Did you come across the latest Forrester forecast that the net worth of the B2B market will increase to $1.13 trillion by 2020? We are standing at the verge of B2B revolution and the analytics are already redefining the world of eCommerce.
With the changing B2B trends, leveraging to a digital commerce platform opens up new opportunities for you. However, if you are reading it, should we assume that you are already looking for the right portal for your B2B eCommerce?
In order to choose the right portal, it is important to understand the two basic requirements for B2B eCommerce. You need an admin panel that enables the admin or seller to access the system and, a company account that provides buyers access to the system from the storefront.
Magento B2B eCommerce is specially designed to fulfil these requirements of sellers and buyers. It understands the complex organisational structures of the companies and multiple users who have different levels of permissions and various roles. The next-generation open-source platform is widely used for B2B business because of its unmatched extensibility.
Its capability to incorporate features and modules makes Magento 2 best suited for the B2B eCommerce. The modules that can magnify the impact of your merchandise and make it more convenient for the buyer to handle the store.
Take a look at these modules:
1. Customer, contact person and sales rep accounts
Unlike base Magento, this module allows B2B customers to create a contact person account and a sales representative account along with the customer account. Customer companies can access your store with different accounts and place orders.
Sales representatives will have access to the Account dashboard and, they will be displayed discounted prices as configured for the customer company. It allows them to interact with multiple B2B customers as well.
2. Price list for each B2B customer
In general, you can maintain a single price for all the buyers. However, requirements are different in a B2B model. Adding this extension will enable the admin to offer different discounts to different users. That means, you can offer a 25% discount to a customer and simultaneously 15% to another one. Defining price lists and attaching them to specific customers allow the admin to configure customer specific discounts on every product.
3. Customer specific – product specific price
This B2B extension adds the most unique feature to your eCommerce store. A specific product can be sold to a specific customer account at a specific discounted rate. Also, it enables you to specify the date and time for which the discount will be available to the customer.
When the customer will log in from the front end he will just see the prices exclusively set up for him.
4. Customer exclusive tier price
The Tier price feature of Magento 2 allows the seller to define volume-based discounts for the customer group. You can easily set a definite price for a specific quantity of the product for each customer.
5. Price rule priority
The B2B modules allow you to configure limitless customer discount rules and let you define the priority rule for the customer account among all of them.
Apart from this, the module incorporates a host of other features into your Magento B2B store.
- It helps in maintaining credit limits for customer accounts and these limits can be used as payment
methods while placing orders.
- Purchase orders can be placed as payment methods for making a purchase.