If you believe that shopping cart abandonment is only a B2C thing, then you are mistaken. B2B buyers are customers too, and they have a long list of demands for e-commerce that they would like to see before they make a purchase online. So, a flexible shopping cart must be on your checklist if planning a B2B e-commerce.
Understanding B2B e-commerce
B2B e-commerce refers to transactions and communications between business entities. It often involves buying, transferring, and exchanging goods and services, and in the process; face many challenges like:
- Businesses majorly buy a bulk of products such as raw materials, finished goods, etc. Hence the number of orders/lists are many and parallel.
- The decision regarding purchasing or procurement often involves several rounds of consideration, review, and approval. It is a long process and has a lot of decision-makers.
- Buyers often need to make purchases concerning different departments, events, etc. hence a single cart alone becomes confusing and cumbersome.
- Most businesses purchase the same items regularly. It becomes a tedious task to search and add; the same ones to the cart every month.
- Procurement is often a long process. In a particular order, some items get approved quickly, and some later that results in exhaustion of stocks or loss of good discounts and offers.
- Lastly, payment is the biggest challenge which needs utmost flexibility because B2B buyers explore multiple digital channels for the procurement of required goods and services and are still offering old fashioned payment methods, such as purchase orders, trade credit, paper checks, etc.
In short, unlike retail or B2C e-commerce, a shopping cart is the most complex area for B2B e-commerce. It faces complexities of time, technicalities, organisation etc. which requires a flexible shopping cart as a solution.
What is a flexible shopping cart, and is it necessary to have one?
A flexible shopping cart is simply a shopping cart with multiple carts functionality. Whether you have your licensed shopping cart or it is hosted, it is highly recommended to have one that is flexible to meet the constantly increasing needs and demands of the clients. It can be done through an eCommerce solution providerfor your website or an eCommerce mobile app builder if you have customers frequently using your mobile app. Now, let’s see how will flexibility benefit you as a B2B e-commerce.
Features and Benefits of Flexible Shopping Cart:
There are several features that a business can look for incorporating in their shopping cart experience to tackle the above-mentioned challenges:
Multiple carts functionality: Flexible cart assists in maintaining multiple carts in parallel. So, you can allow a buyer to easily switch between different orders. It is especially helpful in times when approvals are received at different times.
Pricing: Dynamic pricing for each client depending on loyal, frequent and new customers by offering suitable discounts and other promotional offers is possible.
Product management: Easy access to inventory reports. If stocks are less then that can be indicated by showing the date by when the product will be stocked up. It will give more clarity to clients, and they can place orders accordingly without abandoning the cart.
Order management: It allows real-time tracking of orders from the time it is purchased to the time it is delivered. Also, storing the order information so that buyers can buy the same order again, along with the capacity to change some of the items in the order, is again a very important feature.
Bulk order: Allow your wholesalers to buy in bulk to make their experience as quick as possible. Being able to upload the list of products simply by copy-pasting from a spreadsheet or entering the SKU number is a life-saver for many. It gives a friendly and easy way to work through their orders as it saves a lot of time.
How can you achieve it?
With businesses turning online due to COVID-19, numerous e-commerce solution providers are now available in the market offering quick and cheap solutions, so beware. In a rush, don’t fall for any fraudsters. Choose a well-reputed and prominent Magento app builder who understands your needs and requirements and provides you with the much-needed solution.