What are Online B2B Marketplaces? 20 Top B2B eCommerce Marketplaces and How These Online Platforms Benefit Suppliers and Buyers in 2023
The global B2B eCommerce industry was estimated at USD 6,883.47 billion in 2021. It is anticipated to rise at a CAGR of 19.7% from 2022 to 2030. Consumer preferences for online shopping have changed due to the COVID-19 epidemic, opening up new opportunities for industry expansion. The outlook for B2B companies has also improved due to the closure of physical stores and increased online orders.
B2B online marketplaces are the most efficient and goal-oriented trade platforms for buyers, sellers, and wholesalers. Many companies are searching for the best B2B marketplaces that can provide them with a wide range of features, discounts, and services that may help them develop quickly. As a result, such platforms are widespread and offer fantastic opportunities for growth and sales. Below is a list of B2B online marketplaces that give you the best opportunity to communicate with a worldwide audience.
- What is a B2B Online Marketplace?
- Benefits of Online B2B Marketplaces
- Benefits of Utilizing a B2B Online Marketplace for Suppliers
- Benefits of Utilizing A B2B Online Marketplace For Buyers
- Top 20 B2B eCommerce Marketplaces in India & World in 2023
- Why Partner With WareIQ For Your B2B Fulfilment?
- B2B Online Marketplace FAQs: Frequently Asked Questions
What is a B2B Online Marketplace?
A B2B eCommerce marketplace is the best option for businesses looking to connect and conduct business with other businesses. Additionally, it allows them to combine and streamline their web platforms for communications and business.
A B2B online marketplace conducts orders and transactions through digital solutions that facilitate B2B eCommerce activities, streamlining and streamlining the transaction process.
The digital eCommerce platform enables businesses to interact with other organizations safely and conduct business in one location, defining a B2B marketplace. B2B eCommerce marketplaces are similar to traditional B2C platforms in that they are where businesses buy and sell goods, typically in large quantities.
However, the critical distinction between a B2B and B2C platform is that brands, manufacturers, suppliers, wholesalers, and other businesses are the primary buyers and sellers in a B2B eCommerce marketplace. In contrast, individual consumers are the primary purchasers in a B2C platform (such as Amazon , for example).
Benefits of Online B2B Marketplaces
According to Gartner, by 2025, 80% of B2B sales interactions between suppliers and buyers will occur on B2B online marketplaces.
Since a B2B online marketplace is an eCommerce platform that connects several suppliers with numerous buyers. An online B2B marketplace differs from a single-vendor B2B website because it has special features that let users compare, converse, and select items from the top B2B merchants worldwide. By boosting their brand’s visibility and broadening their pool of prospective customers, vendors also win from participating in B2B eCommerce marketplaces. B2B marketplaces became a successful business model thanks to this upward spiral of scale, which also gave eCommerce enterprises many options across all sectors.
Here, we go through the benefits of B2B online marketplace, which make them beneficial for conducting B2B eCommerce activities in India.
Benefits of Utilizing a B2B Online Marketplace for Suppliers
Marketplaces for business-to-business transactions give sellers excellent chances to optimize their selling procedures and significantly cut logistics costs.
Increase your online visibility
By digitizing your complete ecommerce catalog, you will already be miles ahead of many of your rivals that still rely on outdated in-person B2B sales methods. In addition, you have a better chance of connecting with potential customers and making significant purchases if you put your products online for viewing. It is like being at a 24-hour, 365-day global trade show where you are constantly present and visible.
Expand Your Network and Profit From Current Customer Demand
Numerous B2B procurement professionals are already actively using the leading B2B marketplaces to conduct their business. By connecting with and making purchases from various vetted and reliable suppliers on a single centralized platform, B2B eCommerce marketplaces give buyers the ease and confidence they need. In addition, selling on a B2B online marketplace can relieve you of some of the labour and help you efficiently widen your network if you lack the time and resources to attract consumers through physical and online channels on your budget.
Cheaper Operational Cost
Regardless of the platform’s business model or the seller fee structures, the first cost to access a B2B online marketplace is often minimal and affordable for businesses of all sizes. Additionally, it offers suppliers the chance to lower operating costs. They no longer need to maintain extensive printed catalogues or invest in conventional marketing avenues.
