Online auction giant eBay says it will keep investing in its Magento platform, as the popularity of the eCommerce portal continues to increase. The company – which recently launched the Magento B2B Program – sees great potential in Magento, which it purchased outright in 2011. eBay is particularly eager to see how far it can go in the business-to-business (B2B) market, where adoption rates are fast-rising.
According to eBay, Magento is the “leading B2B eCommerce provider” – a platform that offers “innovative features” and the “fastest time to market” for online companies. Mark Lavelle, senior vice-president and general manager of commerce technologies at eBay, said distributors and manufacturers favour the Magento platform over other alternatives. He claimed this is because they “can curate consumer-like experiences for their buyers, while still taking advantage of Magento’s flexibility to customise any aspect of the order flow”. Mr Lavelle explained that Magento can be customised to match any business’ unique requirements, which is important from a user perspective.
Use of Magento for B2B purposes
As of August 2015, almost a third (30%) of Magento’s enterprise clients were using the eCommerce platform for B2B purposes. eBay claims that Magento ensures “rich innovation” for B2B clients, explaining their decision to commit to the platform and integrate it into their websites.
One committed Magento user – Kaushal Shah, Magento eCommerce practice leader at Perficient – noted that around 40% of his company’s Magento implementations have been for B2B companies.
“The customers we work with value Magento for its state-of-the-art commerce capabilities, to create the consumer-like experiences B2B buyers expect,” Mr Shah noted. He said Magento Enterprise Edition has “a robust set” of application program interfaces that make it easy to integrate with other external business systems. This allows companies to adapt to changing business needs, he stated.
Research conducted by analyst company Forrester Research has indicated that 93% of B2B buyers prefer to buy goods and services online with self-serve information, as well as a range of ordering options. It expects the number of B2B buyers making half or more of their purchases via the web to almost double from 30% in 2015 to 56% within two years.