It’s a promising time for the B2B ecommerce market. It’s predicted to reach $12 trillion in sales globally by 2020! according to research by Frost and Sullivan.
Despite these numbers! B2B retailers still struggle with ecommerce functionality that has become routine in many B2C industries. A recent survey exploring challenges for online sales in the US B2B market found that 34% of respondents say difficulty with web store data management is a key challenge while 24% say the poor customer experience online compared to offline is a major hurdle for them.
Accurate and up-to-date pricing
A critical element to ensuring the employment database customers’ offline-to-online experience is smooth and one that requires data management to be a seamless process. In B2B prices are often complex! highly customized to each buyer or volatile depending on the industry. In addition! there are often specific requirements with taxes and various regulations! especially when retailers sell globally! that can make it difficult to provide the right price in the right channel at the right time.
A 2021 report from Retail Systems Research (RSR)! Retail ecommerce in context: the next iteration reveals that 44% of respondents say a top opportunity to improve the online shopping experience is the ability to apply the same business rules! such as pricing! across all touch points.
“B2B pricing models are inherently complex!” says Wayne Vernon! Lead Product Manager! Price Rules at Bold Commerce. “Customers might have special pricing based on loyalty! negotiated discounts! order! and annual volume! or other factors. Often this pricing data is maintained in a legacy system! or worse — a spreadsheet. This makes automating the purchase process in an ecommerce environment incredibly difficult.”
For brands looking to tap into
The B2B ecommerce growth opportunity! using a platform-agnostic API to expand the best software for amazon sellers a commerce platform’s pricing capabilities is an ideal way to ensure pricing is accurate! up-to-date and seamless between all channels.
The complex nature of B2B pricing has prevented many retailers from delivering a seamless offline-to-online purchasing experience for their customers.
“B2B and wholesale sales interactions have traditionally been very manual processes!” says Wayne Vernon! Lead Product Manager at Bold Commerce. “In order for customers to get the best price available to them via an ecommerce singapore number platform! they usually have to engage with a sales rep who manually creates an order that reflects the customer’s special pricing! volume discounts! etc. This not only introduces friction into the buying process that results in drop-off! but is also incredibly labor intensive.
