7 Reasons Why B2B Stores Need Expert Export Management

B2B stores are online platforms that connect businesses with other businesses, allowing them to buy and sell products or services across borders. However, running a successful B2B store is not as easy as it sounds. There are many challenges and risks involved in international trade, such as customs regulations, shipping costs, currency fluctuations, payment methods, quality control, and legal issues. That’s why B2B stores need expert export management to help them navigate the complex world of cross-border commerce.

Export management is the process of planning, organizing, and executing the export activities of a business. It involves identifying potential markets, finding suitable partners, negotiating contracts, arranging logistics, complying with regulations, managing risks, and resolving disputes. Export management can be done by the business itself or by an external service provider.

Here are seven reasons why B2B stores need expert export management:

1. To save time and money

Exporting can be time-consuming and costly, especially for small and medium-sized businesses that lack the resources and expertise to handle all the aspects of international trade. By outsourcing export management to a professional service provider, B2B stores can save time and money on research, documentation, transportation, insurance, taxes, and fees. They can also benefit from the economies of scale and lower rates offered by the service provider.

2. To access new markets and opportunities

Exporting can open up new markets and opportunities for B2B stores that want to expand their customer base and increase their sales. However, entering a new market requires a lot of research and analysis to understand the customer needs, preferences, behavior, culture, and legal environment. By hiring an expert export manager, B2B stores can gain access to valuable market intelligence and insights that can help them tailor their products or services to the local demand and expectations.

3. To reduce risks and uncertainties

Exporting can involve a lot of risks and uncertainties, such as currency fluctuations, political instability, trade barriers, fraud, theft, damage, loss, or delay of goods. These risks can affect the profitability and reputation of B2B stores. By working with an expert export manager, B2B stores can reduce these risks and uncertainties by using reliable payment methods, securing adequate insurance coverage, choosing reputable partners and carriers, tracking shipments, and resolving disputes.

4. To comply with regulations and standards

Exporting can require compliance with various regulations and standards imposed by the exporting and importing countries, such as customs duties, taxes, licenses, permits, certificates, inspections, labeling, packaging, quality control, and safety. These regulations and standards can vary from country to country and change frequently. By relying on an expert export manager, B2B stores can ensure compliance with these regulations and standards by obtaining the necessary documentation, following the correct procedures, meeting the requirements, and avoiding penalties or fines.

5. To enhance customer satisfaction and loyalty

Exporting can enhance customer satisfaction and loyalty by providing B2B stores with a competitive edge over their rivals. By offering high-quality products or services at competitive prices, delivering them on time and in good condition, and providing excellent after sales service and support. By partnering with an expert export manager, B2B stores can improve their customer satisfaction and loyalty by ensuring smooth communication, handling customer inquiries and complaints, and providing customized solutions.

6. To build trust and credibility

Exporting can build trust and credibility for B2B stores by demonstrating their professionalism, competence, and reliability in the international market. By adhering to ethical practices, respecting cultural differences, and honoring their commitments. By collaborating with an expert export manager, B2B stores can build trust and credibility by leveraging their experience, reputation, and network in the global trade community.

7. To achieve growth and success

Exporting can achieve growth and success for B2B stores by increasing their revenue, profitability, and market share in the global market. By diversifying their products or services, innovating their offerings, and adapting to changing customer needs. By engaging an expert export manager, B2B stores can achieve growth and success by tapping into their potential, overcoming their challenges, and reaching their goals.

As you can see, export management is essential for B2B stores that want to succeed in the international market. However, export management is not a one-size-fits-all solution. It depends on the specific needs, objectives, and capabilities of each B2B store. That’s why it is important to choose an expert export manager that can provide customized solutions that suit your B2B store.

The Global Demand for B2B Stores

B2B stores are online platforms that enable businesses to buy and sell products or services from other businesses. They are becoming increasingly popular as they offer convenience, efficiency, and cost savings for both buyers and sellers. According to some B2B statistics, the global B2B e-commerce market was valued at $26.7 trillion in 2019, accounting for 30% of the global GDP. Moreover, the market is expected to grow further as more businesses adopt digital channels and technologies to meet their customers’ expectations.

The Regional Trends of B2B Stores

The demand for B2B stores varies across different regions of the world. According to a report by Digital Commerce 360, Asia dominates the global B2B e-commerce market with an estimated 80% share in 2021. China is the largest B2B e-commerce market in the world, with a value of 27.5 trillion yuan in 2019. Other Asian countries such as India, Japan, and South Korea also have significant B2B e-commerce activities.

On the other hand, North America and Europe have smaller shares of the global B2B e-commerce market, with 7% and 6% respectively in 2021. However, these regions are also experiencing growth and innovation in their B2B e-commerce sectors. For instance, in the US, B2B digital sales grew by 10.9% in 2019, reaching $9.6 trillion. In Europe, B2B e-commerce is expected to reach €1.8 trillion by 2024, driven by factors such as cross-border trade, mobile commerce, and artificial intelligence.

References:

https://www.infosys.com/about/knowledge-institute/insights/Documents/future-customer-engagement.pdf

https://whatis.techtarget.com/definition/B2B2C-business-to-business-to-consumer

https://en.wikipedia.org/wiki/Special:BookSources/978-3-640-89316-4

https://www.census.gov/data/tables/2015/econ/susb/2015-susb-annual.html

https://www.gov.uk/government/consultations/small-business-commissioner-role

https://en.wikipedia.org/wiki/Special:BookSources/978-0-538-47443-6

https://news.un.org/en/story/2021/05/1091182

https://www.export.gov

https://www.tradecompass.com

https://www.exportmanager.com