Firms are launching massive sales events to drive B2B e-commerce industry growth in the United Kingdom

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The B2B e-commerce space is growing around the world as more and more retailers are turning to digital channels for sourcing products and inventories. In Europe as well, the B2B market is expected to record strong growth over the next three to four years, amid the growing digitalization of sales channels. Notably, to boost the popularity of the B2B e-commerce marketplaces in the region, firms are launching massive sales events in the United Kingdom. For instance,

• In September 2022, Alibaba, one of the leading B2B e-commerce marketplaces around the world, announced that the firm is launching a B2B sales event, Super September, which is aimed at increasing the popularity of its platform among retailers and merchants in the United Kingdom. Notably, the sales event targeted to connect 40 million buyers with over 200,000 suppliers from around the world, thereby allowing them to discover products, services, and growth opportunities.

Available for business buyers in the United Kingdom, the month-long sales event allowed retailers to access new and innovative products with on-time delivery options. Notably, the prospect of on-time delivery came at a time when business buyers in the country were facing mounting challenges amid the ongoing supply chain disruptions. With businesses losing out on potential customers and experiencing a downfall in customer satisfaction, largely because of supply chain concerns, the Super September event organized by Alibaba became even more lucrative for business buyers in the United Kingdom.

With over 10 million products offered under Delivery by dates features, the event also aimed at boosting customer satisfaction by offering an enhanced level of certainty and reassurance for buyers. Furthermore, the firm is also focusing on offering quality products to buyers in the United Kingdom, and subsequently, has partnered with suppliers from countries with known provenance. For instance, the firm is sourcing wine from France, coffee from Italy, and nuts from Vietnam.

Notably, many players are looking to capitalize on the growing trend of B2B e-commerce in the United Kingdom. The growing digitalization and shift towards online channels have forced businesses across sectors to invest in the B2B e-commerce space. For instance,

• In September 2022, AB InBev, the parent firm of Budweiser Brewing Group, announced the launch of its B2B e-commerce platform, BEES, across the United Kingdom. The platform is expected to provide retailers in the country with a seamless order experience. Initially, the B2B marketplace will be trialed with 100 outlets in the United Kingdom, before expanding the services in 2023.
• Along with a seamless order experience, the B2B marketplace also provides retailers with other benefits such as e-learning modules, revenue management, promotion transparency, and wider product selection. The firm is also making use of artificial intelligence and machine learning to improve customer experience.  According to the firm, 80% of BEES customers make purchases that are influenced by its algorithms. Each week, the platform is handling 1.7 million orders.

From the short to medium-term perspective, more players are expected to launch their B2B e-commerce marketplaces in the United Kingdom, which will further assist the industry growth. Notably, players are also expected to invest in artificial intelligence and machine learning to drive business growth by enhancing customer experience. Furthermore, Alibaba is also expected to conduct more such sales events in the United Kingdom, to drive order volume on its platform and thereby supporting the growth of its B2B segment. Overall, PayNXT360 expects the B2B e-commerce industry to record robust growth over the next three to four years, as more and more retailers turn to digital channels for sourcing products from domestic and international suppliers.