The growth of B2B ecommerce has been incredible! Read all about the increased demand for B2B ecommerce solution platforms and the state of B2B ecommerce in 2019!
With B2C ecommerce sales growing fast, the B2B ecommerce industry is also following. As a matter of fact, not only is the B2B market increasing is web presence, but it is doing so by copying the B2C ecommerce strategies and methods.
The global B2B ecommerce sales are predicted to reach over $6.6 trillion by 2020. The US alone will generate over $1.9 trillion in sales. The B2B market, by 2025, will outgrow the B2C market with China as a leader.
Today, so many industries are using B2B ecommerce solutions including distribution, wholesale, retail, digital software services, and more. The electronic goods are predicted to be one of the fastest growing B2B ecommerce products over the next 5 years.
When it comes to B2B customer behavior, over 90% of B2B buyers search online before purchasing the product. Over 70% of B2B buyers search for product pricing information (compare prices) before they make a purchase.
Over 90% of B2B buyers buy online when they have decided what to buy. They prefer to purchase online instead of visiting a brick-and-mortar store.
The rise of self-service has increased with 57% B2B customers preferring to access their orders online and over 60% of B2B shoppers want simplified ordering experiences and scheduled deliveries.
Midsize and enterprise businesses are investing more in business-t-business ecommerce platforms than startups or smaller businesses. However, this is predicted to change in 2019 as vendors design their ecommerce platforms to be less IT heavy and more perceptive for implementation and ease-of-use.
The growth of B2B ecommerce makes sense because B2B buyers are B2C customers who expect high-quality and seamless shopping experience. They look for an elegant and simple experience, similar to B2C when shopping online as B2B buyers.
The B2B buyers prefer researching, buying, and managing their own accounts through B2B ecommerce solution platform. This can be achieved through a platform that has robust functionalities, possesses integration options, and is intuitive. Some of the best B2B ecommerce solutions to recommend are Shopify, Magento, and Demandware offering great features for better and improved customer experience.
Choose the right B2B ecommerce solution and watch your B2B business and brand flourish!
Here some of the most popular articles that you can check:
— Docmation (@docmation) December 29, 2018