Understanding what is happening in B2B and B2C helps us craft our individual strategies in E-Commerce. The following B2B e-commerce trends and statistics have been collected from around the interwebs and are linked to the source by clicking on the round boxes.
Table of Contents
Emerging B2B E-Commerce Trends
Frost & Sullivan projects that B2B e-commerce will hit $12 trillion in sales worldwide by 2020, up from $5.5 trillion in 2012. This number is inclusive of EDI, by the way. However, with over $600B in non-EDI B2B e-commerce transactions in 2013, we can expect major growth into the trillions over the next couple years. Archana Vidyasekar, senior research analyst in Frost & Sullivan’s Visionary Research Group, which conducted the study, says there are multiple reasons why B2B e-commerce tops their list. And they’re all tied to increasing pressure on companies to sell online to other companies.
“The main drivers for migration to B2B is the pressure from industry leaders to move to online platforms,” she says. That pressure comes in multiple forms, she adds, including:
- an expectation among a growing number of companies to conduct buying and selling online;
- a shift from some companies to conduct procurement transactions through the Internet instead of through electronic data interchange, or EDI;
- the growing interest of companies in placing orders through mobile commerce devices;
- and the increasing popularity of e-marketplaces such as Alibaba.com and AmazonSupply.com.
B2B Customer Experience Trends
B2B Researchers use Google throughout
On average, B2B researchers do 12 searches prior to engaging on a specific brand’s site.
B2B Researchers use the Internet
89% of B2B researchers use the internet during the B2B research process.
Buyers use Google to research
73% of of global traffic to B2B company sites originate from the search engines. Most will not go past the first page of Google.
B2B Buying Decisions
57% of the buying process is done prior to engaging with Sales. B2B sites should be sales tools assisting the buying process.
Consumerization of B2B
80% of companies implementing B2B e-commerce believe that their customer expectations have changed due to B2C practices.
B2B Buyers buy by Committee
70% of B2B purchase decisions include at least 2 decision makers. Almost 30% of b2b transactions include more than 5 decision makers. Our sites need to serve multiple roles.
B2B is truly Global
B2B organizations operate in an average of 7 languages. Multiple languages, currencies and cultures shape the expectation of customers coming to our site.
Make information Easy to find
76% of customers say the most important factor in a website’s design is “the website makes it easy for me to find what I want”
Buyers want Enhanced Search
76% of B2B buyers listed Enhanced Search as one of their top three features, with 48% of B2B sellers citing enhanced search as a top technology priority
Personalization is Needed
50% of B2B buyers surveyed identified improved personalization as being a key feature for suppliers they would want to work with.
B2B Social Influence
75% of B2B Buyers are influenced by Social. The new B2B buyer is educated, social and doesn’t require face to face contact.
B2B E-Commerce Sales Statistics
B2B E-Commerce Sales almost double B2C
Customer-facing front-end B2B e-commerce will reach $559 billion – that number excludes EDI transactions.
Purchase influencers matter
81% of non-C-suiters have a say in purchase decisions.
B2B E-Commerce isn’t all channel shift
31% of B2B e-commerce revenue will be incremental
Print Catalogs Declining
69% say they expect to stop printing a catalog within five years. Online catalogs are replacing print catalogs. Not a bad thing for our environment.
Average Order Value
The average order value was $491 for B2B respondents versus $147 for consumer-oriented e-commerce executives.
Technology and Integration Trends
Buyers want more integration
40% of B2B buyers identified back-end integration with financing, accounting, order management systems (OMS), or enterprise resource planning (ERP) systems as a key feature for suppliers to offer.
ERP is important to the Customer experience
Nearly 85% of large IME organizations with 5,000 employees or more indicated that their ERP is a vital platform for delivering a good customer experience.
Integration with ERP a key initiative
60% of B2B executive cite integration with ERP and Accounting system a top technology priority.