One of today's largest retail opportunities is investing in a B2B channel. With the B2B market expected to hit $18.57 Trillion in revenue by the end of 2026, retailers will benefit by prioritizing these buyers to get and stay ahead of the competition. Plus, many retailers are already selling to businesses without knowing the full extent—things like candy and coffee to furniture and electronics are being purchased for business use, meaning there are likely already hidden B2B buyers in their B2C sales channels.
However, it’s not enough to say you’re open for B2B business—these buyers have unique purchasing preferences that must be met. For starters, credit cards often don’t cut it for larger purchases like a new hiring wave that requires dozens of laptops plus displays, cables and chairs. B2B buyers prefer to pay with trade credit, and 4 out of 5 would pick a vendor that offers 30-, 60- or 90-day terms at checkout. If retailers want to attract and retain these buyers, they must support the processes and methods of payment that they prefer. Doing so will enable business buyers to buy more, more often, optimizing trade and loyalty for retailers.
TreviPay's new playbook, "Expanding into B2B: 5 Tips for Success," helps retailers understand how to grow their B2B sales successfully. Readers will learn how to recognize the B2B buyers they may already have, address their pain points and accelerate sales, make the business case for a B2B payments strategy and more.
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