How Magento 2.4 Can Accelerate Your Business Growth In The Current E-Commerce Landscape?
At the beginning of the pandemic, we all watched the E-Commerce landscape change rapidly, and B2B businesses taking digital transformation initiatives. Currently, more than half of the B2B businesses in Pakistan have switched to selling online on a Magento Web Store. Safe to say, this shift has been fruitful. Most of the retailers who are our clients at Xcentric Services claim that selling online on Magento 2.4 is far more effective than selling in-store before the pandemic.
According to Statista, the revenues of Pakistan’s E-Commerce industry are expected to reach USD 5,049 in 2021. Hence, considering the current trends and the importance of selling online, we at Xcentric Services suggest – get our Magento Development Services. Though before we get on board to capture opportunities for you in the E-Commerce world, read through this blog. By the end of this blog, all your concerns about choosing Magento 2.4 for your B2B business will be answered.
Purchase Approvals In Magento 2.4
To increase B2B E-Commerce sales, businesses need to support the changing purchasing needs and requirements of customers. Therefore, our Magento Developers enable B2B businesses to customize their purchase approval process with the new workflow approval functionality,
Using this functionality, B2B online retailers can define rules of approvals based on the value of the order, number of SKUs, or the shipping costs. These rules help assign multiple approvers specific roles. For instance, a company might require approval by the purchases manager on a purchase of over $6,000 before it is processed.
This approval process in Magento 2.4 has been designed to improve efficiency. The approver is notified whenever approval is required on a purchase order. Moreover, the buyer also has complete transparency and is notified at each step of the purchasing process.
So overall, with workflow approvals, B2B retailers can now deliver fast and ensure spending controls are in place. And that is a perfect combination to attract new business and increase your B2B online sales.
To ensure a smooth transition to digital commerce, B2B businesses should be able to guide their customers throughout the online shopping process. For that reason, when providing Magento Website Development Services, we empower retailers with seller-assisted shopping functionality.
Technically, this functionality helps B2B online retailers in improving customer engagement and delivering an exceptional online shopping experience. Moreover, it also allows the sales or customer service representative of the business to log into the online web store from Magento Admin. With this access, the representatives can improve the buyer’s online shopping experience by:
- Troubleshooting parts of the buying process – for instance, helping the customers find products, showing them how to make a wishlist, or something else that is not working for them.
- Navigating customers through custom functionalities that are only available on the storefront experience, like a product configurator.
- Saving the customer’s time by creating quotes and orders for them on their behalf – by keeping in view their wishlist.
Since the past year, there has been a spike in online shopping and picking up the order in-store. Being a Magento Web Development Company, we believe that by implementing this shopping method, online retailers can bring significant value to both – online web stores and physical stores. Even though this method does increase complexities, we have a solution for this too.
By enabling web stores with the in-store pickup in inventory management, we make it easier for B2B retailers to sell their products online, all while providing value to their physical store. So as customers shop, they can easily select between pickup locations where physical inventory is present. Once the order is placed, the retailer can notify them when the order will be ready for pickup at the physical store.
Media Gallery Management
With the number of online sellers and buyers increasing rapidly, every B2B retailer needs to communicate with customers to stand out in the competition. Though we understand, creating content-driven experiences that engage visitors is time-consuming. To take this worry off the mind of retailers, we streamline their creative workflows with the re-built Media Gallery. Using the media gallery in Magento 2.4 that performs faster, retailers can:
- Manage images used throughout the online web store with new image details – including where and how often the image is used on the web store’s pages, products, or categories.
- Search and filter images more easily with the new image attributes – including the uploaded tags from the licensing status and Adobe Stock.
- Save time with updated Adobe Stock integration that shifts the image licensing and management workflow to the Media Gallery.
Amid the changing buying behaviour and needs of online retailers, one thing remains the same. Online buyers continue to expect and retailers continue to prioritize a secure, fast, and reliable online shopping experience. Do you know what this means? Launching an online web store on Magento 2 is not going out of need anytime soon. So yes, stop procrastinating NOW. Hire us as your Magento Web Development Company and get your online web store developed by professionals. To learn more about how we at Xcentric Services help retailers adapt to the E-Commerce landscape with Magento 2.4, go through our latest Blogs.