15 Mind-Blowing Stats About The B2B Buyer’s Journey In 2020
The experiences that people encounter in their everyday lives as consumers are now shaping their expectations in the B2B world, too.
Indeed, the lines continue to blur between B2B and B2C buyers, and it is this realization that has many companies playing catch-up with their B2B eCommerce strategies. So what does the modern B2B buyer’s journey look like? And how are they relying on digital channels to make more informed purchases online? The stats below answer these questions and plenty more.
1. When B2B buyers are considering a purchase, the majority (27%) of that time is spent researching independently online. Just 17% is spent meeting with potential suppliers. (Source: Gartner)
2. A whopping 77% of B2B buyers said the last purchase they made was complex or difficult. (Source: Gartner)
3. Sixty-one percent of B2B buyers said they rely on peers, current users, and review websites when evaluating a technology purchase. (Source: Demand Gen Report)
4. Four in 10 B2B companies worldwide said they believe capturing a complete view of the customer is a big priority in the next two years. (Source: eMarketer)
5. Fifty percent of B2B companies surveyed across the globe said mastering the omnichannel experience is a leading priority over the next two years. (Source: eMarketer)
6. One-third of respondents to a study said they aim to make better use of data to sell to and serve their customers throughout the B2B buyer’s journey. (Source: eMarketer)
7. In 2018 eCommerce represented 12% of total B2B sales in the U.S. (Source: Forrester)
8. When it comes to the marketplaces B2B buyers use to research and buy B2B products, Amazon Business takes the cake, cited by 78.4% of respondents. Rounding out the top four was Alibaba (36.5%), Thomas (28.4%), and Global Sources (16.6%). (Source: eMarketer)
9. This year, B2B companies in the U.S. will spend $6.08 billion on digital advertising, up 18.7% year over year. (Source: eMarketer)
10. Today’s B2B buying groups are more diverse than ever before. When surveyed, 75% of B2B buyers agreed or strongly agreed that their purchases involved people from a wide variety of roles, teams, and locations. (Source: Gartner)
11. Eighty percent of buyers are using their mobile phones throughout various touch points in the B2B buyer’s journey. (Source: BCG Research)
12. The total share of B2B sales made through an eCommerce site is expected to reach $1.8 trillion and account for 17% of all B2B sales in the U.S. by 2023. (Source: Forrester)
13. Seventy-six percent of B2B buyers said an eCommerce store’s site design is the most important factor in a buying decision. (Source: Zfort Group)
14. More than half (57%) of B2B purchase decisions are made before submitting the request. (Source: Zfort Group)
15. The average B2B wholesale buyer conversion rate is 10%, compared to 3% for B2C. (Source: Zfort Group)
Originally published at https://magento.com.
