Market Research


The B2B ecommerce industry has had a love/hate relationship with marketplaces over the
last 20 years. Around the turn of the millennium, B2B marketplaces went looking for
love from B2B buyers and sellers, but the resulting affair was short. The technology was
inadequate to nonexistent, buyers and sellers on a wide scale were not interested, and
competitive differences kept industry marketplace coalitions from working successfully
Fast forward to 2022, and B2B buyers and sellers are in love once more with
marketplaces. And the feeling from marketplace operators is mutual. B2B marketplaces
are now the fastest-growing channel in B2B ecommerce, based on a market projection
from Digital Commerce 360.

How big are B2B marketplaces getting?
Sales on B2B marketplaces shot up 131% to $56.5 billion in 2021. And they are
projected to increase at a similar pace to $130 billion in 2022.
Since the pandemic struck more than two years ago, the B2B ecommerce landscape has
changed dramatically. B2B ecommerce and B2B marketplaces are now mainstream.
Sales on B2B marketplaces have increased 5.3 times in just two years, from 2020 to 2022
And B2B marketplaces in 2023 and beyond will become even more mainstream. In 2022,
B2B marketplaces grew 7.2 times faster than all B2B ecommerce, based on a projection
from Digital Commerce 360.

B2B buyers find marketplace shopping useful
B2B buyers, like consumers, turned to websites to make purchases when the COVID-19
pandemic struck in early 2020, making face-to-face transactions impossible in many
cases. When Digital Commerce 360 asked business buyers in March 2022 how the
pandemic changed their buying behavior, the top response, selected by 52%, was that
they went to “ecommerce sites as they have more selection.”
In the same survey, 57% of buyers said they were purchasing more from B2B online
marketplaces during the pandemic, and 17% said they were buying “significantly more”
than before. And 35% of B2B buyers report getting at least half of their shopping done on
marketplaces. mazon Business remains the single most dominant B2B marketplace. 43%
of B2B buyers expect their total spending on Amazon Business to increase over the
course of 2022.

Are investors interested in B2B marketplaces too?
Despite challenging economic conditions, investors continue to pump funding into B2B
marketplace companies, says Bowery Capital. In 2021, there were 111 deals completed,
and the pace did not fall off so far in 2022. Through May, there have been a total of 63

The biggest marketplace deal tracked by Bowery Capital so far was $2.2 billion for
Flexport, a Transportation & Logistics marketplace. That service sector has seen $7.05
billion in marketplace funding in the past 12 months, the highest of any category.
The Labor sector has seen 21 deals worth $2.31 billion in the past 12 months.
Additionally, Manufacturing & Industrials has seen $2.35 billion in funding in the past 12
months, Retailing has enjoyed $1.40 billion in funding, and Agriculture has received
$1.24 billion.

B2B marketplaces offer various benefits, such as digital capabilities, scalability, accuracy
in analytics, and a customer-centric approach. Moreover, technological proliferation,
such as the application of artificial intelligence and cloud technology, has enabled the
B2B e-commerce market to offer an improved customer experience. The internet has
emerged as a powerful tool for connecting sellers and buyers more efficiently. Internet
capabilities have a profound impact on an organization’s value chain.
The COVID-19 pandemic has accelerated the demand for e-commerce during a period of
slow economic activity. In the first half of 2020, the pandemic impacted several
businesses across the globe. With stay-at-home restrictions, numerous consumers and
businesses went digital to buy and sell goods and services online. Moreover, the
proliferation of cloud services and web applications has boosted the demand for

B2B ecommerce businesses. Manufacturers, wholesalers, and distributors have been
undergoing digital transformation gradually over the years to create a sustainable future
for their respective businesses. In December 2020,, Inc. announced that
Nationwide Mutual Insurance Company, a British mutual financial institution, has
expanded its partnership with AWS by selecting it as its cloud provider for

