U P C I S I O N

Look at B2B’s Future

One report, known as Global B2B E-Commerce Marketplaces 2020, has looked at how B2B e-commerce is going to expand throughout 2024. With e-commerce, it’s always going to be expanding with every year. Not to mention, this report didn’t realize the COVID-19 pandemic, which boosted e-commerce even more. With the B2B side of things, the marketplaces continues to increase fourfold. There are two big marketplaces that are competing, which are Amazon and Alibaba. For Amazon, the amount of annualized sales has reached 11 digits. While Alibaba isn’t as popular, it has over 10 million buyers in the B2B world. With more countries added everywhere, it’s fascinating to see where these companies will go. The report covered marketplace trends in the global development side of things, from how many sales were in the trillions, to the purchasing channels that were the most used and preferred. It also looked at small businesses and why businesses picked certain marketplaces. In addition, the report looked at the world superpowers, from China’s revenue to how India was receiving e-commerce platforms by the public. For North America, strategies usedto sell to businesses were explored. Europe looked at the number one online channel by manufactures in the B2B sphere, and Germany looked at channels businesses should purchase in the coming five years. We say to check out the report and draw your own conclusions from it. Here’s hoping the next four years serve you and your business right.

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