B2B marketplaces offer a consistent user experience and an intuitive seller portal where you can quickly load your company and product information to launch your online business. Marketplaces include eCommerce shipping, CRM, product management, and payment services. Instead, creating and integrating such complex systems into your website may be costly and time-consuming.
Test Newer Products
Eliminating out-of-date inventory and SKUs is simpler than ever when you manage your products through a unified web interface. Your own sales information can be easily accessed through a B2B online marketplace to assist in guiding your choice of products or product creation. In addition, the marketplace portals frequently offer sales-trend insights and aggregated data for various industries or segments, allowing you to adjust to the sales trends and reap the benefits of being a “first mover,”, particularly during times of crisis.
Benefits of Utilizing A B2B Online Marketplace For Buyers
Online B2B marketplaces provide buyers with excellent chances to streamline their procurement process and quickly cut costs significantly.
Easily Find New Partners
The ability to connect with and find new international partners is the first obvious benefit that a global B2B online marketplace gives buyers. In addition, due to the very structure of B2B eCommerce marketplaces, buyers can locate new businesses and purchase options for less money.
Discover The Best Price Deals
Once you have identified a few vendors who fit your requirements, you can quickly contrast their costs and terms of delivery. Additionally, purchasers can send enquiries to various chosen sellers using the marketplace program and then compare the sellers’ pricing offers.
You can always purchase your goods or services at the lowest price using the capability of some online B2B platforms, which allows you to track pricing by vendors and compare them in real-time.
Track Expenditure and Anticipate Transaction
Buyers may keep tabs on their expenditures and project the cost of upcoming purchase contracts by utilizing the integrated monitoring features of a B2B online marketplace. Once you have enough information, you can quickly optimize your purchase strategy and related costs by analyzing your purchasing habits.
An online B2B marketplace platform allows you to forecast most types of transactions and even automate some transactions to acquire the best price or delivery terms when used in conjunction with predictive analytics tools.
Search for Exact Product Matches
Vendors can enter special features for each good or service they provide using an online B2B marketplace platform. Thanks to this, a buyer may quickly search for and find exact matches of the delivery-related products.
These features include product availability, colours, sizes, dimensions and delivery details like shipping costs and associated taxes and fees. A customer can then use this to find the ideal product match based on a complex set of parameters.
Select Preferable Payment Options
Not every payment option is suitable for every buyer, but most B2B marketplaces provide a list of both conventional and cutting-edge payment options. For example, you can use a traditional wire transfer or the payment method that best suits you.
WareIQ, an eCommerce fulfillment company, empowers online brands with a superior-tech platform to compete with Amazon like service levels by bringing their average delivery timelines from 5-10 days to 1-2 days.
Top 20 B2B eCommerce Marketplaces in India & World in 2023
According to research, India’s B2B eCommerce market will reach $1 trillion by 2024. Innovative enterprises that charted a new road for development may be responsible for the success of the expanding Indian B2B eCommerce market. B2B businesses might benefit from various fresh opportunities with access to capital and funding. By offering an online marketplace on their websites, several startups contributed to the B2B market’s exceptional expansion and spurred B2B trade. These eCommerce behemoths created a ready-to-use B2B ecosystem to help the sector grow to where it is today.
Consider a few of the best B2B internet marketplaces.
One of the top-rated and fastest-growing B2B marketplaces is eWorldTrade. It was developed to ease international trade and establish new benchmarks. You may find a huge selection of products that have been validated by eWorldTrade on this platform. They are well-versed in the most recent features and services that support business growth.
You may quickly connect with buyers and sellers on their highly engaging page. To help traders overcome market obstacles, they provide the most outstanding services. Membership packages are an excellent feature of eWorldTrade. You may find every modern feature with quick and creative trade solutions on this platform.
The largest B2B marketplace for wholesale goods is Alibaba, established in 1999 by Jack Ma and Peng Lei. This market has maintained its dominance in the industry for many years because of its aggressive and intelligent strategy. As a result, it has grown incredibly well-liked as a platform for Chinese businesses to advertise their goods. With over 900 million active users, Alibaba is one of the most efficient platforms for different trading services, including B2B, B2C, and C2C.