the companywide digital transformation.
Flexible payment options favor business owners. The changing B2B buyer behavior and
a strong emphasis on streamlining purchasing processes are prompting B2B e-commerce
companies. This, in turn, offers payment methods, such as third-party payments
and mobile wallets, as part of their efforts to make B2B transactions more convenient.
For instance, in December 2021, Newegg Commerce, Inc. partnered with Affirm, Inc., a
payment network, to provide flexible payment options such as pay-over-time to
customers shopping from Paying with Affirm incurs no hidden costs or late
fees and allows customers to split the purchase into simple payments over time. Affirm,
Inc. provides its customers with transparency, flexibility, and control at checkout.
Businesses are expected to find account-based transfers more appealing during the
forecast period, owing to their improved speed and security. Further, improvements in
real-time payment technologies are likely to foster their adoption, creating a favorable
environment for online business transactions. Several companies are making significant
investments in automated payables and real-time payment technologies, which is
expected to contribute to the segment growth during the forecast period. Factors such as
favorable regulations supporting consumer protection and cross-border trade regulations
are expected to boost e-commerce sales. Various government bodies worldwide are also
amending and strengthening data security and privacy protection laws as part of their
efforts to build consumers’ trust in B2B e-commerce platforms.

However, concerns around payment security and data privacy, coupled with the need for
ongoing investments, such as technological upgrades, cap-ex investments, software
licenses, implementation costs, infrastructure costs, and server provisioning costs, are
expected to pose a challenge for the market growth. B2B e-commerce enhances supply
chain efficiency by providing real-time data for components, such as product availability,
inventory, shipment status, and production requirements. Moreover, it helps to improve
communication within the supply chain, allowing OEMs to organize inventory deliveries,
logistics, and other activities to ensure improved efficiency and reliability.1
Deployment Type Insights
Based on deployment type, the market can be segmented into supplier-oriented, buyeroriented,

and intermediary-oriented models. The intermediary-oriented segment
dominated the market in 2021, recording a revenue share of over 50.0%. This model
regulates trade among manufacturers and consumers. Moreover, it frees up businesses,
particularly MSMEs, from the high cost of website development, logistics, and customer
support, making it a popular choice.
The supplier-oriented business-to-business e-commerce model is also expected to witness
an uptake, registering a CAGR of over 15.0% from 2021 to 2030. This model is a
preferred choice among local businesses seeking to venture into unfamiliar regions or countries.

Dell Inc. is a classic example of a company that implements the supplier oriented deployment model.

2- Benefits of Participating in The Global Marketplace

-Stability During Economic Turbulence
International businesses competing in the global marketplace are not reliant on the sole
health of one country’s economy. Such organizations practice keener risk management
and are far more likely to weather short and long-term economic disturbances when they
do strike. Downturns or disruptions in one market are buoyed by the financial and operational
lifelines in others. And while today’s economies are undoubtedly more
interconnected than ever, the nature of those connections and the tools and technologies
underpinning them present new means for organizations to evenly distribute risks when
geographically dispersed.

-Expanded Market Share
Cross-border capital flows are music to your company’s bottom lines. The onus of the
global marketplace encourages organizations to move outside the limited capacities of its
domestic markets and into the scaled-up stages of worldwide customers, vendors, and
even employees.
Forward-thinking managers see beyond their immediate country’s consumers and
vendors and into dynamic, cost-saving, and profit-generating international frontiers. For
small and medium-sized businesses, the global marketplace offers means to reach
customers and expand sales in ways that, even a decade ago, were inconceivable. As your
market share and brand awareness grows, your business can compete with far larger
entities and still provide its same high-quality deliverables.

-Enriched Workforce
Globalization brings another benefit to today’s organization: The globally remote
workforce. Over 3.9 million employees work remotely full-time in the US. What’s more,
nearly two-thirds of U.S.-based companies employ full and part-time employees who
work outside of their offices.
The global marketplace directly correlates with improved employment opportunities for
those in emerging and early-stage economies. Skilled international candidates now have
unprecedented passage into working for foreign-owned companies. This is a particularly
beneficial development for small and medium-sized businesses, who now have access to
a wider network of talent they can leverage for international growth.

-Improved Technology
Culture and technology vary greatly depending on the country. Expanding globally gives
your organization access to new technological equipment and norms — which can be
funneled into strategic advantages and competitive innovations both domestically and
Harnassing tech innovations can have a direct influence on more efficient operations back
in your US headquarters, particularly for those in the manufacturing and service
industries. According to the Organization for Economic Cooperation and Development
(OECD), the US is no longer the global leader in new process or equipment
innovations in these sectors. Manufacturing and service organizations can solidify their
thought leadership and leverage a competitive differentiator by sourcing technological
breakthroughs from the global marketplace.

