Showing posts from September, 2020

Accelerating Digital Business with Enterprise Marketplaces using Sitecore Experience Cloud Part 2: Why a Enterprise Digital Marketplace

  The in the race between linear vs exponential growth, the point of inflection is where disruption happens. So let's take the example of one of the most prominent disruptor in marketplaces, Amazon. Amazon Business, the company's enterprise marketplace (B2B) formally launched in 2015 (originally in 2012) and 1 year later it disclosed $1B in revenue. It then only took 3 years to grow from $1B to $10B in sales in sales, compared to AWS which took 10 years to achieve the same milestone. Today, 55 of the Fortune 100 companies purchase products through its business marketplace and B2B revenue is expected to overtake B2C side of the business. Gartner's research findings: As of early 2019, only 56 percent of B2B companies had an e-commerce site — and only 11 percent had a marketplace. By 2023, at least 70% of the enterprise marketplaces launched will serve B2B transactions. By 2023, organizations operating enterprise marketplaces for 1 year will see at least 10% increase in net