E-Commerce platforms are becoming a powerful economic force, redefining how business is conducted.
How B2B Platforms Have Revolutionized the B2B Buying and Selling Experience
The benefits of online wholesale platforms for buyers and sellers.
There is a growing need for business owners and procurement managers to save time and both mental and physical energy when sourcing products. Whether it’s stationery, electronic products, health supplies, pantry supplies, cleaning products, corporate gifts, or something else, people are increasingly turning to digital platforms and as a result, B2B marketplace continues to rise with the ongoing pandemic only catapulting it towards higher and faster growth.
This is why B2B platforms are becoming the new norm for wholesalers looking to benefit from the uptick in digital B2B demand. And the MENA region is no exception, with the benefits of online wholesale platforms for both B2B buyers and sellers leading to a shift towards online search and engagement.
Let’s take a look at some of the benefits of online wholesale platforms for buyers and sellers.
Advantages of online wholesale marketplaces for buyers
The buyers in B2B e-commerce are businesses that are pressed for time, in search of value for volume, and looking for ongoing support from trusted suppliers. Sourcing their requirements online through B2B e-commerce platforms gives buyers the following advantages:
- Ease of buying: A major advantage is the sheer amount of information available to a buyer that can be used to make the best purchasing decision in the most efficient way. Buyers are directly connected with suppliers and with similar digital storefronts, provided with the simplicity and functionality they need to compare product brands and suppliers, evaluate supplier reliability, track their shipments and delays, and make secure payments. This allows businesses to find trustworthy suppliers, be more informed about their shipments, and be at ease with the payment process. The buyers are secure and in control of their orders.
- Saves time: Buying through a B2B wholesale platform saves valuable time for businesses. They no longer have to waste time on manual order handling, on rectifying order errors, keeping up with changing prices, or on worrying about their order shipments. Digitizing the whole process is the key to freeing up time that can be better spent on running business operations successfully.
- Access to a cheaper and wider range of products: Through B2B wholesale platforms, businesses can also easily get their hands-on products that may not be available in their locality. Sourcing international products is, therefore, no longer a hassle. Also, with international sellers in the picture, most B2B e-commerce platforms are home to very competitive prices which works in favor of businesses. The WeMENA platform goes one step further and provides its sellers with the ability to compare and analyse their pricing and set competitive rates accordingly.
Benefits of online wholesale marketplaces for sellers
B2B wholesale platforms have completely changed the way B2B suppliers can now do business, with the following benefits:
- Expanded reach: Sellers now have access to more customers, different types of customers, and even international customers. This expanded reach has allowed sellers to grow their businesses, target newer market segments, and venture into more profitable product segments.
- Better customer service: B2B e-commerce platforms award their sellers with the tools they need to provide better customer service to their clients. Manual supply processes are more prone to human error, which adversely impacts supplier-customer relations. When the process is digitized, sellers are better equipped to avoid shipment delays, order errors, mistakes in stock counts, etc. This ultimately leads to a smooth transfer of goods from the seller to the buyer.
- Healthier bottom line: Selling on B2B wholesale platforms is ultimately better for making more money and saving more money, both of which improve a seller’s bottom line. Sellers on B2B wholesale platforms sell much faster and in much bigger volumes. They are also able to retain customers for longer. Additionally, sellers do not have to spend as much marketing and researching as they would if they hadn’t digitized their operations. Quicker and bigger revenues, long-term clients, and reduced costs can lead to higher profits.
- Cross-selling opportunities: B2B buyers are not the only ones who benefit from the numerous sellers present on B2B e-commerce platforms. B2B sellers are also at an advantage since they are exposed to a wide variety of products. This allows them to identify and explore opportunities for cross-selling. It also allows them to keep an eye on the competition, adjust their strategies and prices accordingly, and monitor which product segments are doing better and how to enter those segments as well. We, at WeMENA, have created an ecosystem where there is enough for every seller on the platform and healthy competition flourishes.
To ensure that sellers have all the necessary tools and help required to gain the enormous advantages of B2B wholesaling, WeMENA has introduced an all-in-one solution for reaching thousands of buyers across MENA – WeMENA Pro Seller. As a Pro Seller, you have access to high-quality leads, can directly negotiate with buyers, sell locally and globally, and you don’t have to worry about marketing. To learn more and get started click here.