Phasing Out Trade Shows With an Online B2B Marketplace
Founded in 2017 by entrepreneurs Bill Shope, Drew Sfugaras, and Niklas de la Motte, the startup company provides a much-needed platform for new brands to gain exposure to potential retailers, as well as an opportunity for small businesses to find unique items to draw in customers.
“The store that’s helping consumers discover new brands, or donating 10% of profits to charities — those are types of stories and products you need to have to draw consumers into your store,” Shope said.
Abound’s blog is flush with posts highlighting brands across a wide array of departments, including home, beauty, food and drink, and more. The “brand spotlights” often include interviews with the craftspeople behind the products on the ecommerce marketplace, which allows retailers to learn about how the items are manufactured and who is responsible for making them.
The startup company claims to have added 180,000 new products to its online marketplace in 2020 and seen a twentyfold increase in monthly sales volume.
B2B Ecommerce Industry and Competitors
The B2B ecommerce market is massive and filled with powerful competitors. Market research expects the global B2B ecommerce market size to reach an estimated $20.9 trillion by 2027. The value of the industry comes as no surprise when giant companies like Amazon and Alibaba are among the top competitors in the market. Abound aims to find its niche in the industry by offering unique and rising brands, rather than an overwhelming number of products like its competition.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.