Have a look at present-day China to gain a brief understanding of the global B2B marketplace.
Designated Chinese B2B marketplaces are among the global B2B marketplaces, have principally driven e-commerce in China. China has now become the most enormous B2B market in the world. We can surely propose that you have heard of Tencent and Alibaba, who came to be some of the most significant companies riding the wave of e-commerce. These companies are those that represent the sale of many products that can be sold online, while other Chinese marketplaces also now operate in specialized verticals. Taking over the dominant position in food services, industrial machinery, and maintenance, chemicals, repair, agriculture, and operations (MRO).
By examining how things are unfolding in the e-commerce sector of China, you too can derive notable lessons of how things might look like in the future.
Alibaba rests on top of the rest of the general e-commerce platforms, with an astonishing worth of $9 Billion. However, it can be quite practical to study Chinese B2B marketplaces that operate within specific niches of B2B products.
Agriculture and Food Services
In 2018 alone, the The `Chinese “agrifood” market grossed around the US $5.8 billion. Because of successful ventures defining themselves as Chinese B2B marketplaces. Several companies, along with Alibaba such as Meica, have gained the status of arguably the largest B2B distributors of China and it has also raised the US $793.4 Million by focusing on connecting farmers to business buyers. Wheeling, a rising startup of the vertical, has also raised $150 million. In addition, Haishangxian, which is a platform offering products coming from the seafood ecosystem, has raised US$28 million.
Steel and Metals
As the #1 steel producer of the world, China is expected to garner 1 billion metric tons of steel by 2030. Emerging as an innovative perpendicular to the entire Chinese corporate sector in the early 2000s, Steel and Metals were one of the foremost marketplaces to merge itself in the Chinese overall B2B market.
Zhaogang.com and Ouyeel are two such marketplaces that have solidified themselves as big players in the relevant industry by raising US$379.4 million and US$431.9 million sequentially. These principal B2B marketplaces successfully make up for the assemblage of an enormous market for several distributors and have reached the top of similar B2B marketplaces.
Industrial Products like parts and MRO
The Chinese industry of industrial products flourished to achieve US$3.62 trillion in the year 2017. China has solidified itself as one of the most wide-reaching machinery exporters. A large part of the progress of the MRO market is also because of China.
Tiebaobei, HAIZOL, and Zhenkunhang, Exporthub.cn are Chinese B2B marketplaces that have collectively accumulated millions of US dollars to focus on providing the entire world’s manufacturing companies with second-hand engineering, industrial components, parts, lubricants, fasteners, adhesives, and raw materials too.
A sight into the future of the global B2B marketplace
This multitude of platforms emerging is a staunch testament to the supply of B2B products of China and several other B2B platforms of the countries being in abundance. For the business users of these platforms, that is. The ones mentioned are just a couple of examples from a copious collective from China as part of the global B2B marketplace.
Online platforms as websites are completely wholesome mediums through which businesses can find their prospective provisions of salient supplies. It can therefore be correctly assumed that startups all across the world shall adapt to similar operations of the business. Exporthub is a component of the internet, akin to the functions of the platforms mentioned above, but it offers products accumulated by suppliers that can be classified in the “general” category. Interestingly enough, it has provided businesses with the opportunity to gain many items belonging to the type they pursue to get.