B2B Business Less About Brand, More About Functionality: IndiaMART’s Dinesh Agarwal

B2B Business Less About Brand, More About Functionality: IndiaMART’s Dinesh Agarwal

SUMMARY

Talking about profitability of ecommerce players, IndiaMART CEO Agarwal said that irrespective of the segment in which a company operates, the objective is always to become profitable

Speaking at Inc42’s The Makers Summit, Agarwal also said that customer acquisition cost is higher for B2B ecommerce players

IndiaMART, which operates in the B2B ecommerce space, reported a 61% year-on-year increase in its consolidated net profit to INR 113 Cr in Q3 FY23

Over the past few years, B2B ecommerce has emerged as one of the fastest growing segments in the eretail segment. However, while B2C ecommerce brands often resort to aggressive marketing strategies, B2B players are conservative. Explaining this contrast, Dinesh Agarwal, CEO and founder of IndiaMART, said that the B2B ecommerce business is less about brand and more about functionality.

Besides, the B2B business is based on trust and relationships, Agarwal said at Inc42’s The Maker Summit 2023.

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