The traditional B2B relationship between buyers and sellers has been slowly changing in the last few years, especially after Covid-19 pandemic. Customer behavior was forced to change; instead of in-person meetings or events, interactions pivoted to video calls, online chat and eCommerce. According to Mckinsey 74% of B2B buyers research at least half of their work purchases online.

Other factors come into play, such as the increased number of digitally-native Generation Z entering the workforce and millennials taking decision-making positions.

For businesses like yours, this means one thing: you can’t afford to mess about with the clunky and complex nature of offline purchasing processes. Gartner predicts, “By 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.”

B2B Marketplace Trends for 2024

1. Seamless B2C-like Shopping Experience

Going ahead in 2024, B2B marketplaces no longer mean plain websites or one-on-one buying. Digital selling is increasingly becoming the norm with the pressure on sellers to deliver B2C-like shopping experiences. As the B2B buyers are becoming more and more spoiled for choices, the onus is on the business-to-business sellers to have ample features to decorate their marketplace and offer vast product catalouges. Clear pricing information, real-time interactions, tailored content, etc is what drive customers to your B2B marketplace today.     

2. Hybrid Approach Through Omnichannel Experience

B2B buyers are using up to 10 sales channels before making a final purchase. The ecommerce trend has made the sellers opt for omnichannel ecommerce solutions for their B2B business. Yes, 61% of the B2B companies have already adopted an omnichannel strategy. With the growing demand for multi-channel engagement, make sure that going ahead in 2024, you interact with your customers on multiple channels and offer them a seamless buying journey across all channels. TijaraHub provides integrated omni-channel solutions to meet buyers’ evolving needs.

3. Dynamic Personalization

50% of the B2B buyers say personalization is the key factor in making a final purchase. As we enter 2024, personalization becomes a priority for all types of businesses. Personalized user experience is driving brands success, making it imperative for the brands to opt for enterprise ecommerce solutions that offer quick and easy personalization. The modern age customers look forward to feeling acknowledged and being treated special when they come surfing your marketplace.

TijaraHub solutions come with a host of features to help you offer personalization on your marketplace. TijaraHub offers customizable solutions tailored to the specific requirements of each party, ensuring a personalized and optimal user experience.

 4. AI Tools to Improve Customer Experiences

It's 2024 and AI has become the new normal. Artificial Intelligence is growing at its full pace to be a huge part of our everyday lives. With AI existing in almost all spheres of ecommerce, B2B companies are going to adopt the ecommerce trend to create an improved customer experience. The power of AI can be harnessed to create personalized shopping experiences and target customers based on their buying preferences. The past purchases or browsing history of the buyers helps brands implement recommendations and personalize the customer experience using powerful AI tools.

TijaraHub detects buyer fraud through integration with AI’s that assures a secure and clear history of the buyer

 5. Payment flexibility

B2B buying involves complex payment cycles and the buyers look for a simplified payment option that helps them shop seamlessly. With multiple digital means of payments, going ahead in 2024, B2B brands need to align safe and secure payment options on their B2B marketplace. Some of the B2B payments are also done in halves, part by part, half in advance, half after delivery, or even later after a pre-decided payment period (usually a month to 90 days) etc. Along with these, you can also offer rewards for full payments, and give them multiple payment options like digital wallets, UPI, etc.

Through TijaraHub, buyers can pay with credit & debit cards, and they are allowed to pay with convenient installments on your credit card, available on credit cards from most major local banks. Easy and secure financing on terms provided by your current banking partner. Installment plans integrated with Amazon Payment Services.