A B2B marketplace is an online platform where companies can trade goods and services with one another.
In 2017, the business-to-business (B2B) e-commerce market was the largest in the world, at an estimated $1.7 trillion.
Alibaba, Amazon, and eBay are the three most widely used business-to-business marketplaces.
For those unfamiliar, business-to-business marketplaces (or “B2B marketplaces”) are virtual meeting places for merchants. The goal is to facilitate the search for products by consumers and the discovery of services by providers.
Here are some of the ways that B2B marketplaces are better than more traditional ways of doing business:
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