Companies are picking up on selling products to consumers directly. Retailers and wholesalers are concerned about the trend, but there is not much they can do because the internet facilitates it. B2B wire and cable distribution is one such field. It is a sea change because until recently, manufacturers would not compete for business with their customers.
Clarity on B2B buying
B2B buying or buying from manufacturers directly without an intermediary like a retailer or a wholesaler is increasing because manufactures have started realizing that they no longer need retailers to act as conduits with consumers. Before the emergence of internet, manufacturers had no option but to sell through retailers and wholesalers, but not anymore. Now companies do not even have to open retail outlets. They can just sell through the internet. For manufacturers, it is also an opportunity to connect with their customers directly.
Business to business buying helps producers in power cord manufacturing in automating business processes with suppliers and customers. It further increases internal efficiencies with minimal cost. However, B2B buying also has its demons. B2B marketplaces manufacturers have not be able to shake off their reliance on retailers and wholesalers.
Why B2B wire and cable distribution is a good option
Saves time – B2B buying arranges faster acceptance, tracking of savings and order processing. You also get access to the original suppliers, easier now because there are no geographic fences. Your customers are from different locations so your revenues and business continue to grow.
Increase in sales – For wire and cable manufacturers, the marketplace becomes wider, giving them an opportunity to increase their revenue. B2B wire and cable customers also show more loyalty than customers from the B2C sector. One of the factors is customers are committed to you through individual agreements and contracts. For the manufacturer, it means decrease in costs towards acquiring customers and long-lasting relationships with customers.
Reduction in sales and client backing costs – Automation of sales and backing costs can help manufacturers to cut associated costs by up to 40 percent.
Reduction in elevated costs – The supply string becomes sleek. As as result, elevated costs can be cut by nearly 30 percent.
Increase in transaction value – Shopping carts in B2B commerce are also bigger because companies usually give large orders. The average value of transactions increase and with it, the revenue.
B2B wire and cable distribution is basically an additional distribution channel. As your customer base increases, more people become aware of your company. It can help you establish your brand online, especially if you use a SEO online store.