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Ecommerce Insights - 8

Why adopting B2B E-commerce is the way to the future for enterprise wholesale brands

B2B ecommerce industry has taken over its B2C counterpart and evolving at a pace like never before. Brands planning to modernize their business have taken the ecommerce route and digitised their sales channels to the liking of their modern buyers. With 73% of B2B buyers being Millenials, who prefer online shopping over traditional offline businesses, major changes in the B2B sphere are inevitable. Surveys suggest that 64% of B2B companies are already planning to increase their investment in building their own B2B ecommerce platform to facilitate their buyers, sellers, distributors and other stakeholders. With tailor-made B2B E-commerce websites and integrations with the best-in-breed software and service providers, B2B brands can make their processes efficient, automated and streamlined and also close their sale-deals faster. Connecting with customers on their favourite touchpoints makes it easier for B2B ecommerce brands to keep their buyers loyal.

B2B Ecommerce buying patterns and trends

  • 74% of B2B buyers find buying from a website easier than buying offline 
  • 97% of B2B buyers prefer a completely digital self-serve model over sales-rep-driven buying
  • 93% of B2B buyers prefer buying online once they have researched and finalized their products
  • 90% savings in sales and operating costs of retailers who launch their B2B ecommerce platform
  • 60% of B2B ecommerce businesses said multi-channel interactions with buyers increase their average ticket size

Source: Statista, Google, Forrester, Digital Commerce 360, Research and Markets

Global B2B Ecommerce growth trends

  • $20.9 trillion is the projected value of the global B2B ecommerce market by 2027

  • 17.5% CAGR of B2B ecommerce during the forecast period 2022-2027

  • 136% forecasted growth of B2B e-commerce market value in Europe from 2022 to 2025

  • 10X+ forecasted growth in market size of B2B ecommerce in India from 2021 to 2025

  • $6.7 trillion is the projected B2B ecommerce volume in the USA

Source: Statista, Digital Commerce 360