-Expedited Access to Vital Resources
Leaner, stronger businesses tend to be ones that source necessary resources as costeffectively as possible.

Expanding your presence into the global marketplace is a leading means to secure a range of key business assets

and materials, particularly ones that aren’t
available in your immediate area.

Many companies push for global marketplace expansion to gain profitable access to
direct and indirect resources, such as:
* Specialty labor
* Cost-effective production and manufacturing
*Raw material sourcing (metals, iron ore, lumber, agricultural products, etc.)
* Technology (hardware, software, industry-relevant tech R&D, etc.)
* Thought leadership and consultants
* Expanded capital

-Compete with Global Rivals in the Global Marketplace

To compete with global rivals (including ones larger than yours in terms of infrastructure,
market share, capital and assets, brand awareness, and more), your organization must
think globally yet act and ally locally.
It can be an intimidating and unintuitive course of action for many organizations, but
especially those expanding internationally for the first time. Yet today’s global
marketplace-geared technologies and resources serve to connect you with subject matter
experts, consultants, industry insiders, trainers, and potential employees in your new
region. By establishing these localized resources, you strengthen your international
expansion acumen and can execute operations just like the name-brand powerhouses.

-Tap into Emerging Markets Before Others

Organizations that are global marketplace-minded are more prone to recognizing
international business opportunities before their domestic competitors. These same
organizations tend to make routine market demographic research a strategic priority,
alongside thorough data analysis reviewing the financial viability and stability of entering
prospective markets. They’ll also conduct their own cultural comprehension tests of that
market, considering potential language barriers, government regulations, supply chain
management models, potential compliance concerns, and more.
Keeping tabs on this information primes organizations to commit to emerging markets
(EMs) when the opportunity arises, with the proactive knowledge and resources ready to
integrate smoothly into a new country far ahead of competitors.
Expanding internationally is not a new business concept. However, today’s organizations
have access to tools and technologies that make the sharing of knowledge, data, goods,
services, capital, and more nearly instantaneous across borders, creating new
opportunities to make a commercial impact abroad.
In other words, preemptively navigating the global marketplace prepares your business
for more successful globalization. Businesses have more visibility and resources ready to
scale up operations internationally or expand influence abroad. These opportunities are
pivotal to locating the best industry talent, accessing a wider pool of direct and indirect
resources and — ultimately — increasing company profits.


Our forecasting model predicts the real value of global trade to go up to USD 20,175
billion in 2021 and USD 21,038 billion in 2022.
Therefore, IHS Markit anticipates a year-on-year increase in the real value of global trade
by 12.6% in 2021 (prior, it was +8.5%) and by 4.3% in 2022.
The global merchandise trade volume forecast will grow to 15.2 billion metric tons in
2021 and 15.8 billion metric tons in 2022 (significantly higher than our prior forecasts for
It points to a recovery in the forthcoming years with year-on-year growth rates of 8.7% in
2021 and 4.4% in 2022 (an adjustment by + 2.1% and 2.0%, respectively).

The Omicron variant can adversely affect economic activity in Q1 2022. Supply chain
disruptions are unlikely to subside in H1 2022.

2021 was the second year of the ongoing COVID-19 pandemic, marked by rapid
recovery from the dramatic 2020 resulting from the initial outbreak in Q1 2020. Q2 of
2020 proved to be the worst quarter for global trade on record, but the situation started to
improve relatively fast.
Global trade is already at levels seen before the pandemic, but the growth rates peaked in
Q2 2021 and then moderated. The recovery brought nonetheless several problems which
proved to be persistent and will still affect global economic activity, at least in H1 2022.
The present article will investigate these in detail.

Global trade in 2020
IHS Markit Global Trade Analytics Suites (GTAS) Forecasting team now estimates the
contraction of global merchandise trade in 2020 to USD 17,921 billion or -5.5% year-onyear. In terms of volumes,

GTAS Forecasting estimates a contraction of global trade in
2020 to 13.94 billion metric tons or by -4.2% year-on-year.
In comparison, the WTO estimated the fall in volume to be -5.3%, IMF estimated it to be
-8.3% (for the volume of trade in goods and services), and WTO (June 2021 Outlook) at –
8.3% for the volume of trade in goods and nonfactor services.

