Call it privatization, globalization, liberalization, industrialization or digitalization, the wholesale market in India that existed a decade ago cease to exist now. There are innumerable software, technologies and innovations to make life simpler. However, these advancements have also got along with them a sense of competition amongst the service provider and the wholesale industry is not an exemption. The growing competition requires the acceptance of the breakthrough technologies in the business in order to grow it or even sustain it.
These technologies will help wholesalers in:
- Better E-procurement Process
- Customer Personalization
- Product Information and Catalogs Maintenance
- Flexible Framework
- Analysis and Reporting
For this, the business which takes a plunge to get the “first mover advantage’ would benefit in the era, which is moving towards a hundred percent ‘digitalization.’ Below are the four ways in which the digital technologies are affecting the ‘wholesalers’ world.
- Hyper-Connectivity: In the 21st century, everything is super-connected. This leads to more information, more resources and hence more competition amongst the sellers. A seller who is well-connected with the network of B2B business has an advantage over the others. This is where the digital B2B directories are helping the wholesalers to grow beyond their coordinates and network.
- Smart World: With economies being digitalized or moving towards digitalization, the world is getting smarter in terms of connections and options. Everyone is just a search result away on Google. This is highly advantageous for the wholesalers who can tap a global market in the minimum time, involving the least number of resources.
- Omni-Channel Creation: The wholesale market in India is extremely scattered. Buyers move from one seller to another in order to compare the price and the quality of good/materials. An omni-channel or a single marketplace for all the buyer’s need makes it easier for businesses to get more clients. Also, they can access their product against the prices that they offer in a marketplace set up. A single channel helps in better procurement procedures and highly effective sales strategy.
- Quick and Easy Order Processing: The online e-commerce system gives the buyers the convenience to access catalog, to get information, to get a personalized quotation for the required quantity and to place the order independently. As wholesalers in the market recognize these potential offerings of the e-commerce economy, they are moving towards online sales for Faster transactions, minimum gestation period and better customer satisfaction.
All this leads to:
- Price leadership
- Service Originated Wholesale Economy
- Single Platform for all Dealings
The benefits of digital B2B integration for the all-new “wholesaler’s economy” lies in the automation of the manual processes, which will eventually result in the improvement of efficiency and data consistency while bringing the overall costs down.
B2B e-commerce solutions can contribute to the B2B integration in a way that it gets easier to harmonization the whole processes while integrating the existing infrastructures.
These digital solutions provide the technical foundation for amalgamating end-to-end processes which will help in complete upgradation of the buyer-seller economy or the wholesale market in India.
