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The popularity of eCommerce and massive numbers pertaining to online shopping make it seem as if every distributor and retailer has a website perfectly optimized to sell products and services. That's actually not the case.
According to an audit conducted by eCommerce platform provider hybris, 40 percent of the nation's top wholesale distributors - typically vendors in B2B transactions - have extremely basic websites and, in some cases, don't have any significant online presence at all. Considering the fact that eCommerce is becoming the preferred method to buy for procurement specialists, these companies are making a big mistake.
Many businesses won't even bother with vendors that won't offer them a solid online shopping experience, so those that don't have eCommerce as a buying option will likely struggle to optimize their profitability.
Steve Kramer, Executive Vice President Sales Americas at hybris, said in a recent press release that distributors have to start thinking of themselves as standard online retailers, because the eCommerce trend has moved past business to consumer transactions.
"The demand for quality online shopping has moved beyond the consumer marketplace and into B2B sales," Kramer said. "B2B purchasing professionals want a quick and simple online buying experience. This audit shows a huge opportunity for improvement among businesses in the electrical wholesaling sector."
While hybris can help these businesses set up their eCommerce platforms, there are other factors to consider, namely payment processing. At VantageB2B, we are proud to partner with hybris to offer payment solutions to their clients. We can help wholesale distributors implement an online gateway system that allows them to process level-3 data such as line item detail. By submitting this information, vendors can guarantee that they pay the lowest possible interchange rate.
Complete our contact form and we'll send you a link to download our Quick Reference Guides covering the essentials of accepting purchasing cards including best practices, Interchange rates & fees and card data security.