From Surf Wiki (app.surf) — the open knowledge base

B2B e-commerce

Sale of goods or services between businesses via an online sales portal

B2B e-commerce, short for business-to-business electronic commerce, refers to the sale of goods or services between businesses through an online sales platform. It helps improve the efficiency and effectiveness of a company’s sales operations. Instead of handling orders manually through sales representatives, telephone, or e-mail, companies now process orders digitally, which helps reduce administrative and operational costs.

B2B characteristics

Manufacturing companies obtain components or raw materials from other companies and then sell to a wholesaler, distributor, or retail customer. For example, an automobile manufacturer makes several B2B transactions such as buying tires, glass for windscreens, and rubber hoses for its vehicles.

Market development and trends

The B2B e-commerce market is growing rapidly. In 2014, 63% of industrial supplies buyers made their purchases online. The US market was projected to grow from $780 billion in 2015 to $1.1 trillion by 2020, but recent data suggests that it is even larger. In 2022, just over 10% of B2B product sales, totaling $1.676 trillion, were made through e-commerce websites. This growth trend is expected to continue strongly until at least 2026. The European Union Enterprise policy aims to "enhance trust and confidence" in B2B electronic markets.

In the US, B2B e-commerce is expected to reach $1.8 trillion by 2023. This growth is being driven by a number of factors, including the increasing adoption of cloud computing, the growth of mobile commerce, and the rising demand for end-to-end supply chain solutions.

References

"How Does eCommerce Reduce Business Transaction Costs for a Typical Retail Store?".
Kenton, Will. "How Supply Chains Work".
(2015-04-03). "US B2B eCommerce To Reach $1.1 Trillion By 2020". Andy Hoar.
"US B2B Ecommerce Forecast 2022–2026".
European Commission, ''Enhancing Trust and Confidence in Business-to-Business Electronic Markets'', Communication from the Commission to the Council, the European Parliament and the European Economic and Social Committee, COM(2004) 479 final, published 14 July 2004
"US B2B eCommerce Will Hit $1.8 Trillion By 2023".

Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

e-commerce business-to-business

Want to explore this topic further?

Ask Mako anything about B2B e-commerce — get instant answers, deeper analysis, and related topics.

Research with Mako

Free with your Surf account

Content sourced from Wikipedia, available under CC BY-SA 4.0.

This content may have been generated or modified by AI. CloudSurf Software LLC is not responsible for the accuracy, completeness, or reliability of AI-generated content. Always verify important information from primary sources.

Report