B2Bs Redefine International Trade

While the mesmerizing world of e-commerce gave birth to Business to Consumer (B2C) portals or otherwise known as e-tailers, the business world believed that these portals will be the ultimate tool in global trade. In the course of time, the B2Cs began to show signs of limitations, the way it could function. It literally turned the usage "consumer" in singular or smaller group sense. Eventually, businesses went back to their earlier practices of connecting with other businesses in the conventional manner. In a globalized and internet world going back to ancient trading methods were preposterous and the trading community felt that they needed a concept or process which could make things easier for them to do international trade.

 

B2C gradually metamorphosed into Business to Business (B2B) portal which went on to become the most effective tool in international trade. Today if one makes a background check on any overnight success in exim business, one can find the supporting arms of one or many B2B portals. B2Bs became a run away success because it was able to provide comprehensive solution for anyone's exim business just being in one's office. Besides, the traders were able to bring down the cost of their products or/and services to bare minimum because they spent very less on finding new prospect/s through B2B's. Some of the top B2B portals in the world provide more information about one's business activities in their respective B2B profiles than one's company website. While company website functioned as web shop of one's products or/and services, B2B profiles of one's company served as feeders to one's web shop.

 

Even though B2Bs have done a world of good to international trade, they have not derived the right place in the world of business so far. Perhaps one reason for that could be, when compared to other services or concepts, B2B transactions are immeasurable. That is because there is no mandatory clause that makes the trader to provide data once the deal is through. Since the industry has not grown to the level of imposing rules, it is unlikely to draw the value and volume of the transactions take place on these portals. Once a viable mechanism to measure the value and volume is in place, the traders will be induced to seek the services of B2Bs without any hesitation regardless of region or size.

 

The goal of B2Bs is to unify the trading world and all the top portals are striving hard to provide simple solution to the traders for their trading needs. B2Bs have shown the world that businesses of any size can do business without any go between and enabled the traders to minimize the cost and time involved in international trading. Initially B2Bs' image was tarnished by quick buck solution providers who attracted gullible traders by promising the moon. Those portals either vanished or became namesake entities. But the B2B majors are getting stronger and indispensable factor in exim business. The day is not far away the B2B space in e-commerce to be ruled by few players. In such a scenario it will certainly help every trader regardless of size to utilize the services of all the available portals.