VTEX: B2B Marketplace model generated $260 billion in sales by 2023 and is ready to unlock digital business scaling

VTEX, the composable and complete commerce platform for enterprise B2C and B2B brands, highlights the crucial role of the B2B marketplace model as a survival strategy for businesses seeking to expand and thrive in today’s competitive landscape.

The B2B marketplace has already transformed consumer behavior, setting a new standard. The rewards for these marketplaces are clear: strong customer loyalty, high revenue, and wider product variety.  According to Digital Commerce 360, B2B marketplace sales surged from USD 24.6 billion in 2020 to USD 260 billion in 2023. More than half of business buyers report that their company lets them purchase from the largest B2B marketplace, Amazon Business.

“The B2B marketplace model is not just a trend; it’s a transformative strategy that enables businesses to scale efficiently and sustainably. At VTEX, we believe in the power of marketplaces to drive growth, deepen customer loyalty, and expand product offerings without the traditional risks of expansion. Our platform is designed to support businesses in this journey, providing the technological foundation and strategic guidance needed to succeed in the digital economy. Our digital commerce infrastructure ensures profitable growth for 2,600 B2C and B2B companies in 43 countries worldwide”, stated Santiago Naranjo, Chief Revenue Officer of VTEX.

Benefits of a B2B Marketplace Model

For businesses aiming to increase revenue without the risks associated with traditional expansion, the B2B marketplace model offers a compelling alternative. A B2B marketplace brings together multiple vendors to offer diverse goods and services tailored to business buyers. Unlike traditional marketplaces, the benefits a marketplace offers to B2C buyers are obvious. Purchasing through a marketplace is easier, more convenient, and often more affordable thanks to volume discounts.

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The main benefits for embracing this model are:

Increase Revenue – Launching a marketplace creates several opportunities for increasing revenue, helping businesses tap into a larger buyer base and explore multiple revenue streams such as commissions, ads, subscription fees, lead generation programs, and data monetization.

Deepen Customer Loyalty – by becoming a one-stop shop for the customers and offering a wide variety of industry-relevant goods. A B2B marketplace has the power to capture valuable data on customer preferences and SKU performance to better meet their needs and defend the market share against big tech platforms.

Expand Product Range – by  offering new products without expanding the warehousing footprint or building new supply chains. It also increases resiliency by sourcing from multiple suppliers, ensuring the permanent fulfill of customer demand.

Adopting a Marketplace Model

Before launching a marketplace, evaluate your business’s readiness:

• Adaptability and Resilience: Embrace change and collaboration within your team to manage the transformation. Be prepared to make strategic decisions about marketplace structure, supplier engagement, and logistics.
• Business Model Considerations: Decide whether to manage fulfillment internally or leave it to sellers. Ensure your ecommerce operation is mature, with integrated inventory and orders, a strong supply network, and diverse fulfillment options.
• Technology Partner: Choose a technology partner that evolves with your marketplace. For instance, Macromex, a leading Romanian food company specializing in frozen foods, has transformed its B2B ecommerce operations with VTEX’s robust platform.

Founded in 1994 and based in Bucharest, Macromex faced significant challenges during the COVID-19 pandemic, including workforce shortages impacting their traditional sales model. Seeking to digitize their B2B business, Macromex chose VTEX for its flexibility and adaptability to specific market needs in the hotel and restaurant industries.

By integrating VTEX’s B2B capabilities, Macromex has automated its order-taking processes, significantly reducing errors and freeing up staff to focus on value-added tasks. This integration ensures long-term benefits and improved operational efficiency. The company’s B2B ecommerce debut with the bocado.ro platform for HoReCa specialists and the subsequent mercadi.ro platform for grocery store owners has yielded impressive results. Macromex now offers 24/7 support to sellers, streamlined order management, enhanced financial visibility, and personalized pricing through VTEX’s advanced features.

As an AWS Partner, VTEX utilizes cutting-edge technologies to provide efficient and customizable solutions, enhancing Macromex’s digital commerce infrastructure. This partnership has enabled Macromex to offer the fastest and most modern supply solutions to their customers, reduce operational costs, and expand their customer base, solidifying their market leadership in the frozen food sector.

To learn about how VTEX’s composable and complete platform is becoming the commerce platform of choice for Macromex and other renowned brands like Colgate, Motorola, Samsung, Under Armour, Whirlpool and more, click here.