B2B marketplaces tell the story of where B2B ecommerce finished in 2023 and where it’s headed in 2024.
The moral of the story: B2B marketplaces remain the fastest growing B2B digital sales channel and a key driver in how business organizations of all sizes are undergoing digital transformation, according to the newly published 2024 B2B Market and Customer Experience Report.
Consider these metrics about B2B marketplaces
- B2B marketplaces grew year over year nearly 100% in 2023. That’s up to $224.0 billion from $113 billion in 2022.
- B2B marketplaces last year accounted for 1.3% of all B2B sales.
- There are now 750 vertical industry marketplaces (and counting).
- Six in 10 B2B buyers are doing 26% or more of their B2B buying on Amazon Business.
- More than half of B2B buyers, or 59%, are conducting more than a quarter of their purchases on online marketplaces, according to a new survey of 103 B2B buyers.
- Amazon Business is the dominant marketplace, the industry’s most influential marketplace, and by far the biggest, accounting for about one transaction of every four, Digital Commerce 360 projects.
- Marketplace service provider Mirakl says the gross merchandise volume on the Mirakl Marketplace Platform, which client companies use for first-party and third-party ecommerce sales and drop-shipping, grew 50% year over year in 2023 to $8.6 billion.
- The rollout of these new marketplaces will continue in 2024, and the total number of B2B marketplaces could exceed 1,000 in as soon as two years, Digital Commerce 360 projects.
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