TOP B2B ECOMMERCE TRENDS & STATISTICS — UPDATED 2023

The landscape of eCommerce is always changing, and it’s important to be aware of the emerging trends that make up its overall evolution. With the disruption of COVID-19, new trends have emerged, and the eCommerce landscape is transforming. B2B companies are implementing new strategies to adapt to a changing market and keep up with new trends and customer expectations each year. In this blog, we’ll discuss the top emerging B2B eCommerce trends which are a mix of tech, consumer and business developments as well as some key calls to action for B2Bs to optimize their eCommerce strategy. Let’s get started!

Market overview and impressive B2B eCommerce statistics

Overview of B2B eCommerce market

CHECK OUT OUR MAGENTO DEVELOPMENT SERVICES

The audience is changing

Furthermore, 73% of millennials are currently participating in the B2B purchasing process. Many people have been baffled by this generation, but there are several distinct qualities that explain how and why they work. Instead of the hands-on experience that a sales representative may provide, millennials expect the same personalized experience delivered through simplified, digital channels such as websites and apps. B2B eCommerce grew from the desire of business buyers to make business purchases as easily as they make their own personal purchases

Digital marketing efforts are being implemented

Numerous firms are also examining AI as a means of gaining a competitive advantage via chatbots and search marketing. Additionally, The use of augmented reality (AR) is also becoming one of the most popular B2B eCommerce trends. By 2022, 25% of organizations are predicted to begin using AR, while another 70% are expected to experiment with it.

New payment options are being adopted

B2B eCommerce Statistics

In fact, More than a third of the content demand comes from IT audiences, followed by executives, HR, marketing, and educational audiences. However, given how rapidly technology advances and how many firms have an interest in it, this year’s gain is expected to be only 3% higher than the previous year.

Furthermore, according to B2B eCommerce statistics, up to 80% of B2B purchase decisions are influenced by a buyer’s direct or indirect customer experience, with just 20% of decisions based on price or specific product.

Top B2B Ecommerce Trends for 2023

B2B eCommerce strategic trends

Organizations are rolling out B2B eCommerce to existing customers first

It’s not only about optimizing performance for most brands when it comes to improving engagement. For a better self-service experience, powerful integrations that transport data in real-time are needed. Self-service portals must make order management, modification, as well as real-time order tracking intuitive and accessible on all devices.

Integration of Systems for Multi-Channel Selling

According to 57% of B2B executives, another top technological requirement for the next B2B eCommerce trends was eCommerce integration. Another top technological requirement, according to 57% of B2B executives, was eCommerce integration. They defined eCommerce integration as the process of integrating backend technology for managing operations such as inventories and client orders with their eCommerce platform.

With pre-built connections provided by integration providers such as nChannel, eCommerce platforms can be integrated with backend systems like ERP/Accounting, POS, or 3PL in order to boost operational efficiency and prevent costly data processing errors. However, if you’re going down this route, you’ll need an integration provider to connect all of your various systems in order to run your organization more effectively.

Sales Models Based On Subscription Services

For example, Rather than purchasing telemetry sensors and hiring someone to monitor them, the provider can install them and monitor hundreds of data systems at the same time over the internet. The beneficiary will only receive the results of the measurements, which will be tailored to meet their specific needs.

Explosion of Marketplaces

For as long as there have been marketplaces, buyers and sellers have been able to connect. It’s not hard to see why: the B2B marketplace saves time and money on research and comparison shopping while also expediting fulfillment and giving buyers a sense of security. When it comes to the B2B eCommerce trends, Amazon is known as the leader of online purchasing, and B2B markets are swiftly following suit. By 2023, RBC Capital Markets expects Amazon Business, an Amazon B2B marketplace, will take over the $67 trillion B2B industry and generate $52 billion in sales.

In this way. In order to better meet the needs of B2B customers, more and more vendors are entering the B2B industry. Gartner expects that by 2023, more than 15% of medium-to-high-grossing eCommerce firms will have started their own markets, and 70% of all marketplaces built by then will be B2B-friendly.

