fabric Launches a Commerce Platform for Business Buyers
fabric’s suite of API-driven e-commerce products modernizes B2B commerce to meet today’s buyer expectations and drive sales. Read the original press release here.
SEATTLE, December 9, 2021 – fabric, a headless commerce platform purpose-built for growth, today announced the launch of its business-to-business (B2B) platform for distributors, manufacturers, and wholesalers, who sell to other SMB, mid-market and enterprise-scale companies. fabric’s platform helps companies, including MSC Industrial [NYSE: MSM], PENCOM, Klondike, and National Business Furniture, deliver modern customer experiences where they were previously constrained by legacy technologies or internal e-commerce experience. Additionally, with fabric, B2B sales teams can now point potential customers to a self-service commerce platform for simple orders, allowing them to provide support for more complex inquiries that require a higher degree of expertise and service.
With U.S. B2B e-commerce sales projected to total $1.8 trillion by 2023, B2B buyers and sellers are increasingly looking for ways to optimize sales efficiency, streamline business operations, and leverage digital marketplaces to deliver better customer experiences. A recent McKinsey report highlights that only about 20% of B2B buyers hope to return to in-person sales, even in sectors where field-sales models have traditionally dominated, such as pharma and medical products.
With today’s announcement, fabric extends its complete, scalable e-commerce solution to sellers targeting other businesses, allowing sales personnel to focus on adding value to buyers via improved overall digital customer experiences. B2B-specific features within the platform include bulk ordering, contract-specific catalogs and pricing, and pre-built integrations with existing ERP suites such as NetSuite, Blue Yonder, and MS Dynamics. fabric Commerce Platform for B2B has three core components: an experience platform for Marketers to quickly enable a digital storefront; a configurable application for business owners to manage their day-to-day business orders, customers, products, pricing, and promotions; and a wide range of commerce APIs to power typical B2B use cases such as shared shopping carts, role-based access control, re-ordering, and more.
“Our economy is going digital, and trillions of commerce dollars are shifting online in the coming years,” said Faisal Masud, CEO at fabric. “Buyers want to shop online, however, too many B2B companies still rely on manual, in-person sales operations, and lack modern commerce technology. fabric is helping these companies grow with our modern, API-driven headless commerce platform and deep operating experience.”
fabric is built by industry experts who understand what brands need to deliver a complete end-to-end commerce solution. fabric provides operator management flexibility by offering both developer-friendly tools (APIs), and an intuitive back-end that can be managed and maintained by business users, marketers, and other non-technical users making customization easy.
“MSC saw an opportunity to grow our industrial equipment distribution business by modernizing the customer experience through e-commerce,” said Mark Pickett, VP, Cross-Channel Growth at MSC Industrial Supply Co. “When we were exploring technology vendors, we looked for someone we could partner with who understood our business and could help us get our digital commerce channels up and running quickly. The fabric platform helped us achieve this by providing our business with the flexibility to add loyalty and mobile commerce capabilities without having to re-platform, allowing for a better online shopping experience.”
fabric is in the midst of record-setting 2021. Since raising its Series A in February of this year, fabric has achieved YoY revenue growth in excess of 877%, grown employee headcount by more than 400%, earned a net customer retention rate of 230%, and signed on leading commerce brands like BarkBox, Bodybuilding.com, GNC, and Restoration Hardware. The company’s suite of commerce APIs include Product Information Management (PIM), Order Management, Loyalty Management, and Subscriptions products, and is available for customers to pick from as needed.
About fabric
fabric is the headless commerce platform purpose-built for growth. Customers like BuildDirect, abc carpet & home, GNC, and MSC trust fabric for its open and modular design that allows them to be live within weeks without having to replatform. fabric is a force multiplier on retailers’ existing technology investments proven to grow digital revenue by up to 3x. Headquartered in Seattle, Washington, fabric is backed by Stripes, B Capital Group, Greycroft, Norwest Venture Partners, Redpoint Ventures, Sierra Ventures, Innovation Global Capital, Ascend Venture Capital, Expa, and BC Partners. To learn more, visit https://fabric.inc.
Product marketing @ fabric. Previously @ Accenture and Infosys.
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