As globalization and consumer behavior continue to evolve, retailers need to adapt to new and unfamiliar markets. This requires preparing for cultural and linguistic differences, different payment options, national legal regulations, and necessary taxes and duties. It also requires data in order to determine the best growth opportunity. While Europe and Canada were traditionally early markets for U.S.-based retailers, these regions are now facing economic slowdown.
Business-to-business
Zion Market Research has published a report titled, “Global Business-to-Business E-commerce Market – Forecast and Analysis to 2028”. This report provides a comprehensive analysis of this market, highlighting the key drivers, trends, and challenges. The report also includes revenue figures, offers, and business chain structure.
Growth of the business-to-business e-commerce industry is expected to accelerate in coming years. The growth of the industry is attributed to various factors including technological innovations, improved security, and the increasing adoption of account-based payments. The growth of the industry is also supported by favorable regulations supporting cross-border trade and consumer protection.
The Business-to-business e-commerce market is segmented into developing and developed regions. This report provides detailed research of the market in each country and region. The research can help players develop effective expansion strategies for these regions. The report includes an overview of the latest trends, technologies, and products in the Business-to-Business e-commerce industry.
The B2B e-commerce industry is experiencing intense competition. Leading companies are focusing on mergers and acquisitions, as well as revamping their online business models. Many players are also focusing on improving the user experience to meet the needs of their clients. A successful B2B e-commerce platform will facilitate the smooth functioning of supply chains, as it helps companies manage inventory deliveries and logistics.
The Business-to-business e-commerce market is segmented by region and application. This report outlines the competitive landscape of the industry and identifies leading companies and their products. It also provides a regional breakdown of key players and their strategies. The report also highlights the different types of products and their application fields.
Brick-and-click
Brick-and-click e-commerce businesses have some distinct advantages over online retailers. One advantage is the ability to manage inventory synchronically in a single location. This helps to reduce the risk of overselling or underselling. Another advantage is the ability to provide a hands-on experience to customers. This is important, as over 30% of shoppers prefer to touch and feel products in a store.
The biggest challenge facing click-to-bricks retailers is preserving brand consistency. Modern customers are demanding a seamless shopping experience. One way to make this happen is to offer BOPIS – buy online, pickup in-store – for your customers. This option is becoming increasingly popular as it helps reduce shipping costs.
Another advantage is that the omnichannel approach lets brick-and-click retailers learn more about their customers and their preferences. In addition, it makes it easier to understand and analyze customer behaviour in a single environment. For instance, a brick-and-click retailer might know that a particular region has high web traffic – a sign that they should open a brick-and-click location near that region.
The brick-and-click business model helps small businesses improve their client experience. Most small businesses start with an online store where they sell products to their clients. They can then choose a brick-and-mortar location where they can offer their products to customers. By combining the two channels, brick-and-click companies can offer a more seamless experience for their customers.
Pure-play
While pure-play e-commerce startups are able to scale easily at the beginning, they will likely run out of runway in the long run. In order to maintain a competitive advantage, brands must focus on building brand awareness and providing an immersive customer experience. A dedicated try-on program is an excellent example of this. Online customers are missing out on the immediate gratification that comes with holding goods in their hands. Another challenge for online pure-plays is that they lack the ability to use multiple channels, making them more vulnerable to competition.
In addition to using an omnichannel approach to fulfill orders, pure-play retailers must also have a robust inventory management system to control costs and ensure product availability. Micro-fulfillment centers can be created in locations close to popular order destinations to save on storage and shipping costs, though inventory management systems must be in place to prevent overselling.
For pure-play retailers, the biggest challenge is shipping costs. Unlike brick-and-mortar stores, which typically have to pay rent, employees, and facilities, pure-play retailers have limited overhead. In addition, they may face challenges finding repeat customers, especially since they cannot offer in-store returns. As a result, pure-play retailers may be paying for shipping and handling twice compared to omnichannel retailers.
Because pure-play companies have no diversified business model, they are more likely to face poor performance. For example, one pure-play company may specialize in providing vegan meat alternatives, while another might focus on selling luxury jewelry. While this may not be a problem for the first company, the competition can eat into its profits and sales.
