B2B ONLINE MARKETPLACES ARE BOOMING
Over the last couple of years, there’s also been an explosion of B2B marketplaces where businesses can buy and sell things.
Whether it’s a site like IronPlanet, where companies can buy and sell used heavy machinery, or a site like ACV Auctions, which is an auction site for car dealers, if they have excess inventory for example, those types of platforms are growing.
According to a report by Digital Commerce 360, in 2020, there were 70 known B2B marketplaces, and by the end of 2021, that number grew to over 250, many of which represent specific industries like the examples above.
We also saw the total revenue associated with these marketplaces grow about 15% from $1.4T to $1.6T from 2020 to 2021. And of course, that’s a much lower revenue growth rate than the number of marketplaces which have proliferated.
As we look at 2022, we’re likely going to see this revenue increase much more. A lot of these marketplaces were new and just getting themselves established in the last couple of years. But I think we’re going to find that many of them start to ramp up substantially in terms of the total revenue that comes through those platforms.
That was a quick survey of some key numbers to look back at from 2021 in the world of retail and e-commerce. I think times are still good for B2C and B2B in e-commerce. And I think it’s interesting to see the trends and the impact that COVID seems to be having on commerce in general, and what that means is we look forward to 2022. Hopefully those numbers are helpful and will be useful in your own digital planning.