The ongoing COVID-19 pandemics
The COVID-19 pandemic is the most prominent driver of the current global economic
situation. As a pandemic cannot be fully predicted, it leads to significant uncertainty.
The reaction in trade in 2020 was to a large extent consistent with the escalating global
COVID-19 pandemic and steps taken by individual countries/territories in controlling or
mitigating it.

The overall impact of COVID-19 on worldwide trade and the global economy will
depend on the duration, severity, and spatial distribution of the pandemic and directly
linked to the severity of containment efforts taken by individual states.
The reaction of states is mainly related to the capacity of their health systems to cope
with the number of incoming patients (hospitalizations) and the corresponding number of
reported deaths showing to some extent the incapacity of health systems to manage.
It seems that with the duration of the pandemic, governments and international
organizations learned to react to it and mitigate it in a more balanced and less harmful
The health crises, such as COVID-19, create problems both on the supply side (e.g., due
to lockdowns, forced production stoppages, disrupted global value chains) and demand
side (e.g., lower consumer confidence, delayed consumption, lower incomes).
The impact of COVID-19 on the worldwide economy outweighed the prior outbreaks of
SARS or MERS. It resembled more the effect of the infamous Spanish Flu of 1918-20. In
terms of the duration of the pandemic, we can expect it to endure up to 3 years. It could
transform in 2022 from pandemic to endemic.

Recent econometric analysis on monthly processed bilateral trade flows by the GTAS
Forecasting team has shown that COVID-19 still exerts an adverse impact on
international trade flows; however, the effect is slowly diminishing in magnitude (it is
observed both for new cases, new deaths, as well as COVID-19 monthly average of daily
Oxford’s Government Response Tracker on the stringency of response to the pandemic
by individual states).
The global economy is not reacting as such to the pandemic itself but mainly due to the
severity of reaction by individual states and changes in it and due to the shifts in behavior
of economic agents.

The overall impact of COVID-19 on global trade and the global economy depends on the
duration, severity, and uneven spatial and temporal distribution of the pandemic
(changing with the subsequent waves of the pandemic) and the associated severity
containment efforts taken by individual states.
The health crises create problems both on the supply side (e.g., due to lockdowns, forced
production stoppages, disrupted global value chains) and demand side (e.g., lower
consumer confidence, delayed consumption, lower incomes)
On 26 November 2021, WHO designated a new SARS-Cov-2 variant B.1.1.529 as a
variant of concern, named Omicron, on the advice of WHO’s Technical Advisory Group
on Virus Evolution. This decision was based on the evidence that Omicron has several
mutations that may impact the speed of spread, higher transmutability, or the severity of
illness it causes; the markets reacted strongly to the new adverse information with an
increasing number of states reintroducing stricter contingency measures.
The full impact of Omicron will be known only within several weeks when we will
understand the severity of the mutation. Nonetheless, it is likely to impact global
economic activity in Q1 2022; the variant potentially could become an adverse gamechanger.
The cumulative number of confirmed cases of COVID-19 globally by 1 January 2022
reached 289.3 million and 5.45 million deaths.

The 2-week moving averages of new cases globally started to rise again by the end of
October 2021, with global average death rates following with no apparent delay. Omicron
led to the highest number of new cases reported since the pandemic outbreak in the last
week of 2021, with no immediate impact, yet, on the number of COVID-19 related
To illustrate the problem, in the U.S. the number of cases jumped to 500k daily in the last
week of 2021 and then to 1 million confirmed cases daily in the first days of 2022. Thus,
the shift from pandemic to endemic is becoming an actual reality.

There are two areas of concern now: the change in the number of hospitalizations
(capacity of the health system to cope with the Omicron wave) and the level of
vaccinations in the population.
According to some researchers, vector vaccines such as the Russian Sputnik or the
Chinese Sinopharm and Sinovac’s CoronaVac provide limited protection against
Omicron, even with a booster dose, compared to mRNA vaccines such as Pfizer (PFE) or
Moderna (MRNA).
Thus, it could bring the countries that based their reaction to COVID-19 on vector
vaccines under more significant pressures (particularly China (mainland) and Russia) in
particular in Q1 2022.

