Best E-commerce Practices and Platforms to Sell Health & Beauty on B2B Marketplaces
March 17, 2021
B2B marketplaces include market-leading brands of health and beauty on their platform. They have the largest network of global manufacturers and distributors while also selling direct-to-consumers. B2B multi-seller or multi-vendor platforms help in accomplishing all the company goals of large-scale industries and also to evolve and adapt faster than their competitors while exceeding our customers’ expectations. With a progression in digital infrastructure, B2B marketplaces are challenging older channels like departmental stores or branded stores to raise more profits.
These shifting behaviors might seem alarming, but they actually present an exciting profit-earning opportunity. New, widely available commerce technologies are enabling brands to directly reach their customers—be they traditional consumers or B2B buyers—effectively bypassing traditional channels. Now, business owners and brands can easily enter new markets and scale in ways that simply were unbelievably difficult to reach in a short span of time. When it comes to embracing digital technologies, the B2B market is especially ripe for innovation Wholesale buyers are bringing their personal, digital-focused buying habits into their work, and are responding to B2B eCommerce in new and exciting ways.
Advantages offered by B2B marketplaces for Beauty & Health wholesalers
- Leverage consumers’ growing demand for premium products, and expand into the B2C market
- Introduction to newer technologies like artificial intelligence (AI) and augmented reality (AR) that enabes both B2C and B2B buyers to virtually try on makeup before committing to a purchase
- Usage of the data collected from these AI and AR tools to plan the future strategies
- can drive growth by better leveraging their existing customer base
- Bundling certain products, and up-selling and cross-selling your existing customers to open the door to increased revenue
- Appreciation from B2C buyers for offering a buying experience that they’re already familiar with in the B2C market—such as a price-and-assortment personalized eCommerce shopping experience and hassle-free purchasing options
- Diving into new revenue streams and opening yourself to different business opportunities
Top 5 B2B Multi Vendor Marketplaces in India
Udaan was conjured up and developed to small and medium businesses to run and flourish in their business. Udaan offers a direct connection of buyers with manufacturers and helps them to buy and sell their product and services on a common platform. Udaan has 1,50,000+ traders, wholesalers and retailers from various divisions of India. One of the satisfactory features of this multi-vendor platform is that it provides credit facility to selected buyers on the platform.
IndiaMART is popularized as a successful B2B multi vendor marketplace in India. It permits large scale businesses, SMEs and individual sellers growth opportunities on a wider platform. Through its 47 lakh+ suppliers, IndiaMART trades over 5 Cr products listed on its platform to over 47 Lakh enterprises and individual buyers across India.
Alibaba not only connects Indian suppliers and businesses domestically but also offers a huge platform for exporters, importers and suppliers at a global level. Indian buyers can buy products from global sellers and also sell their products globally through Alibaba’s B2B multi vendor marketplace. Its active buyers list is over 30 million and million other sellers too. This makes Alibaba one of the leading multi-vendor marketplaces.
Tradeindia has over 5 million registered users and approximately 4 million sellers and buyers. It connects small businesses from Indian as well as international markets who can sell their products and services through this common platform. It has been bestowed with many accolades for offering reliable and industry best services to its merchants and other businesses in India as well as in global markets.
ExportsIndia is an exclusive ecommerce marketplace to help Indian manufacturers and sellers go further and beyond to the foreign markets while also successfully selling in the domestic markets. It has helped many businesses reach unbelievable pedestal through online selling.
B2B E-commerce Practices to Adapt for Selling Apparel
- Tax Management: If your eCommerce marketplace is catering to the global audience or multi regions, then one of the best practices to follow is to figure out taxes to different states according to their tax rules and then assign products to the tax bracket. Fetch real-time tax rates based on categories imported and assigned to products.
- Invoicing Module: Having a set invoicing provides transparency to the customers about the order they have placed. Invoicing modules are especially important for b2b eCommerce marketplaces. New seller tax invoice module should have an invoice number, tax categories and mandatory government information related to a particular state or country.
- Reliable Payment Gateways: For an online marketplace owner, managing the payment process manually such as withdrawal requests, seller payouts, & refunds is a time & effort consuming task especially if you are operating globally. So choose world-ready payment gateways like paypal for easy transactions throughout the world.
- Location services: Personalization has become the first priority for traders now, entrepreneurs have been struggling to provide personalization with the features integrated features like manageable Geo-Location setting that sets the product listing & search on the platform based on the delivery address or pick up location. It should also have a “Not available for your location” feature for products that are not available for a particular location. Add to cart functionality will not be available for products that are not available at a location.
- Payment gateway options: It should securely interface between an eCommerce website and a global trader’s preferred mode of payment, which can be their bank account, credit card, debit card, gift card, or any online wallets. With multiple payment gateway options preferred worldwide, customer purchasing experience becomes more relevant and nice.
- Shipping Management: One of the most difficult management routines a B2B platform should follow is to manage the huge logistics, fetch live rates from shipping carriers configured, create shipping labels & generate tracking numbers for orders from shipping carriers configured, create shipping orders from shipping carriers configured post-order process, track orders and follow a strict post-order process.
- Engaging Checkout Experience: The checkout process has to be seamless to reduce the number of abandoned carts. The checkout must be optimized according to the user’s journey to minimize the abandoned cart rate. All the details of pick up and ship, taxes, location services and payment options should be on display while checking out