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.