Its customers can access various services, such as mobile commerce, digital auctions, e-commerce, and online shopping. Due to its variety and unique facilities for manufacturers and customers, it employs more than 50,000 people and generated about $100 billion in revenue in the previous fiscal year.
SeeBiz is an innovative business networking tool and a booming B2B wholesale marketplace. You may find, post, view, and share anything about wholesale here.
It offers more than 600,000 goods from more than 1,000 certified wholesalers. This makes it simple to investigate good things, from common stock to uncommon goods.
The advantages of this extend to both buyers and sellers.
Additionally, you can post, share, and even communicate with other companies. This will make it simple for you to monitor shifting wholesale patterns and make adjustments as necessary.
By joining a constantly growing business network, developing enduring wholesale business partnerships, and enhancing your online visibility, SeeBiz may help you build your company more quickly.
Scoutstock, accessible as a B2B platform for small to medium enterprises (SMEs), is our top B2B marketplace. It provides all the crucial marketing, sales, and logistics components businesses need to remain operational. It is a Dutch-based B2B marketplace where producers, distributors, and retailers can come together to sell, making it simple for customers and suppliers worldwide to connect and complete transactions instantaneously.
Since no fees are associated with registering an account, adding products, or setting up your business name, Scoutstock.com is an exceptionally affordable choice for SMEs. In addition, Scoutstock.com’s global reach makes it simple to locate new clients and suppliers anywhere, which is crucial for companies wanting to grow.
Having been in operation for more than 20 years, IndiaMart is another well-known B2B marketplace in India. It’s a somewhat uncommon business founded before the dot-com boom and is still operational today. The business began as an online list of Indian manufacturers and suppliers but has since evolved into a fully functional B2B marketplace. IndiaMart asserts that more than 5.5 million providers and more than 8.2 million buyers are registered on its platform.
Suppliers can post their product listings for free on IndiaMart’s system. They don’t begin paying until they have a response from a customer (i.e., a lead). As a result, small firms and startups wishing to promote their product without spending much money on marketing and advertising make it an appealing prospect.
Additionally, the business offers a mobile app with more than 10 million downloads that enable suppliers to record videos of their product offerings. One of the best places for small enterprises and startups to begin selling their products is IndiaMart, an award-winning B2B marketplace.
Made-In-China is one of the first B2B marketplaces still in operation today. It is one of the largest B2B marketplaces in the world for technological products, such as electronics, equipment, and machinery. They serve various types of businesses, particularly small and medium-sized ones.
Customers of Made-in-China may now find what they’re looking for with ease. Made-in-China sells furniture, clothing, electronics, computers, and other items in addition to machinery and other goods. Buyers can enter the products they are looking for in the product sourcing request.
This top B2B marketplace aims to make it simple for customers to locate reliable suppliers anywhere in the world. Leading B2B marketplace GlobalSources links buyers with suppliers in China, Taiwan, and India. The business offers a variety of products across numerous categories on a user-friendly platform.
One feature distinguishing GlobalSources from other B2B marketplaces is the variety of vendors. Only vendors with a solid track record are listed on the company’s website after they have all undergone a rigorous verification process. This guarantees that customers only access reliable vendors through the platform.
The website is one of the finest locations to hunt for reliable suppliers because it offers thousands of products for sale. You may get anything you require for your business here.
Recognized in Asia, DHgate is a unique B2B platform that is not overly large yet sizable enough to keep visitors entertained. The platform offers a unique entry point for customers to find their desired products by bringing together reputable and trustworthy brands across Asia. The platform’s excellent feature satisfies consumer demand for high-quality Chinese goods throughout most of Asia’s countries.
To overcome the language barrier and improve accessibility, the products on the websites are arranged using English as the primary language. It enhances convenience in the store and makes internet shopping safe.
For businesses of all sizes, Amazon launched the business-to-business Amazon Business marketplace in 2015. Comparable to Amazon’s business-to-consumer branch is this market. Enterprises in education, healthcare, hospitality, and many other sectors that require wholesale purchasing are the target market for Amazon Business. Any size registered business can find a purchasing option on Amazon Business. Users authorized to access and make purchases on Amazon on behalf of their employers can be designated by each company. Depending on the organization’s requirements, the principal administrator can control payment methods, delivery addresses, approval workflows, and reporting options, among other things.
