Why Magento is best-suited for your Wholesale B2B eCommerce?
- Jul 11, 2019
- By Rajeev Nar
Have you seen Forrester’s latest forecast? By 2024, the net worth of the B2B market is expected to soar to $188 billion (about $580 per person in the US). We are on the brink of a B2B revolution, with analytics already transforming the landscape of eCommerce.
With evolving B2B trends, transitioning to a digital commerce platform opens exciting new opportunities. If you’re reading this, you’re likely on the lookout for the perfect portal for your B2B eCommerce needs.
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To select the right portal, it’s crucial to understand the two fundamental requirements for B2B eCommerce:
- Admin Panel: This allows the admin or seller to manage the system.
- Company Account: This gives buyers access to the system from the storefront.
Magento B2B eCommerce is specifically designed to meet these needs for both sellers and buyers. It comprehends the complex organisational structures and multiple user roles within companies, offering a next-generation open-source platform known for its unmatched flexibility.
Magento 2 is particularly well-suited for B2B eCommerce due to its ability to incorporate various features and modules, enhancing the impact of your merchandise and making it easier for buyers to manage the store.
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Here are some modules to consider:
1. Customer, Contact Person, and Sales Representative Accounts
Unlike the standard Magento setup, this module allows B2B Business customers to create not just a customer account, but also a contact person account and a sales representative account. This means customer companies can access your store through various accounts, enabling different team members to place orders as needed.
Sales representatives benefit significantly from this module. They get access to an account dashboard that displays discounted prices tailored to specific customer companies. This allows sales reps to effectively interact with multiple B2B customers, ensuring they have all the information they need to close deals efficiently.
2. Price List for Each B2B Customer
In a B2B environment, a one-size-fits-all pricing strategy just doesn’t cut it. This extension enables the admin to offer customized discounts to different users. For example, you can offer a 25% discount to one customer while giving another customer a 15% discount on the same product. By defining price lists and linking them to specific customers, you can set up tailored discounts on every product, ensuring that your pricing strategy aligns perfectly with your business goals.
3. Customer-Specific, Product-Specific Pricing
This extension adds a highly unique feature to your eCommerce platforms store. It allows you to sell a specific product to a specific customer at a specific discounted rate. Furthermore, you can specify the exact dates and times when these discounts are available to the customer. When the customer logs in, they’ll only see the prices that are exclusively set for them, creating a personalized shopping experience that can enhance customer loyalty and satisfaction.
4. Customer Exclusive Tier Pricing
Magento 2’s Tier Pricing feature allows sellers to define volume-based discounts for customer groups. With this module, you can easily set a specific price for a certain quantity of a product for each customer. This means that bulk buyers will see discounts tailored to their purchasing habits, incentivizing larger orders and increasing your sales volume.
5. Price Rule Priority
The B2B modules offer the flexibility to configure an unlimited number of customer discount rules. You can define the priority of these rules for each customer account, ensuring that the most relevant discount is applied automatically. This feature helps streamline the pricing process, reducing the risk of errors and ensuring that your customers always receive the best possible deal.
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Additional Features
Beyond these key Advanced features, the module brings a wealth of additional functionalities to your Magento B2B store:
- Credit Limits: Maintain credit limits for customer accounts, which can be used as a payment method when placing orders.
- Purchase Orders: Customers can use purchase orders as a payment method, simplifying the buying process for larger organisations.
By incorporating these modules, you can significantly enhance your Magento B2B store, making it more versatile, user-friendly, and capable of meeting the complex needs of modern B2B commerce.
Conclusion:
By adding these powerful modules to your Magento B2B store, you’ll be perfectly positioned to meet the evolving needs of today’s B2B Buyers’ market. You’ll offer personalized experiences, streamline your operations, and provide competitive, tailored pricing for each customer. With Magento, you can embrace the future of B2B eCommerce and unlock your business’s full potential. Get ready to take your B2B game to the next level!
