What does “B2B” stand for in digital commerce? 🔊
B2B” stands for “business-to-business” in digital commerce, referring to transactions conducted between companies rather than between companies and individual consumers. This model encompasses a variety of activities, including wholesale trade, supply chain interactions, and service offerings between organizations. B2B transactions typically involve larger quantities and higher value compared to business-to-consumer (B2C) sales. Key aspects of B2B commerce include negotiation, long-term relationships, and contract agreements, emphasizing the importance of trust and reliability in business dealings. The B2B market is crucial for many industries, often driving the backbone of the global economy.
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