B2B eCommerce trend: Customer experience trends

AI-assisted upselling and cross-selling

Enhanced distribution and fulfillment planning

B2B Customer Personalization

According to research, 50% of B2B buyers look for online providers with whom they can create connections, and customers spend 48% more when the experience is personalized.

And to fully personalize B2B buying experiences, brands must take advantage of customer data, AI, and machine learning. Employee experience may be a fantastic beginning point for many B2B companies in order to develop a unique customer experience. Many employees are now working from home, and providing them with a positive online experience would empower and inspire them to give better customer care to their customers.

B2B eCommerce trends: Economical

Millennials are pushing organizations to deliver great B2B eCommerce experiences

Additionally, Different organizations define the ease of doing business differently. But that implies one thing for manufacturers whose entire business relies on ERP. Because millennials won’t pick up the phone if they can avoid it, B2B eCommerce should give personalized, real-time ERP data to B2B customers.

M-Commerce

According to Statista, there were over 3.6 billion smartphone users globally as of 2020, and the number is likely to expand, even more, reaching more than 4 billion by 2023. In order to provide the best experience possible for your current and prospective customers, you should make significant investments in mobile research and marketing.

Growth of Self-Service

According to Oro Commerce’s research, 86% of customers prefer to order, reorder, and check order statuses using self-service capabilities rather than contacting sales staff. For B2B buyers, this number will rise to 57% by 2021, and it will continue to rise over the next few years.

B2B eCommerce trends: Technology

ERP Integration

Organizations that rely on ERP systems are finding this architecture unmanageably difficult to maintain. It is necessary to update business rules in the ERP system in order for synchronization to work properly; otherwise, problems will occur during the process. And whether you outsource or hire in-house to fulfill that demand, it will not be inexpensive — and the chance of coordination issues will be considerable. That’s why real-time ERP connection is becoming increasingly popular in B2B eCommerce. In this way. A growing number of vendors are quickly coming into the B2B sector. In fact, Gartner expects that by 2023, over 15% of medium-to-high-gross eCommerce firms will have created their own marketplaces, with 70% supporting B2B transactions.

More Cloud Adoption

Half of the technology professionals surveyed claimed that their cloud plans had been altered. According to IDC’s 2021 FutureScape analysis, over 80% of businesses would switch to cloud-centric infrastructure and applications by the year 2021, which is double last year’s predictions.

Basically, Businesses are increasingly relying on the cloud to provide future-proof operations and to maintain flexibility in the years ahead. They expect to continue or increase their cloud technology investments in order to streamline operations, increase efficiency, and maintain flexibility…

B2B eCommerce marketing best practices

Combine eye-catching content with a profitable business model

When it comes to providing the type of information your audience wants, it’s now easier than ever to do it using a variety of media types, such as product photographs, product sheets, and videos. Afterward, you can leverage your audience to help you produce unique case studies for each consumer segment, which will help you gain new customers.

Pay close attention to the consumer experience

Additionally, by utilizing an SEO-friendly platform, you can make it easier for your clients to locate you. Page load times should be considered, as should structured data adoption. A URL structure that is short, clear, and SEO-friendly should also be considered in order to position your website at the top of search results.

Optimize your customer catalog

Also, make the navigation and search functions on the site intuitive and lively. For example, by providing your customers with a product stock count, they can have a better understanding of what they need to do in terms of inventory planning.

Create an accessible customer portal

Allow for a variety of price options (e.g. request a quote)

Create a unique customer experience

Allow bulk ordering

In Conclusion

Before you go, don’t forget to take a look at this infographic from Chetu — Magento Commerce Developers.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Magenest JSC

Magenest JSC is a full-scale digital solution provider with a special focus on eCommerce, ERP, CRM, Cloud Infrastructure… Website: https://magenest.com/