A study made in 2015 by Frost & Sullivan, an established consulting agency, regarding the future of global trade predicts that the online B2B market will reach a staggering figure by the year 2020 equal to $6.7 trillion globally. This will represent the 27% of total B2B trade that will eventually double the entire B2C market.
The following data is not there for us to assume superiority of our service (no product or service can be suitable for everyone at all times) but, it is directed to give an informative view and serve potential users interested in B2B trade in order to make the right choice based on their industry, needs, budget, location and other factors that might play a role.
20+ years ago, specifically in 1996 in Hong Kong the first online global trade platform Asian Sources Online was created to serve local manufacturers export their products. Global Sources, previously known as Trade Media Ltd, was an already established company in the world of international trade since the 70s.
Today it is one of the main players in the online B2B e-commerce but also in the offline organisation of large Trade Shows in Asia with the purpose to encourage sellers from across the world to be the first to access a variety of original products and promote and sell them to the west.
It has more than 1 million international buyers including some of the world’s top retailers using its services with success. It’s worth noting that it has the highest cost of all global trade platforms. Additionally as with most global trade platforms today, there is no specific focus in industries and type of products.
IndiaMART: IndiaMART is an Indian web-based business organization that gives B2C, B2B and C2C (customer to customer) sales services by means of its online interface. It was also established in 1996 in India and by 2012 was India’s largest online marketplace and the world’s second biggest.
Unfortunately there have been countless scam reports from users regarding IndiaMart with some of them mentioning that certain suppliers are not what they say they are and about the lack of a refund policy paired with continuous charging even after a cancelled service.
Alibaba came in the scenery 3 years later, in 1999, as a Chinese internet business organisation based in Hangzhou with a similar purpose to serve China’s manufacturing power and particularly SME’s in being exposed to the wider markets of the west.
Today, it’s one of the most powerful group of companies in the world and combines B2B, B2C, C2C as well as worldwide payment facilities (AliPay). With yearly revenues surpassing Amazon and eBay combined, it has managed to become a source for millions of volume buyers who use branding, dropshipping and classic retail with off-the-shelf products to sell in western markets.
Its name has been jokingly related to the story of Alibaba and the 40 Thieves, not by accident since there have been a lot of complains by users who are dissatisfied with the level of products they receive from their Chinese partners as well as the fact that very often companies who present themselves as manufacturers are wholesalers playing with margins in an effort to make profit.
Another important issue is the product over-population which makes it hard, even with thorough categorisation, to trace a lot of products because there are just too many of them. The problem arises from the fact that anything and everything is acceptable from all industries (even real estates) which gives no real focus to the website and its users.
Quality Trade promises exports with the best quality verified manufacturers looking for representatives in foreign markets. There main differentiation from other platforms is the claim that all manufacturers are ISO-certified. The company is Australian and offers products from manufacturers in different countries.
The cost of their service has dropped since 1 year ago, perhaps in order to increase user-base. There is no focus on a specific industry or a group of industries but since they have not reached the over-population level yet, it’s holding up in terms of tidiness.
TradeLizard offers services for companies of any size. It has the lowest subscription rates on the market and the most complete company presentation for both sellers and buyers. It was founded in August 2016 with the aim to focus on technology and innovation only. All related industries like robotics, electronics, energy, engineering and medicine are welcome as long as they involve the highest quality of certified products and gadgets.
Manufacturer verification is part of the service and it’s done by notable associates based on company documentation and product qualifications so that all legitimate companies are given relevant status on the platform, something that helps build trust. There is also a strict policy in terms of protecting buyers which means that buying through the platform guarantees that you get what you asked for or your money back.
Because of the way it works, TradeLizard does not offer reviews at the present stage, mainly because we believe that each professional relationship between manufacturer, volume buyer and product is unique and the means of communication and presentation are there to come up with solid conclusions.
TradeLizard is a new service in the online global trade market that strives to give results to manufacturers and the best prices and quality to buyers. All you have to do is show trust and we’ll make sure to return it tenfold.
Follow the trends but also your instincts. Make your own conclusions based on objective information. Very often the press does not give well-rounded reviews of a service because they are simply paid to promote it, sometimes blindly. It is therefore wiser to choose a service not because “X Media Company” recommended it but because you checked it yourself and got a strong sense of its value or potential value. This is exactly what leaders do.
Whatever your choice, at the end you’d still be using one of the most powerful ways, the internet, to grow your business and that is something that will be proven countless more times in the next 3 years.