business to business (B2B) marketplaces are networking digital platforms that help connect businesses to suppliers to enhance their growth prospects and opportunities. Today, with Artificial Intelligence (AI), the business opportunities are high for buyers and vendors online in target-specific market access.
How do the B2B marketplaces facilitate or promote the buyer and supplier? What is the global B2Bmarketplaces outlook?
Current Global B2B Marketplaces Outlook
-B2B Marketplaces (online and offline) continue to expand and dictate the terms of growth in 2022 and beyond with high growth projections.
-The global B2B marketplace was projected at over 8550 billion
US dollars in 2021.
-These figures are expected to grow with economic rebound across
economies globally to exceed 18860 billion US dollars by 2027.
-Despite the COVID-19 pandemic, cumulative growth indicators point to a rebound across geographies as online demand fuelled growth with global lockdowns.
-Wongleer is a leading B2B marketplace in the USA with comprehensive platforms that offers information to foreign buyers & business solutions to suppliers focused on international trade.
Benefits of Global B2B Marketplaces
Apart from the global reach that makes global B2B marketplaces carry unique benefits, there are many other reasons and merits for buyers and
suppliers to access B2B Marketplaces. These may include.
1. Operational Efficiency
Businesses and buyers are looking for trading partners, platforms, and entities with flawless operations. Buyers and sellers don’t like to waste time, money, and other resources on aimless and purposeless efforts.
2. Lower Management Costs and Higher Profits
A business strives to cut down its costs of operations & maximize its returns. There are no costs incurred concerning warehousing since all online business deals eliminate this.
The hyper-fast sales through automated systems mean each moment
counts for your business. The global B2B platform has brought an array of opportunities.
3. Better and Target-Specific Online Presence
Search optimization improves the visibility and prominence of businesses on B2B marketplaces. How? Several B2B marketplaces with automated technologies and systems have improved business visibility through algorithms.
4. Enhance Target Audiences and Maximise Market Reach
Target audiences or projected market reach is a function of several variables and constants in marketing. B2B marketplaces can amplify a buyer’s or seller’s access to the best vendor options and increase their market access. Through networking, the best opportunities are availed for businesses to benefit and grow.
5. Local and Global Economic Growth
Local and global markets for small and medium enterprises depend
on B2Bs for the right product sourcing decisions. It is hard with several
vendors and suppliers to make an informed decision. With the advantages of B2B marketplaces, driving local and global economic growth is easy given the perfect matching needs and suppliers. Suppliers and buyers find a business networking platform to fulfil business objectives. Wongleer meets these objectives on either side.
Conclusion
The resurgence in global online businesses reflects the powerful influence of B2B marketplaces. Wongleer, as a leading international B2B market place has helped reshape several market trends globally. Besides expanding and increasing market access, B2B marketplaces have aided global economic resurgence post the COVID-19 pandemic.
