What does the acronym "B2B" refer to in e-commerce? 🔊
The acronym B2B refers to business-to-business in e-commerce. It describes transactions conducted between businesses, as opposed to direct consumer sales (B2C). B2B transactions often involve wholesale, supply chains, or services provided from one business entity to another. The focus is on larger volume sales and long-term relationships, where services or products may be customized to meet the specific needs of the buyer. B2B platforms facilitate cross-company interactions, improve supply chain efficiencies, and leverage technology for better procurement processes.
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