Early in the 1990s, when eBay was established, it was a C2C platform. Today, it is an improved, fully working B2B platform. They want to embrace and collaborate with retailers to promote growth. One of eBay’s guiding principles is to support and mentor customers.
They have established professional teams because they operate on the principle of teamwork. Over 786 million people have visited their websites. They’ve established a database of buyers and sellers to simplify commercial transactions.
One of the platforms available is reasonably priced. In addition, they integrated a financing option for both parties to assist buyers and sellers in purchasing equipment and establishing connections for future business growth.
Since its operations in 1996, ECPlaza has been the leading B2B platform for offline and online members. The company has evolved beyond only operating an online store and now offers EDI services and trade consulting. It is the platform that accepts businesses at all stages.
Due to its friendly policies and business opportunities, EC Plaza has a good reputation. Therefore, ECPlaza is the most excellent place to go if a business wants to expand and establish a prospective presence in the market. They give their clients outstanding services in addition to connecting buyers and dealers.
A “One-Stop Trading Network” is being developed by the futuristic trading platform ECPlaza to make trading transactions even more convenient. By easing the trade cycle, the initiative will be helpful.
In the beginning, AliExpress wasn’t a B2B marketplace. It is a platform designed for small and medium-sized firms that can’t afford to pay exorbitant prices for supplies and goods. They aid in elevating the stature of faltering as well as new businesses.
One of the most reliable places to shop is there. They have a reputable reputation in the trading industry. They are the primary option for small enterprises and have a global presence. Millions of users from all around the world are welcome to join and collaborate with AliExpress.
They have an efficient website that makes it simple to conduct online transactions. One of the highly regarded brands with safe and secure payment options is AliExpress.
One of India’s top online markets, TradeIndia is headquartered in New Delhi and has more than 3 million registered members. This marketplace participates in regional, national, and international trade competitions and events with its vendors’ basic and premium membership options. In addition, it provides a range of services to its sellers, including trade reports, company catalogues, credit reports, leads, dial b2b, and call me free. It serves a variety of industries, from equipment to agriculture, with over 12000 product categories and subcategories. In addition to these accomplishments, TradeIndia is Google’s top SME partner.
Another B2B marketplace that has reached the top of the list is EC 21. They currently link with over 2 million members, and their numbers are rising. The global marketplace operated by the Korean firm connects buyers and vendors. In addition, they’ve provided meals and created chances for small- to medium-sized businesses.
The platform appeals to the audience since it is user-friendly and makes it simple for users to navigate by simply entering keywords. In addition, they have strong brand recognition on the international market due to their technological and trade prowess.
One of EC 21’s most valuable features is Buyers Central. They are eager to establish a lasting reputation in the future so that companies can benefit from their expertise.
Having been in operation for more than 20 years, ExportersIndia is another well-known B2B marketplace in India. The business began as an online list of Indian manufacturers and suppliers but has since evolved into a fully functional B2B marketplace.
One of those portals with almost no or very few B2C products only intended for B2B transactions. As a result, the suppliers’ and products’ quality may be trusted. In addition, one can find anything they may require for their business on the website’s comprehensive list of available products.
Customer service is quite responsive and helpful, according to reviews from clients. In addition, buyers may interact with suppliers and conduct business more efficiently, thanks to their mobile app.
go4WorldBusiness is a well-known B2B platform that links suppliers and customers globally. The company offers a variety of products across numerous categories on a user-friendly platform. This site is a good choice if you’re seeking suppliers to show you high-quality products at reasonable pricing. The website provides a variety of values as well.
The organization’s headquarters are in New Delhi, India, which was created in 1997. Asia, Africa, and the Middle East all feature a significant presence for the corporation. The website is one of the world’s most well-known B2B marketplaces, with over 10 million users. It’s one of those websites today where you may locate, get in touch with, and do business with suppliers worldwide.
The firm employs dedicated industry experts who are always available to help build and expand your business. They also provide various services that could help you generate leads and profits.
If you need a secure online platform with adaptable, distinctive features and dependable expertise, Exporthub will never disappoint you.
One of the biggest selling centres in the internet B2B community, the global B2B marketplace allows sellers worldwide to profit. International customers are never let down by the best B2B marketplace sellers. Because of this, customer service representatives are constantly available to help these officials through any difficulties.
