Jun
03
What is B2B (Business-to-Business) Fashion Commerce?
Regardless if they’re online, offline, or click-and-mortar companies, all fashion stores are in need of a supplier that can offer them merchandise they’d be able to sell to their customers. This is where the B2B business model comes into play as it includes an exchange of services between two businesses. B2B fashion commerce, short for business-to-business, is exceptionally significant in the clothing retail industry since it allows for business transactions of products among companies to take place.
Because of the important role it plays, B2B appears to have become one of the most popular business models not only in the apparel market but also in many other niches, displaying a high increase in value worldwide. To illustrate, as stated by a research conducted by Statista, the value of the European B2B eCommerce market is estimated to surpass 1.8 trillion USD in the next three years. Another report by Statista reveals that the US B2B eCommerce sales have also significantly increased from 2019, amounting to almost 11,000 billion USD as of 2021.
In addition to these statistics, Grand View Research introduces one more study based on a global level, claiming that the international B2B eCommerce market size is expected to grow by almost 20% in the period 2022-2030, reaching over 30,000,00 billion USD by 2030.
However, in order to better understand what has contributed to these staggering numbers and how does actually the B2B fashion commerce functions, we’ve provided you with a detailed explanation of what B2B entails, and have made a comparison between the B2B and B2C models. In addition, we’ve supplied you with an example of a successful B2B company and a thorough description of how this company operates and what advantages you can expect to enjoy by collaborating with them in order to offer your own fashion business only the best of services.