Youth unemployment statistics
372,000 young people aged 16-24 were unemployed in June-August 2022, down 62,000
from the previous quarter and down 122,000 from the year before. This was the lowest
level of youth unemployment since records began in 1992.
The unemployment rate (the proportion of the economically active population who are
unemployed) for 16–24-year-olds was 9.0%. This is down from 10.4% in the previous
quarter and down from 12.1% from the year before.
The number of young people in employment was around the same in June
as the previous quarter but increased by 137,000 from the previous year to 3.74 million.
The number who are economically inactive (not in or looking for work) increased by
79,000 from the previous quarter and remained at a similar level to the year before at 2.72
million. 78% of the young people who are economically inactive are in full
The inactivity rate for young people is 39.8%, up from 38.8% in the previous quarter.

Trends in youth unemployment
After reaching a peak of 22.5% in 2011 following the 2008 financial crisis, youth
unemployment rates fell until the start of the pandemic to 12.3% in January
Youth unemployment did initially rise after the outbreak of t
unemployment rate reaching a high of 14.9% in July
unemployment were 15% higher in this quarter than they were pre
Since then, youth unemployment has been steadily falling. There were 16
unemployed young people in June
fall. The youth unemployment rate has fallen from 12.3% to 9.0% during this period.
oung people in employment was around the same in June
as the previous quarter but increased by 137,000 from the previous year to 3.74 million.
The number who are economically inactive (not in or looking for work) increased by
evious quarter and remained at a similar level to the year before at 2.72
million. 78% of the young people who are economically inactive are in full
The inactivity rate for young people is 39.8%, up from 38.8% in the previous quarter.
ds in youth unemployment

After reaching a peak of 22.5% in 2011 following the 2008 financial crisis, youth
unemployment rates fell until the start of the pandemic to 12.3% in January
Youth unemployment did initially rise after the outbreak of the pandemic, with the youth
unemployment rate reaching a high of 14.9% in July-September 2020. Levels of youth
unemployment were 15% higher in this quarter than they were pre-pandemic.
Since then, youth unemployment has been steadily falling. There were 16
unemployed young people in June-August 2022 compared to January
fall. The youth unemployment rate has fallen from 12.3% to 9.0% during this period.

Young people in employment was around the same in June-August 2022 as the previous quarter but increased by 137,000 from the previous year to 3.74 million.
The number who are economically inactive (not in or looking for work) increased by evious quarter and remained at a similar level to the year before at 2.72 million. 78% of the young people who are economically inactive are in full-time The inactivity rate for young people is 39.8%, up from 38.8% in the previous quarter.
After reaching a peak of 22.5% in 2011 following the 2008 financial crisis, youth unemployment rates fell until the start of the pandemic to 12.3% in January-March 2020. he pandemic, with the youth September 2020. Levels of youth pandemic.
Since then, youth unemployment has been steadily falling. There were 160,000 fewer August 2022 compared to January-March 2020, a 30% fall. The youth unemployment rate has fallen from 12.3% to 9.0% during this period.

What lies ahead for the UK job market in 2022
Many people are moving jobs, with job seekers shopping around for what matters to
them, says Jack Kennedy, UK and Ireland economist at Indeed
Jack Kennedy works for the Indeed Hiring Lab, an international team of economists who
deliver insights on the global labour market.
“We are seeing a record number of job switches in data from the Office for National
Statistics (ONS): a million people made job-to-job moves in the third quarter. But here at
Indeed, we are not seeing too much evidence that there’s been a mass reassessment of
people’s work priorities. If you look at the recent job-to-job moves, more of them have
been within the same industry than pre-pandemic. So, it’s not like we’re seeing a mass
switch into different fields. We see it as job seekers taking advantage of plentiful
opportunities, in some cases moving to take advantage of higher wages on offer,” says

Active UK labour market
The UK labour market is extremely active, Indeed’s research shows, with job postings on
Indeed up 39 per cent from February 20201, seasonally adjusted.
Kennedy says one trend that is very real is workers looking for remote roles, which have
increased by more than 500pc2: “We saw spikes in remote work interest, particularly
during periods of lockdown, but in the last few months, really since the start of this
summer we’ve seen that trend increasing again.

