EBay played a crucial role in the early B2P and P2P e-commerce revolution, but B2B commerce hasn’t quite caught up with the digital shift. Emerging research shows that unless suppliers offer quality online shopping experiences for B2B buyers, they’ll lose out on some major business.
Now, eBay gets to play a new role in leading the charge to bring B2B commerce online – helping B2B suppliers go digital in the process.
The online auction site announced Tuesday (Feb. 3) a new partnership with auction service Proxibid that will allow Proxibid company buyers to participate in live, online auctions through eBay.
According to eBay’s Gene Cook, the firm’s general manager of emerging verticals for eBay Marketplaces, joining up with Proxibid propels B2B commerce not only onto the digital arena, but onto the global arena as well. “Proxibid is an established brand in the industry, and brings a wealth of experience in live auctions,” he said. “The partnership extends eBay’s general marketplace offering in the Business & Industrial category, while providing Proxibid exposure to a global audience of 155 million active eBay buyers.”
Both eBay and Proxibid will promote the auctions, meaning the trove of eBay buyers online will be able to participate in Proxibid bidding along with buyers physically at the auction. Together, Proxibid President and CEO Ryan Downs said, the firms’ new agreement “offers sellers a unique and compelling way to liquidate assets” while providing buyers with access to top-notch inventory.
The items up for auction by Proxibid – which include farming equipment, industrial machinery and cars – will be protected by eBay’s Business Equipment Purchase Protection and Vehicle Purchase Protection. The firms did not specify exactly when Proxibid auctions will go live on eBay.
Proxibid and eBay’s partnership comes at a time when B2B commerce propels itself online. While the B2B space is widely seen by experts to lag behind the progress B2C e-commerce, research shows that more B2B buyers than ever before are researching products and shopping online.
The struggle emerges in suppliers’ ability to create a successful digital experience for B2B buyers. In response, suppliers are losing market share to B2C e-commerce giants like eBay and Amazon, research shows. Proxibid’s if-you-can’t-beat-them-join-them strategy, however, suggests B2B suppliers are paying attention to evolving shopper demands.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More