What are retail B2B markets (business to business markets)? The definition varies, but traditionally, retail B2B markets are places where suppliers (usually manufacturers) of a given good can sell their products online to other businesses rather than to consumers. This is usually done because the supplier is selling raw materials (for instance, circuit boards or refined metals) which another company (say a computer manufacturer) will use to build their finished products.
Some retail B2B markets also offer brokering services and B2B online auctions. In some cases, retail B2B markets are also called retail business exchanges, and are sometimes said to engage in retail business trading.
Retail B2B markets are not a new phenomenon in some sectors. Retail markets have existed for things like cattle, livestock, and farm goods for centuries. However, the Internet took the concept of the retail market and did what the Internet does to many technologies: it made it faster, easier, and more accessible to everyone. Joining or starting a retail B2B market can grow your business because:
- Internet-based retail B2B markets can ignore geography. Companies can buy and sell products without ever being in the same country as other companies in the market.
- B2B retail portals make tracking the retail B2B markets' business quickly and easily. Special software has been developed to put a company's catalog online and track transactions done in the marketplace.
- B2B online auctions can happen away from consumers (for instance, on eBay.com) using the B2B retail service's online software.
Action Steps
The best contacts and resources to help you get it done
Find a retail B2B market which is right for you
Retail B2B markets are not a new concept in online business. There are numerous exchanges on the Internet today and a number of sites which will match your business needs to an exchange.
I recommend: Do research on the Internet.
TradeCoast.com and
B2B-Exchange.com (see the bottom of the page) both offer extensive listings of retail marketplaces which you can join. Even if you are considering starting your own exchange, consult these lists first to get ideas about what an exchange is and how it benefits its members.
Review several software providers before starting your own retail business exchange
Software companies have seen the need to provide off-the-shelf software for managing retail B2B markets. Today, these companies have a fair number of different software packages on the Internet that run a retail marketplace in their own way.
I recommend: First understand what you want from your retail B2B market. You may want to make a list of desired features. Then do some investigation on the Internet to see which software packages will create a B2B retail portal the way that you want. Two vendors you should consider are
Amalto and
Microsoft.
Consider speaking with an expert before starting a retail business to business marketplace
Creating a B2B retail exchange offers you an instant sales channel and gives you a network of partners you can use to grow your business. However, creating the exchange and operating it is not a small task. Because of this, it is highly advisable to talk with an expert in retail B2B markets.
I recommend: Seek out information from companies who have helped B2B retailers start their own private and public B2B exchanges. Companies like
Rusbiz can help you create your own retail B2B markets. Also,
HJ Ventures International offers free information on writing a B2B Exchange business plan and offers consulting on creating them.
Tips & Tactics
Helpful advice for making the most of this Guide
- If you are joining an exchange, try to find one that has been around for a while. Exchanges handle your money, so you want to be able to trust them.
- There are a number of different exchanges, even inside one industry. Do not settle for one that does not meet your needs or that you do not like.
- Starting a retail business exchange is a very IT-intensive undertaking. Make sure you have good software and hardware support.
The official source of Retail B2B Markets is the Retail B2B Markets page at Business.com
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