In-Depth Analysis on B2B E-Commerce Trends and Stats You Can't Ignore

In-Depth Analysis on B2B E-Commerce Trends and Stats You Can't Ignore

 

In essence an online E-commerce store is no more just a website, it's a growing trend included in digital enterprise transformation with a large scale growth opportunities. In fact, there are claims that say that US and China would be the largest B2B e-commerce market by 2020, with a revenue of $1.2 billion. Beginning from start-ups to established players, making e-commerce a better place to reach and manage customers has become easier. Due to effective CMS system as well as upgraded SaaS platform, the technical challenge to start an ecommerce store has been reduced.

Let us discuss some important B2B stats covering major challenges: 

  • 70% of the B2B decisions include two people. Almost 30% of the transaction include more than five people, which makes it critical that B2B serve multiple minds.
  • On average, B2B researchers do 12 Google searches before engaging to any specific brand.
  • The average order value was $491 for B2B respondents versus $147 for consumer-oriented e-Commerce executives.
  • Mobile devices account for about 16% of visits to B2B e-Commerce platforms.
  • B2B buyers expect a consistently high-quality customer experience in every channel and are loyal to companies from whom they receive excellent service. These can be learnt basically from Alibaba and Amazon, the two leading B2B e-commerce trendsetters.
  • 91% growth in B2B researchers using smartphones throughout their path to purchase

These stats shows that there are more companies that are engaging in B2B e-commerce business. The entrepreneurs have started increasing interest in this kinda deals. As e-commerce shops are increasing on a regular basis, they are becoming high-end contributors to a company’s sales growth potential. Is your company selling only a portion of your inventory online? Educate your buyers with the help of an ecommerce store. You can even market your products there in order to support your sales team.

B2B e-Commerce Trends
PERSONALIZATION : There is an increase in preference for the companies which demonstrates a strong understanding of the needs of customers. They focus on things like product suggestions, customer preferences and much more.
FAST DEPLOYMENT TIME : Customers consider deployment time as the most important factor while researching B2B products and services. Which should really come as no surprise considered by best practices from other leading e-Commerce platforms.
BETTER ROI :Any buyer would research more about the ROI first, before any kind of transaction. So you need to stand different from the competition to get attracted by the buyer.
INVEST IN TECHNOLOGY : As the technology is growing spontaneously, B2B companies embrace to investing in e-commerce and in their digital strategies which can make them stay out of the competition.
ONLINE CATALOGUES : Gone are the days when people used printed catalogues. According to a report, it has been found that 69% of B2B companies are expected to stop printing catalogue by following the interactive online tools by 2018.

Watch ‘em out and follow these in the coming year to stay ahead of the competition.
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