Last Updated: May 04, 2022
Amid the increasing automation and digitization of traditional business practices using smart modern-day technologies, we witnessed the start of the Fourth Industrial Revolution (4IR). The term was introduced by Klaus Schwab – the executive chairman of the World Economic Forum (WEF).
From modern product development methods to digitized human resources, disruptions have engulfed almost every business. For instance, in the Business-to-Business (B2B) industry, organizations are gradually switching to B2B eCommerce software solutions to start online B2B platform in order to address the rapidly changing consumers’ shopping behavior, expectations, and preferences worldwide.
B2B eCommerce is the online buying and selling of products/services (usually in bulk) between wholesalers, distributors, manufacturers, and other sellers. It is among the fastest-growing eCommerce sectors with Alibaba.com, Made-in-china.com, Thomasnet.com, and Tradekey leading the industry dynamics.
B2B eCommerce sales are surging rapidly as buyers increasingly prefer digital channels over physical retail. For instance, according to a survey published on Mckinsey, nearly 80% of B2B buyers prefer remote interactions or digital self-service as B2B sales leaders embrace digital commerce as the next big step for industry growth.
Source: McKinsey & Company
Moreover, according to a report by Grand View Research, the global B2B eCommerce market valued at $6.64 trillion in 2020 is expected to reach $25.65 trillion by 2028 growing at a compound annual growth rate (CAGR) of 18.7%.
This reflects the increasing demand of the B2B industry and an opportunity for businesses to invest in its digital commerce. To capitalize on this demand, businesses are looking for an off-the-shelf platform to kickstart their B2B eCommerce operations quickly.
A B2B eCommerce platform is a turnkey solution to start an online B2B store swiftly. B2B ecommerce platforms are inherently designed to minimize development hours, reduce time to market, and facilitate B2B eCommerce transactions.
Investing in a readymade B2B solution allows B2B sellers to leverage digital commerce functionalities in order to better manage suppliers/customers, sell more to existing customers, reach new customers, and make better decisions with comprehensive data analytics.
Amid the growing demand and business opportunities in B2B eCommerce, for businesses to capitalize, it is equally important first to identify the right B2B eCommerce platform that meets your business requirements.
Fortunately, there are several factors that one can consider while choosing an ideal B2B eCommerce platform for business. Let’s discuss the five best factors here:
Yo!Kart B2B is one of the leading B2B ecommerce platforms for entrepreneurs, small-medium businesses (SMBs), and enterprises to start an online marketplace. The B2B ecommerce solution is highly flexible, scalable, and fully customizable to meet individual business requirements.
The self-hosted B2B ecommerce solution is designed using an in-house framework, comes with an in-built content management system (CMS), and much more. With every Yo!Kart purchase, you get source code ownership, lifetime license, and no recurring charges or transaction fee.
Yo!Kart B2B marketplace platform is a proprietary eCommerce solution that makes it easier for smaller businesses to test run their B2B business model and for established/larger enterprises to launch & scale rapidly. The software comes populated with all essential features and integrations right out of the box.
UNI Diamonds and Bozinga are two of the prime B2B marketplaces powered by Yo!Kart B2B.
Key B2B Features of Yo!Kart:
Limitation:
Pricing: Yo!Kart B2B ecommerce platform pricing starts at $1499 for startups looking to start their B2B marketplace. This pricing includes standard design, lifetime license, and free technical support.
Overall Rating: Yo!Kart has a rating of 4.7 on G2 and 4.1 on Capterra.
BigCommerce is an open-source SaaS-based B2B eCommerce platform that comes with a variety of B2B features and tools to modernize buying for retailers, distributors, and manufacturers. The B2B eCommerce platform enjoys an abundant library of third-party plugins for businesses to embed into their business.
The B2B ecommerce platform is fully secure, feature-rich, and has two prominent plans – pro and enterprise, specifically targeted for the B2B sector. Apart from this, BigCommerce has also partnered with BundleB2B – a B2B enterprise software – to leverage businesses to fuel eCommerce and ensure a better buying experience. The B2B edition is essentially BigCommerce’s enterprise plan with a pre-installed BundleB2B app and six pre-installed themes to choose from.
Key B2B Features of BigCommerce:
Limitation:
Pricing: BigCommerce B2B platform comes in four unique packages – Standard at $29.95/month, Plus at $79.95/month, Pro at $299.95/month, and Enterprise Plan at RFQ. Also, the BigCommerce B2B edition is essentially an enterprise plan + BundleB2B app.
Overall Rating: BigCommerce has a rating of 4.2 on G2 and 4.3 on Capterra.
Shopify Plus is an enterprise eCommerce platform by Shopify, designed solely for enterprises. It is a popular B2B eCommerce solution with omnichannel support, automated workflows, flexible APIs, and more. The platform is highly intuitive with a streamlined checkout system.
