Future trends of B2B marketplaces in India

The large entrepreneurs' involvement in the B2B ecommerce industry is making India become the upcoming big market. Being standing among the worldwide largest economies, India has enriched experience. The global players also make considerable investments in India's B2B marketplace. 

Moreover, "3 trillion dollars" is the 2020 expected GDP in India. Over 39 billion dollars are spent on the ecommerce market in 2017. It is anticipated to reach 64 billion dollars in 2020. In conclusion, B2B marketplaces in India are expected to four times improve the market share between 2018-2024. Before starting with the trends, you need to comprehend B2B benefits that Indian marketplaces can proffer:

  • Bargained, Quoted, or Auctioned Price
  • Credit Payments
  • Higher Transaction Values
  • Multiple Decision Makers
  • Multiple Deliveries
  • Rational Buying

Due to technological advancement, B2B commerce has procured significant benefits in numerous areas. Indeed, B2B marketplaces are an indispensable component of the future. We have gathered information on the upcoming trends in India for B2B marketplaces:

Blooming Marketing: 

Branding and Marketing operations are a pressing concern for B2B businesses. Many websites have experienced slow growth in marketing efforts, which became a blessing for them. It delivers higher profitability. With better ROI possibilities, it is essential to concentrate on marketing operations that will bring higher sales rate in the future. 

Wallet Use:

Online and wallet payments became famous in 2019. This transaction activity is still progressing in 2020. Many users tend to adopt cashless, contact-less, and digital payments. Wallet usage is becoming the most-preferred payment mode on a large scale in India.  

New Categories:

Earlier, Indian B2B marketplaces were limited to grocery, food, and fashion. A speedy growth in other categories such as gadgets, electronics, and tech has been seen in the e-commerce industry. In the upcoming years, the Indian B2B marketplaces are set to dominate, create, and capture more such categories.

Digital Transformation: 

The digital world is creating new paths for business daily. It has also transformed the e-commerce industry. Many companies created websites to save over 90% on operating and sales costs. The digital transformation helps in bringing about profitability, speed, and predictability to the B2B marketplaces in India.

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