Shopify has solidified its position as a dominant force in the B2C market, boasting a staggering $55 billion in quarterly merchandise value as of Q2 2023. Notably, the platform has also emerged as a leading choice for sophisticated B2B brands, driven by its robust e-commerce infrastructure and regular updates. Discover whether Shopify aligns with your enterprise e-commerce requirements through this comprehensive guide from Coalition Technologies.
B2B operations, while seemingly straightforward, encompass a diverse array of activities. Shopify supports all major variants, including:
To simplify, let’s highlight some general attributes of B2B e-commerce on Shopify.
The Winter ’24 Edition marked the platform’s latest significant update, introducing groundbreaking features for both B2C and B2B merchants. We’ll delve into the two most significant changes for B2B merchants.
While updates are always welcomed, B2B merchants require a reliable platform equipped with tailored features to support intricate operations from the outset. Let’s examine Shopify’s B2B e-commerce capabilities in greater detail.
Versatility is key in the B2B landscape, where corporate relationships can be a valuable asset. B2B stores can capitalize on the platform’s integrated support for custom pricing to establish distinct tiers for enterprise customers. This enables managers to set varying prices based on factors like order quantities and shipping distances.
Integrated support for this B2B Shopify feature eliminates the need for additional plugins. For instance, a clothing wholesaler can provide a 20% discount on all orders over $750 by accessing the ‘Price Lists’ tab in their Shopify dashboard.
E-commerce order fulfillment times have been estimated at approximately 2.4 days by the end of 2021, a figure that has likely decreased further with the rise of quick commerce. Fast order fulfillment is now the norm, catering to both individual consumers and enterprise buyers. Shopify’s robust inventory management features facilitate this expectation by enhancing the customer and manager experience.
Despite the emphasis on integrated features, Shopify remains a flexible B2B e-commerce platform. It offers comprehensive support for headless e-commerce and customer-specific product publishing, enabling B2B merchants to craft unique experiences for each client.
For example, if your B2B business sells products to a school, a large office, and a restaurant, each buyer has distinct needs and budgets. As a Shopify B2B merchant, you can leverage customer-specific product publishing to create customized catalogs for each buyer, featuring products most relevant to them with prices automatically adjusted based on the buyer.
Shopify’s native support for global expansion simplifies international sales with features such as:
– 92% of online shoppers prefer purchasing products in their local currency. With automatic currency conversion, you can tap into global demand without manually localizing your store for each region.
Shopify’s B2B solution acknowledges the importance of payment flexibility. Cash flow issues, cross-border payment barriers, and security concerns can all cause delays in the purchase process. Merchants can utilize the payment terms feature to assign a payment period for buyers, ranging from checkout to up to 90 days after checkout, or at the time of fulfillment.
Support for various payment methods and credit card vaulting ensures a smoother re-purchase experience for buyers, particularly valuable for B2B e-commerce transactions that often recur.
The substantial updates, powerful customization, and user-friendly interface make Shopify an formidable platform for enterprise operations. Complex B2B brands can now establish their presence and initiate shipping almost immediately, with the B2B experience poised to improve further with incoming updates.
Maximize your Shopify store’s potential with a bespoke e-commerce solution designed to boost conversions. Contact Coalition Technologies today for a complimentary strategy review, and learn how our e-commerce experts can help you create a truly unique B2B experience.
