TERRY & SONS UPHOLSTERY CO
LUKE ADAMS, GENERAL MANAGER
SIMON BARTTER CEO DELTAPAK
Having a world class supply chain is critical to URM’s success. QualityTrade.com is by far our preferred platform for sourcing high quality equipment and materials.”
DAVID JOHNSTON, GENERAL MANAGER, URM GROUP
Business-to-business, or B2B, marketplaces are online platforms that connect importers, exports, buyers, suppliers, manufacturers, wholesalers and retailers. They are tailored to enable trade without any intermediaries, benefiting both parties. They improve business efficiency with orders processed digitally and can result in the forming of profitable business relationships.
There are two different types of B2B marketplaces out there and it is important to recognise the differences when making your decision on which one to join.
Supplier-driven marketplaces are open to the general public. This means that as long as you have and email address, you can sign-up and create a profile. There is no regard taken as to whether businesses follow compliance standards, have a good track record, or whether they are even, in fact, legitimate. Buyers aren’t directed to the companies that will best fulfil their needs, instead, the advertising-based nature of these platforms promotes the suppliers who pay the most money. When a buyer goes to a site, they are searching for a supplier for a given product and/or services and are directed to the companies who are paying the most amount of money, rather than those most suitable for trade. This makes it difficult for the customer to find the right supplier.
On the flip side to this are the buyer-drive platforms that direct the buyer to the most relevant and competent suppliers to best meet their needs, rather than those who pay the most money. QualityTrade is an exclusive marketplace that features ISO-certified companies who are regularly audited to ensure they meet compliance standards. We put forward the most competent and relevant businesses with the intent to deliver to the buyers’ needs and creating the safest and most efficient solution for trade.
Before the advent of the internet, B2B marketplaces existed offline and were much less practical and sales were much more difficult to procure. By the early 1990s, online B2B marketplaces were beginning to emerge and were in their early adoption days as businesses slowly warmed to the idea. In 1994, Amazon crashed through the market with the establishment of their online bookstore, which has astoundingly grown to become the most valuable retailer in the United States by market capitalization.
In 1999, China opened their doors to low cost labour, which had a significant impact on the trade industry. They developed their directories, which expanded into portals and marketplaces, however they have maintained the supplier-driven model of advertising based on money.
The supplier-driven marketplaces were the 1st generation. At present, billions and billions of dollars in trade per annum is being directed to low-quality, non-compliant companies online, creating disastrous effects for international buyers.
As anyone with an email address can sign up to these marketplaces, there is no monitoring of the businesses or way to ensure they are actually legitimate.
The 2nd generation are the buyer drive B2B marketplaces, such as QualityTrade. They provide more guidance and connect buyers with high-quality, compliant companies, lowering the supply chain risk and costs involved. They are much more efficient as places of trade and often result in the development of long-term business relationships.
A website submission service where your website is placed in the relevant category to make it easier to search.
Enquiry based service where buyers and sellers can communicate and conduct business.
Facilitates trade between businesses and can result in the forming of long-term business relationships.
Make sure the companies you are looking to enter trade agreements with are legitimate. As explained above, anybody with an email address can sign-up to a supplier-driven marketplace, increasing the risks involved. To make things easier, simply choose a buyer-driven marketplace where the focus is on good-quality, reliable business - such as QualityTrade.
Make sure you fill out your profile. This is your chance to showcase your certifications, share your products and prove to buyers you are legitimate. If you are a certified supplier, choose a marketplace that benefits you. A buyer-driven marketplace like QualityTrade allows you to stand out for the certifications you hold, rather than how much money you put into advertising. This directs you to orders from top businesses from around the world.
As the only online B2B marketplace that features solely accredited, ISO-certified suppliers and manufacturers, QualityTrade works hard to give you a stress free environment in which to purchase your bulk wholesale needs. Each supplier and manufacturer is painstakingly assessed for specific verifications to help you find the wholesale solutions you require. Businesses that can demonstrate they are compliant are rewarded in exposure and sales, which incentivises them to improve and invest in their business, employees, technology, and so on. This helps advance products/service, industries and countries in a forward direction through continuous improvement.