B2B eCommerce is booming. It’s expected that the total volume done online for B2B will surpass $1 trillion by 2020. The reason for this is because consumers expect B2C experiences in all aspects of their life so they expect it in their business life as well. This is translating into a strong demand.
We’re seeing that over half of manufacturers and distributors expect to be managing the majority of their orders online by 2020. 93% of B2B buyers prefer to purchase online once they’ve decided what to purchase (Forrester). 62% of consumers agree that eCommerce maintains or increases customer loyalty (Forrester).
“I’ve seen, through my experience at Target.com and Jet.com, that this is true” said Chris Peterson, Four51 eCommerce director. “And the stickiness that you can establish with a customer by delivering a strong online experience is very profound.” In 2017, it’s clear that businesses need to focus their attention and effort to their B2B eCommerce strategy.
As the year unfolds, we’ll see these five 2017 B2B eCommerce trends prevail:
- Businesses will take a best-of-breed approach when it comes to selecting the right technology to solve their unique business challenges.
- Business complexity has reached an all-time high. In 2017, the B2B winners will support sophisticated workflows to make that complexity simple through automation.
- One of the major differences between B2B and B2C is that B2B customers are buying while B2C customers are shopping. In 2017, we’ll start to see businesses take advantage of rich product data to enhance search, but also to educate buyers, empower buyers, and encourage buyers to buy.
- In B2B, every industry is different and every experience, no matter the type of buyer, is unique. In 2017, open marketplaces that involve many suppliers selling to many businesses through one distributor, will start to explode.
- Early adopters in B2B will start to implement ordering capabilities that involve natural language interfaces like voice, chat, Slack or text, also called conversational commerce.
Watch this live webinar in its entirety featuring Chris Peterson, Four51 eCommerce Director; Emily Erickson, Four51 Marketing Specialist; and Matt Osborn, Apruve Senior Marketing Manager, as they dig deep into these important B2B eCommerce trends your business needs to know about as we move into 2017.