“Job-seekers remain interested in remote work. It may be that there are some people that
are being asked to come back into offices and aren’t particularly keen to do so. They are
increasingly looking for alternative roles where they can continue to work remotely.”
Kennedy says that the ups and downs of the pandemic and post-pandemic job market
have seen job seekers become more entrepreneurial.
“We saw huge increases in searches for jobs in reopening sectors earlier in the year in
places like garden centres – when it was announced they’d be among first businesses to
reopen – and places like Covid-19 testing centres. We’ve also seen more recently that
media reports of rising pay for HGV drivers boosted job-seekers looking for those very
highly in-demand roles.”

Tumultuous year for the job market
The trends come out of a tumultuous year for the job market, Kennedy says.
At the start of the pandemic, job postings bottomed out at 60pc of pre-pandemic levels,
and UK recovery was slow.
“We had the slowest recovery of the G7 countries in terms of job postings across the
countries that we operate in. We didn’t see that pace of recovery really kicking up a gear
from around the spring of 2021 after the Government announced its roadmap out of
Covid restrictions, effectively switching the economy back on. So we passed the prepandemic

baseline job postings last May and, since then, we’ve just seen continued very
strong growth in job postings.”
Kennedy says that Indeed Hiring Lab has created “deep dive” reports on the changes in
the labour market – including the impact of Brexit.
“We have a number of clients who have been very mindful of the impact of Brexit. We
found that, as well as diminishing EU job-seeker interest, we’re seeing rising interest
from outside the EU, particularly in higher-paid jobs in sectors like tech, engineering and

healthcare. For instance, job-seekers from Pakistan are looking for software developer
jobs in the UK.”
Employers have embraced tech innovations such as video interviews to attract talent,
Kennedy says. And in some sectors, employers have had to raise wages to try and attract
talent in the face of huge demand for workers.
“We’ve seen that many employers, particularly in these sectors that have had very strong
demand growth, have been reaching for the one lever they can control, namely pay. So
we have seen that wages have risen very strongly, where there is high demand in
particular sectors in a bid to attract new or returning workers.”
But Kennedy says that above-inflation wage rises are still limited to a few sectors.
“We’re not really yet seeing that broaden out across the market as a whole. We saw a
4.1pc annual increase in December 2021 in median advertised wages in job
postings, below the rate of consumer price inflation. But the most in-demand sectors like
food service, construction, manufacturing, nursing, warehousing and driving saw wage
increases around 7-8pc.”

Changing needs of workers
“Employers need to meet people in the middle to some extent. It’s about an overall
holistic approach. So, particularly for employers that are finding hiring very challenging
at the moment, we are seeing them looking at things like flexible working provisions, and
parental leave policies to attract and retain parents.
“We’re seeing that younger people, particularly, care about things like ESG
[environmental, social and governance] issues and things like the gender pay gap. So

employers need to think about a rounded view about what they can offer to people
looking for work,” says Kennedy.
Kennedy believes that “employer branding” is going to be increasingly important in a job
market where employers are competing to hire.
He says: “It’s going to be the ability to really sell what their organization can offer for the
job-seeker. People do have a lot of opportunities in the current market. So, employers
need to be very aware about things like employee reviews, making sure that they have a
lot of information easily accessible to job-seekers about why people should go and work
for their company specifically. There’s a lot of competition. They need to think about
how they can really differentiate their offering, and sell that vision to the job-seeker.”

As a full service and standard global marketplace platform, THE TRUSTED SERVICE.
have a variety of practice areas as it relates to business related contents. We have
however decided to conduct a thorough market survey of our target market based on
information obtained regarding similar businesses like ours in the country. Our intention
of conducting a market survey is so that we have a better idea of what it is our target
market wants in order that we might then offer the right services that will meet these
wants. The fact that there are already huge ecommerce and marketplace platforms in the
industry doesn’t mean that there isn’t still a need that hasn’t been met. From the result of
our market survey, we are therefore in business to offer our services to UK, USA,
Canada, Australia, France, New Zealand, Singapore, India, United Emirate Arab and
South Africa.


Translate »