The best and fastest-growing online B2B marketplace, Exporthub, makes trade simple. It adheres rigorously to international trade norms to prevent customs and tax hiccups that would reduce business productivity.
Due to its assured sales and rapid growth, Exporthub is becoming increasingly popular among international sellers. On the marketplace, there are a lot of B2B businesses that have been successful in gaining the delight of their customers by providing high-quality goods at reasonable costs.
TradeKey stands out from the crowd in the B2B market. On TradeKey, you may find many of the most reputable and trustworthy manufacturers operating online retail stores.
The leading B2B marketplace places a premium on customer happiness and offers authentic goods to foreign customers. You can quickly identify verified importers, exporters, distributors, and manufacturers in your industry by searching the B2B company listings.
The name of a broad internet selling platform is TradeKey. Most customers come from Bangladesh, Taiwan, Malaysia, Pakistan, and India. Since these countries are renowned for creating the most complex goods, foreign buyers frequently visit the area to take advantage of these merchants.
One of the top B2B marketplaces, ThomasNet provides various products. ThomasNet offers more than 490,000 suppliers and customers to meet the broad need of diverse industries. This platform thoroughly looks at the supplier while upholding safe transparency between vendors and customers.
The vendors on this e-commerce website give the customers as many wonderful items as they could ever want. ThomasNet is listed among the top B2B marketplaces in the globe because of this.
Simply create an account on the site to participate in the commercial activity that will increase your income more than ever.
ECVV is a leading B2B platform that offers clients encouraging support in obtaining the goods they need. As soon as you access the site, its streamlined design and user interface capture your attention. Each product is classified into a specific category and given a precise product description on the label. After a period of difficulty, the organization has carved its path to success, and its true essence of wealth resides in how it committed itself to providing top-notch services.
Suggested Read: B2B Marketplace Strategy to Up Your Ecommerce Game
If you want to sell your goods to other companies or find suppliers, the aforementioned B2B eCommerce platforms are excellent places to start.
Now that you know the best B2B online marketplaces and how these platforms help providers and customers, it’s time to narrow down your options.
These leading B2B online marketplaces continuously take crucial steps to better themselves and satisfy consumers. Just keep in mind that selecting the best B2B platform also involves selecting the one that is most appropriate for your online business.
The top B2B eCommerce platforms mentioned above are also reviewed in this post based on a few essential requirements. However, aspects like the Pricing Plan, Marketing Tools, SEO Features, or Support are still necessary to pay attention to.
Why Partner With WareIQ For Your B2B Fulfilment?
The eCommerce fulfillment market is expanding as more companies realize the benefits of placing orders for products online. Now is a perfect time to provide B2B products if you want to grow your eCommerce business. Get a competitive edge, and enhance B2B business with WareIQ’s B2B Fulfilment Services.
WareIQ supervises order fulfillment for B2B eCommerce businesses in various product-selling industries. With rapid growth, wholesalers, resellers, and startup companies operate online and supply tangible goods. WareIQ oversees the entire fulfillment process, from taking orders to completing deliveries and managing inventory so its B2B clients can prosper and flourish.
WareIQ Pick & Pack
We can fulfill 1 to 10,000+ orders daily using WareIQ’s automated order fulfillment system, which guarantees effective and accurate picking and packing. Additionally, we don’t believe in charging for services that aren’t used, so with WareIQ, you only pay for what you use. We prefer simplicity, and we know you do too.
WareIQ’s Smart Technology
Utilizing intelligent technology, WareIQ approaches the market with efficiency as our primary objective. For example, we can automatically map SKUs across different sales channels and bundle product combinations thanks to our API integrations. As a result, you may update your product offerings without worrying about tracking, inventory levels, or—most importantly—fulfillment.
Processing in Bulk At WareIQ
You can set up bulk processing using our inventory management software to fulfill B2B (Business to Business) orders as efficiently as D2C purchases. You may control your inventories and processes based on your chosen parameters through the dashboard. You can process several orders using this option and relax, knowing they will be fulfilled correctly.
WareIQ Expertise In B2B
We at WareIQ know how important performance is for expanding eCommerce businesses and attaining their full potential. No issue is too large or small for our professionals, who undergo a thorough training program to make professionals shipping experts. They are also completely aware of your scaling requirements.