Online Marketplaces: Threat or Opportunity for the Channel?

The growth of B2B online marketplaces is evident. Driven by changing purchasing habits and expectations, the channel may consider them both a threat and an opportunity.

McKinsey notes that “COVID-19 has changed B2B sales forever”. Its 2020 research shows that more than 75% of B2B buyers say that they prefer buying online. Importantly for partners, they prefer remote interactions with sales representatives over traditional in-person interactions.

The use of online marketplaces is also not restricted to smaller-ticket items. Seventy percent of B2B decision makers say they are open to making new, fully self-serve or remote purchases of more than $50,000. Twenty-seven percent would spend more than $500,000.

So what does that mean for the channel? Here both vendors and distributors share their thoughts on online marketplaces. See our slideshow above to find out if they think they pose a threat or opportunity for their businesses.