In 2017, B2C eCommerce sales hit $2.3 trillion worldwide. B2B eCommerce, on the other hand, reached $7.7 trillion. That’s a 234.78% difference in market size. Huge right? Yet despite the scale of the opportunity, many B2B retailers have struggled to adapt the growing demands of the business consumer. Customer-centricity has long sat at the heart of B2C strategy, visit any retail conference and it’s impossible to go 30 secs without retailers emphasizing a customer-centric approach.
When Amazon Business launched, it was hailed as a major threat to B2B distributors and a key strategic priority for Amazon’s growth. Within a year the marketplace had surpassed $1 billion in sales, and was reputed to be growing at 20% month over month.* Featuring hundreds of millions of products, bulk discounts and two day free shipping, Amazon Business literally meant business. Two years later, and with the rollout of their marketplace across some of the world’s most influential retail markets US, UK, Japan, India, and recently in France, we’re asking what’s the big deal about Amazon Business and is it all it’s cracked up to be?
Find Mirakl At B2B Online In May – See Why Launching A Marketplace Makes Sense For All Kinds of B2B Companies
Mirakl is proud to be sponsoring B2B Online because we firmly believe that every B2B company can benefit from a marketplace. Whether you are a manufacturer wanting to convert site visitors without upsetting your channel, or a distributor needing long-tail assortment and 100% inventory visibility across both internal divisions and external suppliers, a marketplace is the right solution for you. Come check out Mirakl at booth #304!
With less than one month to go until the Marketplace Summit by Mirakl, it’s fast approaching and we have lots of exciting content and speakers to share. The Summit is the largest global gathering of marketplace executives in the world. Sharing strategy, best-practice, industry leadership and customer testimonials, it promises to be a place to learn and share all things marketplace! The timing couldn’t be better, with Gartner having named Marketplace Management as one of the hot eCommerce topics of 2017.
Let’s face it: Amazon Business is crushing it. Whether it be doing over $1 Billion in revenue in its first year of operation, or winning a $5.5 Billion public sector contract, Amazon is setting the standard for B2B procurement in the same way it did for B2C procurement.