The sale of goods and services or transactions between two businesses such retailer and wholesales. The recently introduced tern B2B e-commerce comprises the business-to-business transactions and selling activities by online sales portals. These online business to business practices are making the sales activities more efficient and effective for the businesses. The demand for goods and services. In business-to-business e-commerce involves electronic market services by middle organization which uses the internet and other electric methods to connect buyers and sellers of goods.
The COVID-19 pandemic had boosted the business-to-business e-commerce. The pandemic resulted in rapid upsurge in online shopping, change in customer preference. The nationwide lockdown had caused disruptions in supply and distribution of goods and services along with shut down of the retail stores. The business-to-business vendors immediate adopted towards internet-based solutions to ensure business continuity. This drastic shift towards internet-based services have propelled the growth of the business-to-business e-commerce market.
Business To Business E-Commerce Services Market Dynamics
The business-to-business e-commerce market is broadly classified on the basis of the deployment type and application. The deployment type segment is further divided into Buyer-oriented, Supplier-oriented and Intermediary-oriented. The application segment is further divided as home & kitchen, clothing, consumer electronics, healthcare, sports apparels, industrial & science, automotive, beauty & personal care, books & stationery and others. The home and kitchen segment had faced a significant growth in the pandemic duration. The segment remains unaffected to uncertainties of the pandemic.
The leading players involved inbusiness-to-business e-commerce Amazon.com, Inc., Flipkart.com, IndiaMARTInterMESH Ltd., eBay Inc., ChinaAseanTrade.com and KOMPASS. The leading player are enforcing strategies like acquisitions of the local players to strengthen their customer base and eliminate the competition.
The North-America region holds the majority of the geographical market share. The businesses in countries such as the U.S. and Canada are well adopted to the online business transactions. The growing demand for the digital channels to fulfil the growing business requirements is propelling the growth of the business-to-business e-commerce market in the North America region.