The Philippine market has experienced a tremendous upswing in B2B eCommerce in recent years, and businesses are taking notice. With technology and digitalization at the forefront of modern commerce, it’s no wonder that companies are turning to eCommerce to stay ahead of the competition. Utilizing B2B eCommerce for your business in the Philippines may give you the competitive advantage you need to get that “big break”. And let’s face it, who doesn’t want to be the big cheese in their industry?
That’s why we’re here to spill the tea on fifteen ways that B2B eCommerce can change the way you operate your business, giving you a serious competitive advantage and help you achieve industry supremacy. If you’re thinking that this article will only provide ordinary benefits like increased productivity, cost savings, let me cut you there. We’re here to talk about a whole new world of time saving opportunities, the possibilities of increasing your profit, and how your business can unlock its full potential.
If you’re ready to unlock your business’ full potential and reach peak industry supremacy, let’s explore together how B2B eCommerce can give your business in the Philippines a competitive advantage. But first, let’s take a look at the eCommerce standing in the Philippines.
Ecommerce in the Philippines
The eCommerce industry in the Philippines over the recent years has been significant to day-to-day shoppers. With the acceleration of technology, mobile phones, and the availability of the internet, especially during the COVID-19 pandemic, eCommerce is the key driver to retail and sales growth while we’re on lockdown.
Another key factor in the growth of eCommerce in the Philippines is also the uptrend use of social media platforms for buying and selling. According to a study by Meltwater,
84.45 million of the population of the Philippines are social media users from ages 16-64 which rounds up to 72.5% of the total population. The study suggests that 44.1% of the population find inspiration for things to buy on social media, while 37% use social media to find products to purchase. Additionally, 33.5% view content from brands on social media. Many Filipino consumers use these platforms to buy and sell products. In fact, Facebook Marketplace has become a popular channel for small businesses to reach customers and generate sales.
The future trend of eCommerce in the Philippines
Did you know that 74% of businesses in the Philippines have yet to embrace digital transformation? By transitioning to digital solutions, businesses can unlock untapped potential and reach new heights of success.
The Department of Trade and Industry (DTI) estimates that eCommerce in the Philippines could reach a market value of $285B dollars if more businesses make the transition to digital. This presents a significant opportunity for those who take advantage of it.
Going digital can benefit your business in numerous ways. By embracing eCommerce, you can reach new customers beyond your local area, expand your market reach, and increase revenue. Additionally, transitioning to digital solutions can help streamline your operations and improve your overall efficiency while maximizing your resources.
15 Advantages of B2B eCommerce for Business Success in the Philippines
- Gets your business online
Ecommerce refers to the buying and selling of goods and services over the internet. With ecommerce, businesses can establish an online presence and reach customers from anywhere in the world, 24/7. Ecommerce platforms typically allow businesses to showcase their products or services, accept payments online, and handle shipping and logistics. Utilizing a B2B eCommerce platform places your business in the online marketplace. Not only that, but almost all of your operations will be done online.
As we’ve mentioned above, 74% of businesses in the Philippines have yet to embrace digital tools for their business. The advantage of going online can unlock great potential for business in the Philippines and take your business to great heights.
- It’s fast, convenient, and accessible
B2B eCommerce has the potential to be a game-changer for businesses in the Philippines, with its speed, convenience, and accessibility providing numerous benefits to companies. One of the key benefits of B2B eCommerce is the ability to process transactions quickly and easily online, without the need for time-consuming in-person interactions. This allows businesses to process orders faster, reducing the time and effort required to complete transactions. By streamlining the purchasing process, businesses can save valuable time and resources, which can be reinvested into other areas of the company.
- Increased market reach and customer base
Increased market reach and customer base are two of the most significant benefits that B2B eCommerce can offer to businesses in the Philippines. With a B2B eCommerce platform, businesses can expand their reach beyond their physical location, potentially reaching customers across the entire country, or even the world. This can provide businesses with access to a much larger customer base, creating opportunities for increased sales and revenue. By increasing their customer base and potential revenue streams, businesses can achieve greater financial stability and the ability to invest in future growth.
- Improved customer experience
Improved customer experience is another significant benefit that B2B eCommerce can offer to businesses in the Philippines. By providing an easy-to-use and streamlined online platform, businesses can offer their customers a more convenient and efficient way to purchase or sell products and services.
A B2B eCommerce platform like Shoppable Business allows customers to look for products with its product comparison technology, enhanced filtered search results (when customers search for products, it only shows relevant products in the search results), making it easy for buyers to look for the products they need.
For sellers, Shoppable Business offers a single product catalog listing where sellers can easily list an item without having to re-create an item that already exists in our product catalog, allowing sellers to list products faster in Shoppable Business.
