Why should businesses be looking at B2B eCommerce?
Most B2B businesses are shifting online and offering a convenient way to do transactions. The adoption of B2B eCommerce has grown by leaps and bounds in the last decade. According to Forrester, a global market research company, the US B2B eCommerce is expected to hit the $1.8 trillion mark, representing 17% of all B2B sales in 2023.
The eCommerce growth is outpacing the traditional method of selling in the B2B space. B2B businesses need to adapt to the shopping habits of online customers. B2B eCommerce has now become an important wholesale channel. No wonder, the number of B2B entrepreneurs who have reaped the benefits of digital transformation has gone up significantly.
B2B eCommerce platform will enable businesses to create sophisticated websites that cater to the unique needs of large customers. It will help them deliver a B2C-like experience and boost customer engagement and satisfaction.
Why should Companies adopt a B2B eCommerce Solution?
According to Statista, in 2025, the North American B2B eCommerce market is expected to cross the $4,600 billion mark. Another reason why B2B companies should be looking at eCommerce.
B2B customers don’t like to depend on accounts managers or sales reps for processes like reordering, making payments, etc. While placing orders they want to view inventory information in real-time. A B2B eCommerce platform can help you to achieve all that and much more as mentioned below:
Tap New Markets
Moving your B2B business online will open the door to new markets for you. Brick-and-mortar stores make it extremely difficult to target the overseas market which can be easily addressed using eCommerce. B2B eCommerce penetration has increased tremendously in recent years which will allow you to reach fast-growing markets.
Provide an Excellent Shopping Experience
A full-featured eCommerce store will simplify the B2B buying process. Your customers no longer have to contact sales representatives for bulk purchases. You can let your buyers do self-service. The buyers gain confidence and convenience whenever they place an order through your eCommerce store.
Less Administrative Work
An all-in-one B2B eCommerce solution streamlines and automates key business processes, saving a lot of time and money. For instance, you don’t have to copy orders back and forth as the process of data transfer is automated throughout the system. You get the self-updating inventory with quantities updated in real-time as the items get re-stocked. All your customer data including shipping and billing address is available at one central location.
Improve Efficiency
When you adopt digital technologies into your B2B organization, you empower your sales reps to sell faster. You can optimize resources, save time and work more efficiently.
An all-inclusive solution that allows you to create a custom eCommerce store for your clients will surely transform your business online. It will turn your salespeople more productive, smart, and insightful. Your salespeople will get the confidence to make effective and proactive conversations with your customers.
Final Thoughts
Digital transformation has taken the world by storm and is redefining the way we do business transactions. B2B organizations need to abstain from using conventional methods of selling, instead go for eCommerce and provide a seamless shopping experience across channels.
