The B2B online retail market will generate revenue of $6.7 trillion by 2020 and also will reach double the size of the business-to-consumer (B2C) online market, according to Frost & Sullivan.
Business to business (B2B) online retailing is growing because of rapid migration of manufacturers and wholesalers from legacy systems to open, online platforms.
B2B online sales will generate $25 trillion by 2020.
According to the report called Future of B2B Online Retailing, China and the United States will lead the B2B online retailing market.
B2B online relationships will move from a one-to-many to many-to-many business model. The report said retailers may face challenges while implementing B2B e-commerce strategies.
Tax and regulatory concerns have high impact on sales and providers typically employ large staff whose only responsibility is delivering products and services within these restrictions.
Moreover, executing marketing or educational initiatives in the B2B setting is complex, as clients need to understand the way products work and interact with other systems that they already have or are considering for purchase.
Internet retailers should offer a menu of services rather than one bundled option which will allow customers to experience the online channel with low risk.