If you’re a merchant still wondering whether to take your B2B sales online, consider:
- Around 75% of B2B buyers say buying online is more convenient for them than buying from a sales rep
- The B2B marketplace is predicted to be twice the size of that of B2C by 2020 in the UK (it already is in the US)
- B2B online is growing at four times the rate of B2C
- 82% of B2B buyers have used Amazon to make a purchase for work
- 60% of B2B companies say their B2B buyers spend more when interacting with multiple channels.
At this year’s Magento Imagine the big announcements took centre stage. And the one that really got the entire community most excited was that on the new B2B features to be available in Magento 2.2 Commerce. Due for release this summer, it will provide merchants with the ability to fully support corporate buyers with account management, customised catalogues and price lists, tools for rapid ordering, online requests for quote workflow, and improved inventory visibility across outlets.
Already the most popular platform for B2B, Magento will now take performance and user experience up a notch: and the front-end merchant experience will be simple, straightforward, but with ultimate effect – helping merchants dramatically improve results. The B2B functionality that will come native with Magento 2.2 Commerce will be:
- Corporate Accounts – This feature will allow for multiple users under the same company umbrella, and for an administrator from the company to be able to make additions in users from the front-end. Different roles can have specific permissions and accesses
- Quick Order Functionality on the Front-End – Currently customers have to login to access quick order tools for B2B sites, but 2.2 will have them available on the front-end, allowing for faster transactions. Orders can easily be built from specific SKUs. Users can add directly to cart for checkout or quoting
- Requisition List – Customers can come back time and time again and access a list of regularly ordered items, even down to quantities. They can be used alongside wishlists, and there can be multiple lists per user
- Request a Quote Functionality – As the name suggest, this lets customers request a quote on items that they need. The buyer can ask for a custom discount on a set of products, and the merchant can define minimum orders allowing for negotiations and comments. The entire process is supported by email notifications. All history is preserved in the front-end and admin panel
- Shared Catalogs – Product category visibility can be controlled, and custom prices can be set. Catalogs can easily be assigned to multiple companies
- APIs – Rest APIs for new features, designed to simplify and enable ERP integrations
We’re excited about the Magento 2.2 Commerce release, and we have 100% confidence that we will continue to help our clients to improve on results, by utilising its features and tailoring them, bespoke to each and every vertical of their business.