The business-to-business (B2B) market, connecting manufacturers with wholesalers or wholesalers with retailers, has been transformed by the advent of B2B eCommerce. Traditional sales methods have been upended, with 74% of B2B buyers now indicating that purchasing from a website is more convenient than dealing with a sales representative. This shift signifies a profound change in how businesses conduct transactions and engage with their customers.
In 2018, the global B2B eCommerce market surpassed a staggering 10.6 trillion U.S. dollars in revenue. Over the past decade, it has exhibited an impressive average growth rate of 13% per year. This growth is fueled by the expectations of a younger generation of buyers who demand the same quality of B2B eCommerce experiences as they enjoy in their personal B2C shopping. As a result, companies that excel in their B2B eCommerce offerings can see substantial increases in average order values and up to 60% more spending from their B2B buyers.
With these trends, it's clear that the role of the B2B salesman is evolving. Businesses must adapt to these changes to stay competitive. By leveraging advanced eCommerce platforms, B2B sellers can provide a seamless, user-friendly shopping experience that meets the high standards of modern buyers, ensuring sustained growth and customer satisfaction.
Infographic: Key B2B e-Commerce Trends
To illustrate these trends and statistics more vividly, the following infographics provide a visual representation of the key points discussed. These infographics highlight the rapid growth of the B2B eCommerce market, the shift in buyer preferences, and the potential benefits for businesses that embrace these changes.
Infographics by GO-Globe Web Design Dubai
The buyers want control over their purchases, and they prefer self-service. But that doesn't mean they also need customer service in the form of a company representative. This role is still needed in the case of new products or complex configurations. The convincing part of self-service is the reduction of costs by up to 90 percent for the seller.
Related: B2B Marketing Trends [Infographic]
The trends of B2B eCommerce are showing the growth of big marketplaces like Amazon and Alibaba. Estimates show a 50 percent increase in B2B e-commerce orders through a marketplace by 2022. But that doesn’t mean there is no room for niche markets. Some industries offer complex products that need much expert knowledge to sell. These industries need to create unique online experiences to serve the needs of their customers.
