Analysts predict B2B online retail industry will be worth $6.7 trillion by 2020
Although already valued at over $1 trillion, the B2B online retail industry is expected to grow by leaps and bounds over the next five years, according to a new report released by Research and Markets.
The analysis, entitled "Future of B2B Online Retailing," forecasts that the B2B online market will grow to a whopping $6.7 trillion by 2020, spurred predominantly by the transition of "manufacturers and wholesalers from legacy systems to open, online platforms." This migration to new B2B ecommerce solutions is also expected to facilitate a significant spike in transaction volume and wider-net B2B online relationships, with a greater degree of merchant interaction.
The increasing B2B-friendliness of ecommerce platforms like Amazon and Alibaba will play an influential role in this … more