The Best B2B eCommerce Platforms for 2023
Table of Contents:
I. Introduction
II. The Importance of B2B E-commerce
III. The Changing B2B Landscape
IV. Top B2B E-commerce Platforms
A. Shopify and Shopify Plus
B. Bigcommerce
C. Adobe Commerce
V. Pros and Cons of Each Platform
VI. Conclusion
VII. FAQ
The Importance of B2B E-commerce
In today's digital age, it's more important than ever for wholesalers and manufacturers to get their products online and into the world of e-commerce. The top search engines, such as Google, won't even serve your content unless you have products and content online to deliver to potential customers. This means that having a strong online presence is crucial for businesses to succeed in the B2B marketplace.
According to statistics, 90% of B2B buyers start their research online, and 74% of these buyers prefer to be able to make their purchases online. Additionally, 84% of customers prefer to do their repeat purchases online. If your business isn't serving this demographic, you're missing out on potential sales and customers.
The B2B landscape is changing rapidly, with the retirement of the Baby Boomer generation and the rise of Millennials and Gen Z's in leadership positions. In fact, 65% of companies are currently led by Millennials or Gen Z's, and 73% of these companies are led by Millennials or have Millennials as the decision maker when it comes to purchasing decisions. This shift is affecting B2B sales in a major way, with year after year growth of B2B sales online.
In 2023, B2B sales online are projected to reach 1.8 trillion dollars, growing at a rapid rate even through economic challenges. B2B buyers purchase goods or services for their organization almost daily, with one third of these people buying up to three times a day for their businesses. This growth is mainly online, with traditional B2B companies only growing at a rate of 0.5% year after year, while e-commerce is growing at a rate of 10% annually.
Top B2B E-commerce Platforms
When it comes to B2B e-commerce platforms, there are many options available. However, the top three platforms that we see requested at iwd agency and that are the best for B2B e-commerce businesses are Shopify or Shopify Plus, Bigcommerce, and Adobe Commerce.
Shopify and Shopify Plus
Shopify is the fastest growing e-commerce platform out there, with a focus on innovation and coming out with new features quickly. It's easy to get started with, making it a popular choice for small to large businesses. However, it does take a percentage of your revenue and limits the amount of customizations you can make.
Shopify Plus, on the other hand, is highly focused on B2B features and is the most innovative platform out there. It's a hosted solution, making it low maintenance, and has recently released new B2B features such as company profiles, quantity purchasing rules, and quick ordering tables.
Bigcommerce
Bigcommerce is focused on the mid-market, with a hosted solution that allows for more customizations than Shopify. It's lower maintenance and has a B2B portal, corporate account management, sales representative quoting, and B2B rules built in. However, it's not fully customizable and is still building out its B2B feature list.
Adobe Commerce
Adobe Commerce, formerly known as Magento, is the oldest platform around and is fully customizable and open source. It has a large feature list and is built into the Adobe Suites, making it a popular choice for businesses already using Adobe tools. It has a lot of B2B features baked in, such as the ability to create custom catalogs for individual companies, sales representative quoting, and more complex product handling. However, it requires more maintenance and can be more expensive for the initial build.
Pros and Cons of Each Platform
Each platform has its own pros and cons, and it's important to weigh them out for your business. Shopify and Shopify Plus are easy to get started with and highly innovative, but limit customizations and take a percentage of your revenue. Bigcommerce is lower maintenance and allows for more customizations, but is still building out its B2B feature list. Adobe Commerce is fully customizable and has a large feature list, but requires more maintenance and can be more expensive for the initial build.
Conclusion
In conclusion, having a strong online presence is crucial for B2B businesses to succeed in today's digital age. The B2B landscape is changing rapidly, with a shift towards Millennials and Gen Z's in leadership positions. B2B sales online are growing at a rapid rate, with projected sales of 1.8 trillion dollars in 2023. When it comes to B2B e-commerce platforms, the top three options are Shopify or Shopify Plus, Bigcommerce, and Adobe Commerce. Each platform has its own pros and cons, and it's important to weigh them out for your business.
FAQ
Q: What is B2B e-commerce?
A: B2B e-commerce refers to the buying and selling of goods or services between businesses through an online platform.
Q: Why is having an online presence important for B2B businesses?
A: Having an online presence is important for B2B businesses because it allows potential customers to find your products and services through search engines and make purchases online. It also allows for repeat purchases and is becoming the preferred method of purchasing for many B2B buyers.
Q: What are some of the top B2B e-commerce platforms?
A: The top three B2B e-commerce platforms are Shopify or Shopify Plus, Bigcommerce, and Adobe Commerce.
Q: What are some of the pros and cons of each platform?
A: Shopify and Shopify Plus are easy to get started with and highly innovative, but limit customizations and take a percentage of your revenue. Bigcommerce is lower maintenance and allows for more customizations, but is still building out its B2B feature list. Adobe Commerce is fully customizable and has a large feature list, but requires more maintenance and can be more expensive for the initial build.
Q: What should I consider when choosing a B2B e-commerce platform?
A: When choosing a B2B e-commerce platform, you should consider factors such as ease of use, customizability, maintenance costs, and B2B feature list. It's also important to do your own research and request demos from each platform to see how they stack up for your business.