- Streamlined sales process
The sales process of a business can be very challenging and it all depends on the products you sell and the niche you’re trying to sell to. In common business knowledge, the sales process requires a series of stages before closing the deal to customers, which includes prospecting, lead generation, lead qualification, needs analysis, proposal development, closing, and follow-up.
In the context of B2B eCommerce, a streamlined sales process can be particularly beneficial, as it can help to improve the efficiency of the sales process and drive more sales. One key advantage of B2B eCommerce is the ability to automate many aspects of the sales process, from lead generation to customer onboarding and beyond.
A great example would be where businesses can use targeted digital marketing campaigns to generate leads and drive traffic to their eCommerce site. Once a lead lands on the site, they can be presented with personalized product recommendations based on their browsing history and other factors, making it easier for them to find and purchase the products they need.
- A platform for digital marketing
B2B eCommerce can also help businesses reach customers that they may not have been able to access through traditional sales channels, such as through trade shows or word of mouth. Through online marketing efforts such as search engine optimization (SEO) and targeted advertising, businesses can effectively reach potential customers who are actively searching for the products or services they offer.
A B2B eCommerce platform like Shoppable Business, implements search engine optimization (SEO) to enhance the visibility of products and services on their marketplace. By optimizing product listings for search engines, Shoppable Business improves the chances of your products being easily found by customers searching for what they need.
Shoppable Business also allows for brands to pay for advertising where your products are advertised around the marketplace for people to spot your brand and products. The great thing about it is you only pay once you make a sale through your ads, making it a cost effective strategy to advertise your brand and products.
- Better inventory management
Another one of key benefits of B2B eCommerce platforms is the ability to automate many aspects of inventory management, from tracking stock levels to generating purchase orders and reordering products automatically when inventory levels reach a certain threshold. This can help businesses to reduce the risk of stock outs, minimize overstocking, and avoid tying up capital in unsold inventory.
B2B eCommerce platforms like Shoppable Business also provide real-time data and insights on inventory levels, allowing businesses to monitor stock levels and adjust their inventory management strategies accordingly. This can be particularly useful for businesses that deal with a wide range of products, as it can be challenging to keep track of inventory levels manually.
- Faster fulfillment times
Faster fulfillment times is another advantage of utilizing a B2B eCommerce platform for your business in the Philippines. One key benefits of B2B eCommerce platforms is the ability to automate many aspects of the fulfillment process, from order processing and tracking to shipping and delivery. This can help businesses to reduce errors and delays, and ensure that orders are fulfilled accurately and quickly.
B2B eCommerce platforms like Shoppable Business also offer a range of shipping and delivery options, allowing businesses to choose the most efficient methods for delivering their products to customers. This can help to reduce shipping costs and transit times, improving the overall customer experience.
Shoppable Business offers a Fulfillment by Shoppable program, where we can help you cut costs and deliver faster using our technology and infrastructure. Your business won’t need long-term rentals and hiring full time employees since Shoppable Business can take care of your fulfillment needs. Shoppable Business can also provide you with warehousing and fulfillment solutions so you can expand your brand to different locations enabling you to get products delivered faster to your customers.
- Quickly adapt in a competitive environment
In today’s rapidly changing business landscape, the ability to adapt quickly to new trends and technologies is essential for success. B2B eCommerce platforms also provide businesses with real-time data and analytics, allowing them to track customer behavior and preferences, monitor sales trends, and make data-driven decisions about how to optimize their offerings and stay ahead of the competition.
Another benefit of B2B eCommerce platforms is the ability to integrate with other systems and technologies, such as accounting software, inventory management tools, and shipping and logistics providers. This allows businesses to streamline their operations and automate many of their key business processes, freeing up time and resources to focus on other areas of the business.
Shoppable Business offers flexible subscription plans to businesses, enabling them to customize their plan according to their specific needs and pay only for the features they require. This approach allows businesses to avoid overspending on unnecessary features and only subscribe to a plan that perfectly fits their requirements, ensuring they get the best value for their money and allowing them to adapt as they grow their business both short and long term.
- Faster transaction process
With existing digital payment method technology such as e-wallets, debit/credit card online payment, utilizing a B2B eCommerce platform like Shoppable Business streamline the transaction process, making it faster and more efficient for businesses. With the ability to conduct transactions online, businesses can complete orders and payments quickly, reducing the time and effort required for manual processing. This improved transaction process also minimizes errors and enhances accuracy, resulting in a smoother experience for both buyers and sellers.
- Enhanced customer and data analytics
Utilizing a B2B eCommerce platform can also provide customer data analytics tools where you can view your overall business performance, sales, customer data such as demographics, preferences, and much more. Through data analytics, businesses can identify trends and patterns, optimize their product offerings, and improve their overall customer experience. B2B eCommerce platforms also offer a range of data visualization tools, generate reports and dashboards, making it easier for businesses to monitor their performance, identify opportunities for improvement, and make data-driven decisions. By leveraging the power of data analytics, businesses can stay ahead of the competition, deliver exceptional customer experiences, and achieve sustainable growth in the long term.
