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By 2020, businesses are highly relying on sales reps to interact directly with B2B eCommerce companies. Today, millennials prefer self-service and remote communication—they make 73% of their purchasing decisions online.
The buying process for business-to-business (B2B) transactions has been undergoing changes for the past several years, many of which were first witnessed in 2021. By 2026, revenues in B2B eCommerce platforms are expected to reach $18.57 trillion, an improvement over the $6.92 trillion reported in 2020. Businesses have the opportunity to take advantage of these trends and increase profitability through these new opportunities.
Contact Gilbert Data today – Know how our B2B eCommerce email lists can help you!
To understand eCommerce trends, you must first have a grasp of the puzzle pieces. In this article, we’ll look at the industry trends that are likely to drive B2B eCommerce.
Seven Trends That Will Drive B2B eCommerce In Years To Come
1. Adoption Of The DTC Model
The pandemic pushes businesses in the position to adapt DTC (direct to consumer) model to boost their sales. The companies that took these steps inspired many others to join the direct customer base. This includes all startups, small-sized, and big businesses from a variety of industries. From small brands like Rastelli to big companies like Heinz, we learn that DTC is a profitable B2B eCommerce.
DTC online commercial sales in the US rose 45.5% to $111.54 billion in 2020, as per the survey report from eMarketer, and 14.0% of total eCommerce retail sales. This applies to digital residents as well as famous brands. We expect relatively stable growth each year until 2023 when DTC eCommerce sales will reach $174.98 billion. This expectation on B2B eCommerce sales ensures that we are on the right path to reaching our consumers.
2. Rising B2B Marketplace
B2B eCommerce companies’ sales via online marketplaces are growing rapidly. According to statistics, a third of B2B buyers buy half or more of their purchases on marketplaces. In September 2021, 26% of B2B buyers accounted for 50% to 74% of B2B purchases on marketplaces. Back in 2018, Gartner estimated that 75% of B2B shopping spending will be spent via the online marketplace, and 2022 is the year this company is set to grow.
Explaining that Amazon and Alibaba are just two examples of big companies adapting their business model to buyers and sellers as part of the new B2B market trend. The nature of the markets enables them to help small businesses reach a more diversified and broader market.
3. Many Businesses Embrace B2B Smartphone eCommerce
In 2021, there were 6.378 billion smartphone users worldwide. This means that 80.63%
of the world’s population was using a smartphone. As more people rely on smartphones for their daily activities, they are becoming more important to businesses than ever before.
For example, many businesses have been relying on smartphones for work and shopping since the invention of this technology in the mid-1990s. This shows how much B2B buyers value mobile business offerings right now and underscore the importance of mobile eCommerce business offers that meet their expectations today.
4. Plenty Of Opportunities To B2B Social eCommerce
One of the main business trends in 2022 is the development of social commerce. Currently, there are 4.62 billion social media users worldwide. Businesses take advantage of this by using their social media platforms to sell their products and services directly to consumers.
They can communicate with their customers, promote their products, provide customer service, and even make purchases without going to another page or channel. This shows that social media is not just a marketing tool. It can be an extension of your digital purchases for your customers. You can see it in the form of a marketplace or Facebook store.
5. Need For Personalization
Customers are demanding more personalized experiences online when it comes to both branding and the products they buy. As a result, brands will be investing in refining their customer data and analytics to accurately predict what products customers want.
Personalization plays a key role in eCommerce. It helps you to track the needs and behavior of your consumers, so you can tailor their online shopping experience to their needs and desires.
With modern technologies, such as email-based on artificial intelligence, and marketing solutions, you can offer your customers a better and more personalized experience. Using machine learning and artificial intelligence, you can maximize the data you receive during each interaction with your customers. Then you can use it to customize product recommendations, email lists, and sales routes.
6. Consumers’ Expectations Of Various Payment Modes
Today, 72% of consumers choose contactless transactions over face-to-face transactions. Another trend in B2B eCommerce that will undoubtedly continue into the future is the need for a variety of payment methods. Various financing options are becoming a necessity for all commercial companies. Add payment methods like card payment, digital wallet, cryptocurrency, and bank transactions.
7. Openness To Self-service & Remote Interaction
A recent McKinsey study found that 70-80% of new customers prefer remote communication and self-service to personal communication. The study shows that B2B policymakers around the world believe that online trading and distance selling is as effective as personal engagement. In addition, a Gartner survey found that 44% of people in the B2B Millennium would not want to interact with the seller at all. As a result, Gartner expects that by 2025, 80% of B2B eCommerce sales interactions will be through digital channels. McKinsey’s study also suggests that these channels will be video and online chat, as their research has shown great interest in and use of these eCommerce platforms.
Grow Your B2B eCommerce Business In 2022 With Gilbert Data!
The eCommerce industry evolves quickly. As a result, consumers’ needs and behavior change constantly as well. To stay competitive in the market, B2B eCommerce companies must understand how to use new technologies and keep pace with technological innovations. For eCommerce businesses just getting started with email marketing, keep the following basic requirements in mind. This year has many opportunities for commercial business growth. So take advantage of these opportunities to reach your customers and grow your business.
So, setting up an email marketing campaign for your commercial business is a great way to reach out to new customers. This year promises to be very busy for the industry, so get started on your campaign now!
Visit our webpage to know about our B2B eCommerce companies email list.