B2B eCommerce Trends Showing Promise in 2016
The present business-to-business(B2B) market trends show that the United States and China are likely to be the undisputed leaders of the B2B eCommerce market in the coming years. If you believe these B2B eCommerce trends, B2B sales are expected to cross $1.2 billion by 2020. In this booming B2B economy, it’s important for businesses to follow the trends that could influence the market in the coming years and help you stay ahead of the pack.
Here are some expected B2B eCommerce trends in the coming year:
Growth of technology investments
Forrester research predicts an increased influence of wholesalers and manufacturers in B2B eCommerce compared to retailers. The former are expected to make increased e-commerce technology investments in the next three years.
Increasing popularity of Mobile Commerce
The proliferation of mobile technology has ensured that 52% of B2B consumers leverage this platform to look for products online. This B2B eCommerce trend is likely to grow, with mobile commerce becoming a key player in B2B market. Additionally, it is expected that the number of consumers ultimately making purchase decisions after researching for products online will rise.
Rising focus on enhancing Customer Experience
Creating a positive customer experience is critical to building lasting relationship with customers. As a result, B2B companies are focusing on enhancing the buyer experience that can get them an edge over the competition and influence profitability. B2B buyers look for a user-friendly eCommerce interface, with clear merchandising guidelines, informative & useful content, high resolution product images, and product specifications. With clear details, you can improve the buyer experience and facilitate their decision-making process.
Rise in the Marketplace model
Marketplace and Direct are the two key B2B eCommerce models. Under the Direct model, a company must set up its own eCommerce platform to enable customers to place an order. On the other hand, under the Marketplace model, a company must have a common platform to sell its products and connect with suppliers. If we go with the B2B eCommerce trends, the Marketplace model will continue to be the top choice for distributors, wholesalers, and manufacturers, wholesalers. Additionally, it provides a platform for buyers and sellers to harness the power of eCommerce industry.
Mobile wallets next big thing
There is a growing preference for mobile wallets and contactless payments in the B2B eCommerce market. If security concerns are addressed, it may influence buyers to use mobile wallets.
The ever-changing B2B eCommerce landscape should be an eye-opener for businesses to embrace the changes and get an edge over the competition. You must to be on par or ahead of your competition.
Contact Us to find out how we can start helping your B2B eCommerce Business save money on Warehousing & Shipping as well as other areas of eCommerce like Managing Your Customer Service, Kitting and Assembly and Convention Logistics.