B2B Vs B2C Marketplaces: The Differentiating Factors

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Businesses can purchase and sell their products and services only to other businesses on an online platform known as a B2B (business-to-business) marketplace. It is not the same as a typical business-to-consumer (B2C) marketplace, where companies offer products and services to customers at the end of the supply chain. B2B platforms are customised to the requirements of various enterprises, such as wholesalers, distributors, manufacturers, and retailers. These marketplaces attempt to facilitate easy procurement processes and efficient transactions by providing a variety of features and services. Both B2B and B2C companies provide tools for pricing, negotiation, secure payment processing, and other services that improve the entire purchasing and selling experience.

The worldwide B2C eCommerce market size is anticipated to grow at a nigeria phone number list CAGR of 8.05% and reach a valuation of USD 8,016 billion during the forecast period of 2022-2030. The market size of B2B eCommerce was valued at USD 7,432.12 billion in 2022. With a projected compound annual growth rate of 19.2% from 2023 to 2031, the B2B eCommerce industry is expected to reach USD 36,107.63 billion by 2031.

Popular B2B marketplaces include Alibaba, IndiaMart, and others; B2C marketplaces include Amazon, eBay, Flipkart, and so on. These marketplaces assist companies in finding vendors and customers, negotiating contracts, and executing transactions with ease.