According to the recently released survey, the US B2B e-commerce market will hit $1.2 trillion by 2021. As responsiveness, mobility, and a seamless buying experience become a necessity beyond industries, the B2B sector is looking to overhaul business models to keep pace with technological advancements. If, like most of the population, you too believe that purchasing products for your store online is more convenient than physically buying from a sales representative, willing to implement or upgrade to Magento Enterprise is a comprehensive business move.
As B2B buyers want to make organizational shopping similar to how they purchase their personal products, a platform like Magento can offer the best features to meet these requirements. Magento’s extremely customizable platform can be tailored to satisfy the distinct needs of your business.
All you need is the right Magento Development Company in Canada to take your business to the next level.
Let’s look at six key components that make Magento a dominant B2B e-commerce platform:
1. Complete Search Capabilities:
Search for a product in the least possible time promptly is required for commercial shoppers at physical shops and B2B buyers. Magento’s creative and intuitive search abilities make it effortless for buyers to find their way through and search for the products they need by filtering down to the item, brand, category, or SKU level. The built-in reference engine delivers highly relevant content based on prior browsing habits or assigned customer groups and significantly advances conversions.
2. Multiple Brands, Channel Partners, and Key Accounts:
Any e-commerce platform – whether B2B or B2C – needs to be self-sufficient to thrive. With Magento B2B e-commerce, you can provide a consistent brand experience to all your customers beyond multiple brands and geographies. Set up various buyers’ tiers with distinct roles and permissions and permit buyers to manage their accounts and view detailed order histories seamlessly. When you hire a dedicated Magento developer you can achieve great results.
3. Customizable Catalogs and Prices:
Offering a customized e-commerce experience to customers based on their size, location, order volume, industry, or order frequency will undoubtedly go a long way. As per experts, we will see around 40% of B2B commerce sites using price optimization algorithms to deliver compelling pricing. Magento B2B e-commerce enables you to tailor experiences and established custom price lists to particular groups of businesses or individuals.
You can either offer a consistent discount to a group of buyers or show a customized price for products purchased by distinct buyers. You can also empower buyers to make purchases using their credit balance and promote relationships and sales.
4. Intuitive User Interface:
Usually, organizations lose a notable amount of business because of an ineffective e-commerce buying process. Magento B2B e-commerce websites offer an intuitive user interface for an amazing shopping experience.
Using multiple features such as agile access to information, intelligent-validation, intuitive search, request-for-quote, and single-page checkout, buyers can instantly and effortlessly place orders from any device at any time. A comfortable purchase journey makes it more comfortable for buyers to do business with you, decreases abandoned shopping carts, and encourages loyalty.
5. Comprehensive Inventory Management Features:
Every B2B e-commerce website has a highly complex inventory system that needs to be efficiently managed. Magento B2B e-commerce offers extensive inventory management features that let you enhance your operations and efficiently work orders from all sales channels.
With real-time inventory data across the supply chain, you can optimize your delivery costs and times and deliver a pleasant e-commerce experience.
6. Request for Quote:
Being ready to improve buyer relations is essential for most B2B organizations today. You can accomplish this by curating catalogs and prices that satisfy the needs of particular groups of buyers or individuals. Magento’s request for a quote feature helps entice more buyers and improves sales conversion.
By engaging buyers to request a quote, they can avail the most reliable pricing on products. This two-way communication can empower you to build your image as a committed brand and help you experience higher conversion rates.
B2B is observing a significant upward trend in the world of digitalization. With more companies moving their operations to B2B e-commerce, a platform like Magento is ideal to meet the industry’s increasing demands. You can reach greater heights using Magento framework for your business.