A seller-free buying preference is pushing B2B sales online, with 80% of all B2B retail expected to be done through ecommerce channels by 2025. We are seeing this significant shift happen and more buyers expecting the D2C experience, despite previous industry-specific purchase models. And now, Shopify has listened to this demand.
B2B on Shopify has upgraded B2B online commerce - and over the next year they’re committing to creating a more fluid experience which will bring the power of Shopify Plus to wholesale!
B2B on Shopify will harness the power of Online Store 2.0 and combine the D2C experience that we expect from Shopify with the demand of wholesale. They have announced some pretty exciting features which will enable B2B companies to create personalised online experiences for different merchants with an improved look at customer profiles and pricing structures.
What is new with B2B on Shopify?
Combine B2B with D2C in one online store.
Harnessing the power of Online Store 2.0, ecommerce giant Shopify has made it possible to combine both your B2B and D2C shops into one online marketplace. This new feature allows businesses of all sizes to run both sides of their enterprise from one place, marrying the complexity of B2B with the look and feel of D2C. The choice is ultimately yours - you can either combine your website to create one cohesive master store or provide wholesale customers with their own dedicated website. This allows you to manage both sides of your business in different ways using one award-winning platform.
Buyer & Company Profiles
Introducing company profiles. New to B2B on Shopify, company profiles will help businesses tailor experiences based on their unique needs and buying habits. These company profiles will include specific content tailored to the company as well as individual price lists, payment terms and tax exemptions. And not only that, for companies who have different levels of seniority you can create multiple contacts within the profile, all with different permission levels. These new company profiles will help to keep buyers in one place, making it easier for your teams to manage.
New Customer Accounts Reduce Support Time
Not only have company profiles made it easier for buyers to access their own pricing, new customer accounts means that B2B customers have access to all their account information including previous order history. Customers can update and edit their own account, making changes to key areas such as location, and account information creating a more seamless experience for business updates including new staff and new regions.
Easy-to-use Price Lists
Pricing on B2B has long been a point of contention, with different companies using different currencies, having different pricing structures and qualifying for bespoke deals. With the updates to B2B on Shopify, the number one ecommerce platform has improved their price lists. Wholesale merchants can now create custom pricing which can be assigned to specific companies and regions. This means that for the first time B2B stores will be able to sell in multiple currencies in one store and offer bespoke pricing to companies to make the whole pricing process much more fluid & efficient.
Improved B2B Analytics and Reporting
Running both B2B and DTC on one platform means that reporting and analysis can also be done in one place. Shopify’s new B2B-specific filters mean that you can run reports which provide insights into how your wholesale business is performing without being skewed by your D2C business - these new B2B filters will be available on sales, orders, profit margin, customers, and finance reports. And with the same functionality that you expect from your traditional Shopify reports, providing in-depth analysis on wholesale has never been easier.
When can we expect to see these new features?
Shopify dropped this amazing B2B update back in June 2022, but it doesn’t stop there! Over the next year we can expect to see some super cool features and updates to further enhance the wholesale experience. As we move into 2023 and beyond the expectation for a more streamlined and more “D2C” style wholesale business model will become more intense and we expect to see Shopify’s already groundbreaking B2B features follow this upward trend.
Not only that - B2B on Shopify comes as standard for those already using Shopify Plus. This means that not only can you begin using these features today if you’re a wholesale business, many DTC businesses can begin looking to the future, to expand into the B2B marketplace - an area of ecommerce which is set to reach an estimated US$ 18,771.4 billion by 2027.
Looking to upgrade to Shopify Plus? Get in touch with our Shopify experts today!