- Digitize your Procurement Process
You can say goodbye to the tedious and stressful traditional ways of procurement and say hello to automated and streamlined digital procurement through a B2B eCommerce platform. A manual procurement process involves a lot of paperwork and can be time-consuming, leading to delays and errors. By digitizing the process, businesses can streamline the entire procurement cycle, from requisition to payment, reducing the need for manual intervention and improving the speed of procurement activities.
With a digital procurement system, businesses can also automate repetitive tasks such as purchase supplier prospecting, re-ordering and invoice processing, freeing up staff time for more value-added activities. In addition, digitization can help businesses reduce the risk of errors by ensuring data accuracy, standardizing processes, and providing real-time visibility into procurement activities. By eliminating manual processes and reducing paperwork, businesses can save on administrative costs and reduce the risk of errors that can lead to additional costs such as penalties and rework.
- Re-order products on a timely basis
In traditional B2B sales, the ordering process is typically manual, requiring a phone call, email, or fax to place an order. This process can be time-consuming and error-prone, leading to delays in receiving products and potential stock outs. With B2B eCommerce, businesses can place orders quickly and easily online, with real-time inventory updates and order tracking.
By using B2B eCommerce, businesses can benefit from automatic re-ordering processes to ensure that they get their products they need, even before they run out of inventory, making sure your operations, production, and sales run smoothly. These processes can be set up based on specific timelines, inventory levels, or customer demand. For example, a business might set up a process to automatically reorder a product when inventory levels reach a certain threshold, or when a customer places a recurring order.
- Buy in bulk with quantity discounts
One of the key benefits of B2B eCommerce is the ability to buy products in bulk with quantity discounts. B2B eCommerce platforms typically offer volume-based pricing, which means that the unit price of a product decreases as the quantity ordered increases. This allows businesses to save money on their purchases by buying in bulk. For example, a business might receive a 10% discount when they order 100 units of a product, and a 20% discount when they order 500 units.
By buying in bulk with quantity discounts, businesses can increase their purchasing power and save money on their purchases. This can help businesses reduce their costs and increase their profitability. In addition, B2B eCommerce platforms often offer real-time inventory updates, which can help businesses plan their purchasing and take advantage of quantity discounts when they become available.
- Bonus: No collateral business financing
No collateral business financing is a type of financing that does not require borrowers to pledge collateral such as property, equipment, or inventory. Instead, lenders rely on other factors such as the business, or in this case, the borrower’s cash flow and sales to assess the borrower’s ability to repay the loan. In the context of B2B eCommerce, no collateral business financing can be a valuable option for businesses that need capital to grow and expand their operations.
One of the main advantages of no collateral business financing is that it can help businesses overcome the barriers to traditional financing. But with Shoppable Business’ no collateral business financing can provide flexible options for businesses that need capital for short-term or seasonal needs. For example, a business might need financing to purchase inventory for the holiday season, and then pay off the loan with the increased revenue from holiday sales.
Shoppable Business: The B2B eCommerce Platform you need for your Business in the Philippines
Shoppable Business can provide the help of getting your business online in the Philippines. You can buy bulk products in quantity discounts with Shoppable Business’ procurement technology for everything your business needs such as supplies, equipment, production materials through thousands of vetted suppliers that offer 100% authentic products guaranteed.
For sellers, Shoppable Business can help your business sell and market your products online through its single product catalog listing, help businesses grow through no collateral financing, fulfillment services for faster deliveries, and partnered with banks in the Philippines for secured online payment transactions.
Why become a Seller in Shoppable Business
- Access to large customer base – giving businesses opportunity to expand their reach and increase sales
- Increased visibility and brand awareness – a platform for businesses to showcase their products/services and potentially attract new customers
- BNPL (Buy now, Pay later) – grow your ASP, buyers/companies can apply for loan up to ₱150,000.00
Why become a Buyer in Shoppable Business
- Wide product selection from different categories – one stop shop solution for businesses procurement needs
- Save company time and money – Customized orders, RFQ for specific quantities, bundles, configuration, Track their orders, view purchase history
- Need it now but limited budget – BNPL apply and get up to ₱150,000.00
Takeaway
Transforming your traditional business ways to modern and digital transformation is a huge leap forward. It can be intimidating and challenging but with the right tools you can take your business to the next level. The benefits of B2B eCommerce for businesses in the Philippines are clear, and the opportunity for growth is immense. Don’t let your business fall behind in the digital age. Take the first step towards digital transformation today with Shoppable Business and unlock your business’s full potential.
Shoppable Business is ready to take the necessary steps to digitize your business and in transforming the eCommerce industry in the Philippines, particularly the B2B market.
Talk to us and we’ll get your business started in its first step to digital transformation. Visit us today at business.shoppable.ph today!
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