Shopify Plus enables enterprises to manage both B2B and DTC businesses with separate storefronts. There are more than 10,000 brands that use Shopify Plus worldwide to streamline business operations. The platform allows businesses to enhance the retail experience with customizations via third-party integrations through Shopify apps and Partners.
Key B2B Features of Shopify Plus:
Limitation:
Pricing: Shopify Plus pricing starts at $2000/month for standard installation and integrations. For businesses with large volumes, a variable fee is charged as per the requirements. Contact Shopify Plus experts for more details.
Overall Rating: Shopify Plus has a rating of 4.4 on G2 and 4.8 on Capterra.
Magento is an open-source eCommerce platform written in PHP for businesses to cater to the unique eCommerce demands of buyers. The platform is highly flexible and suited for both B2C and B2B businesses. Magento is owned by Adobe and comes with an enterprise offering called Magento commerce.
The popular B2B eCommerce platform, Magento offers intelligent digital solutions to manage wholesalers, distributors, and manufacturers in a B2B online store. Magento comprises a vast extension library of resources to build a flexible eCommerce store. The platform is suitable for both small-scale businesses and large-scale enterprises.
It is a fully customizable B2B ecommerce platform that allows businesses to create, manage, and edit B2B eCommerce websites, creating a personalized experience. The B2B software requires a dedicated development team to build a B2B eCommerce store with complete control over the operations.
Key B2B Features of Magento:
Limitation:
Pricing: Magento open source is free to use but requires a dedicated development team. The pricing for the Magento commerce edition depends upon annual gross merchandise volume (GMV) and average order value. Below is a reference of cost structure for the Magento commerce and Commerce cloud edition.
Average Gross Sales Revenue | Magento Commerce Cost | Magento Commerce Cloud Cost |
---|---|---|
< $1,000,000 | $22,000/year | $40,000/year |
$1,000,000–$5,000,000 | $32,000/year | $55,000/year |
$5,000,000–$10,000,000 | $49,000/year | $80,000/year |
$10,000,000-$25,000,000 | $75,000/year | $120,000/year |
$25,000,000+ | $125,000/year | $190,000/year |
Overall Rating: Both Magento Open Source and commerce have a rating of 3.9 on G2.
NetSuite’s B2B eCommerce platform SuiteCommerce is designed for B2B sellers to maximize their efforts while saving time. Suitecommerce comes well supported by NetSuite’s inventory management system, Enterprise resource planning (ERP) system, Customer relationship management (CRM) system, and more.
With unified offerings from NetSuite; wholesalers, distributors, and retailers are better equipped to manage stock supplies and speed up order fulfillment. The B2B eCommerce platform comes with mobile-optimized pre-designed templates, a centralized repository of customer information from all channels, quick drag-and-drop editing functionality, and much more.
SuiteCommerce is a highly adaptive, customizable cloud-based solution offering complete control/visibility to business owners. The ecommerce software enables businesses, including brick-and-mortar stores, to engage with customers on multiple channels building a personalized experience. NetSuite’s native eCommerce offering is scalable, comes with an intuitive user interface (UI), and is designed to optimize the B2B eCommerce experience for businesses
Key B2B Features of Oracle NetSuite’s SuiteCommerce:
Limitation:
Pricing: NetSuite’s SuiteCommerce pricing starts at $40,000/year. This includes the core platform, optional modules, and the total number of users. The installation fee is charged extra.
Overall Rating: NetSuite’s SuiteCommerce has an overall rating of 3.1 on Capterra.
Now that we’ve reviewed the best B2B eCommerce platforms, this will narrow down your choices and help you identify a stable off-the-shelf B2B eCommerce solution that meets your business requirements. Remember to evaluate all your options, take a live demo (if possible), review customization possibilities, and more before making the decision.
In a B2B store, online transactions and sales are facilitated between two business entities (such as a wholesaler, distributor, or manufacturer) whereas, in a B2C store, a business sells products/services to customers directly. Alibaba.com is a B2B eCommerce store whereas Amazon.com is a B2C store.
As the name implies, Business to Business to Consumer is a streamlined business model where one business firm partners with another company/business to sell its product/service to the end consumers online. The goal is to create a connected eCommerce platform where B2C firms assist B2B businesses in selling directly to consumers online while B2C firms earn revenue from the individual sales transaction. Instacart, for instance, is an example of B2B2C eCommerce where grocery stores are company 1 that sell their groceries to consumers via the Instacart website.
Amazon is both a B2B and B2C company. Amazon.com, a more popular offering, is a B2C eCommerce store whereas Amazon Business is a B2B eCommerce store with more & more businesses queuing up to list/sell on Amazon Business.
A B2B wholesale platform is an eCommerce solution designed to deliver an intuitive online store where buyers purchase goods in bulk. Here, most sellers are wholesalers that offer goods only on bulk purchases.
There are mainly five types of B2B eCommerce: