What does the acronym B2B stand for in e-commerce? 🔊
The acronym B2B stands for business-to-business, referring to commerce transactions between businesses rather than between businesses and consumers (B2C). B2B encompasses various activities, including bulk purchasing, wholesale, and services offered exclusively to other companies. It highlights the importance of building strong relationships, negotiations, and contracts in the buying process. Platforms facilitating B2B transactions often focus on specialized software, logistics, and supply chain management. This sector plays a vital role in the overall economy by fostering trade and value chains among businesses.
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