Khumbaya announces the launch of B2B market place

An online B2B marketplace is a place where multiple buyers and sellers engage in digital commerce. Just like popular B2C destinations multiple manufacturers, suppliers, wholesalers, and retailers connect with multiple business buyers on B2B marketplaces to conduct commerce.

They go by different names, such as multi-vendor stores, digital exchanges and purchasing portals. There are also many types: global, which offer all types of products; vertical, which offer products of the same type; horizontal, which offer different products but with similar characteristics; and hybrid, where merchants offer their own products and allow third-party sellers.

Marketplaces offer many advantages for merchants, vendors, and customers. Merchants typically take a commission from vendors that sell products on the marketplace, which can be a fixed amount or calculated as a percentage depending on how every deal is structured. Vendors gain visibility and recognition which, as buyer demand grows, results in more sales. Customers have a greater choice of quality products, more consistent service, and more reliable order fulfillment.

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Scalability for merchants

For merchants, creating a B2B marketplace follows many of the principles of launching a B2B eCommerce website. A scalable business model with a distinct value proposition, a B2B marketplace attracts a variety of B2B or B2C brands without the need to invest into physical stores and supply management infrastructure. B2B marketplace software allows for the ultimate flexibility to meet the market place owner, the vendors and the buyers needs.

Faster time to market for vendors

B2B marketplace platforms make it easy for smaller vendors to go to market and save on their own eCommerce presence development costs. Additionally, a marketplace provides access to a large pool of customers for vendors with limited marketing budgets. For bigger and established B2B brands marketplaces are great for testing new products and gauging demand. It is also an easy option to expand and sell to new customer segments and global markets without worrying about localization of their own websites.

Convenience and security for buyers

For buyers, a marketplace means more choice: it gathers multiple offers and prices from different vendors in a single place. The convenience of choosing the best product, price, and service attracts even more customers to the marketplace. Additionally, buyers feel secure buying from one and the same website even though it might mean different vendors. In B2B space where you quite often do not find a lot of user-friendly eCommerce websites yet, turning to a marketplace that would bring all the industry-specific vendors in one place is a huge relief for B2B buyers.

Khumbaya B2B marketplace features

Product import & export

Import products from and export products to CSV from your vendor dashboard.

Inquiry & support ticket

Interaction with sellers help buyers to make better purchase decisions.

Shipment & delivery

Share tracking of deliveries, notify when shipping status changes.

Category wise attributes

Vendors can add attributes to the products and map them to relevant categories.

Live chat

Khumbaya market place allows customer-vendor spontaneous communication and hence helps to respond to the queries of the customer faster and drive more sales.