14 B2B Ecommerce Trends Statistics and How to Win in 2023?
Quick Summary:
Selling through third-party online marketplaces, marketing and selling through social media platforms, seamless shopping experience, mobile devices for shopping, and the list is long for the top B2B eCommerce trends in 2023. Want to know all the important B2B eCommerce trends in 2023? The blog contains information that you need for your eCommerce business.
Introduction:
A lot has changed in the way how the people in the world do business in 2023. B2B eCommerce trends are coming and going rapidly but immensely leaving an impact on the eCommerce market. The outbreak of Covid-19 disease also affected supply chain management, shipping delays, worker shortages, and many other things.
The B2B industry has been evolving rapidly ever since digitization has come. Businesses are seriously considering eCommerce trends for customer loyalty, customer experience, expectations, and retention. Many small to large enterprises hire eCommerce developers for impressive website development to establish their strong online presence.
We have noticed the rippling impact of the shift in these 4 years in eCommerce trends, online retailers, inventory management, and personalized service have taken the place. There are a lot of things that have changed in just two couple of years in the B2B industry. If you are going to create an eCommerce site in 2023, you must know about the existing trends and emerging trends in the B2B eCommerce industry.
Top Statistics About eCommerce Trends And Customer Experience
To remain competitive in the eCommerce business, you must be equipped with the right information. Let’s have a look at the statistics about customer experience below.
1. Three reasons businesses invest in customer experience
2. Around 2/3 of companies compete on the basis of customer experiences
3. More than 85% of companies prioritize the user experience in their contact centers.
4. According to a report omnichannel customer customer service will increase in the near future.
5. More than 55% of customers don’t recommend a business with poor mobile-friendly designs.
6. Around 59% of traffic comes from smartphones
7. The global B2B eCommerce market is expected to grow by 20% in 2030
Top B2B eCommerce Trends to Follow in 2023
The global B2B eCommerce market size was expected 7,907.07 billion in 2022. It was expected to grow at the rate of 20.2% from 2023 to 2030. There are many other statistics that were considered by our team to come up with the right information for you. You can deliver personalized shopping experiences in your b2b eCommerce business. Have a look at the B2B eCommerce trends in 2023.
- Personalized Customer Experience
- Transition to Digital Channels
- Omnichannel Sales
- Mobile Wallets
- Digital Supply Chain
- Augmented Reality
- Large Manufacturers Launching Marketplaces
- Adoption of New Payment Options
- Focus on High-quality Service
- Larger Order Sizes
- Fast B2B Order Fulfillment
- Mobile-first Websites
- Upgrading Legacy Systems
- Better Inventory Management
1. Personalized Customer Experience:
The customer experience (CX) is vital for the immediate and long-term success of the brand. According to the white paper sponsored by Emplifi, more than 75% of brands believe customer experience is the critical competitive differentiator. So, companies analyze the buying process and customer expectations for better services.
They focus on both, new and existing customers. For this, companies check customer data, patterns, and buying behaviour. It also helps in offering a personalized customer experience It has a direct impact on customer loyalty which every company wants.
2. Transition to Digital Channels:
We have noticed a gradual transition in B2B sales. It used to close the sale through in-person sales. Now the online store is used by the B2B decision-makers. The number of eCommerce sites has increased. And today, most online sales happen through social media platforms.
Most businesses want to know how to build an eCommerce website for online B2B eCommerce business. The number of B2B eCommerce buyers who still use traditional in-person interaction with sales reps remained at only 30%. It is because today everyone likes to interact through digital channels. Digital commerce has accelerated to digital marketing as well.
3. Omnichannel Sales:
Many businesses offer sales channels like in-person, remote and eCommerce channels. Multiple channels make it easy for the target audience to buy a particular brand’s products from anywhere. Different channels are adopted by B2B eCommerce for marketing and sales to increase customers.
Internet users have access to vivid sales channels, they can shop using desktops, mobile apps, and brick-and-mortar stores. You can also make your online presence easily using free eCommerce website builders in 2023
Well, more than 90% of retail companies use multiple channels to interact with their customers in an offline and online space. According to a recent survey, around 60% of American consumers prefer online shopping.
The image below shows retail eCommerce sales worldwide from 2014 to 2026.
However, we can’t ignore the fact that 73% of consumers prefer shopping through multiple channels (According to the Harvard Business Review), and 20% of them shop in-store.
4. Mobile Wallets:
A mobile wallet is another great way to offer the best services to customers. Mobile wallets have helped to resolve supply chain issues as well. Around 40.5% pay through credit cards and 22.8% of consumers pay using a debit card.
There were around 2.8 billion mobile wallet users in the world in 2021. The use of Mobile wallets for digital sales is going to be 4 billion in 2024. Customers use Mobile wallets for different sales platforms. U.S. mobile wallet market size, by technology, 2020 – 2030 (USD Million).
5. Digital Supply Chain:
The global digital supply chain market was around $4000 in 2020. It is expected to reach $13700 million by 2030. Digital transformation is here to reduce supply chain complexity. Now businesses leverage technology to deal with supply chain issues.
Well, a supply chain differs as per business model. To meet customer expectations, reliable, fast and effective order execution is crucial. In B2B eCommerce, businesses have to focus on making impeccable supply chain processes. An effective digital supply chain leads to eCommerce sales.
If you want to remain competitive, you need to defend against global supply chain abnormalities. It is one of the important B2B eCommerce trends. B2B needs to build a robust digital supply chain framework to avoid issues.
However, many organizations have not yet started using digital supply chain. Have a look at the image below.
6. Augmented Reality:
The use of emerging technologies is also one of the B2B eCommerce trends. AR and VR shaping the future of eCommerce because many businesses are now able to offer effective customer services. Technologies boost customer loyalty. It adds new customers and improves the experience of existing customers.
Customers can visualize purchases with the help of AR technology. Read about how to create an Augmented Reality application in 2023 and be ahead of the curve. The technology has improved the conversion rate by 80%.
7. Large Manufacturers Launching Marketplaces:
Big marketplaces like Alibaba and Amazon business allowed their manufacturers to use a marketing and sales strategy to quickly handle the adverse situation after the pandemic. After some time these large manufacturers started to make their own marketplaces.
72% of large businesses that adopted their own marketplaces reported growth in market share in 2021. Well, launching a marketplace requires intense research so that you can get an advantage over some third-party online marketplaces.
Such a system needs time and effort in the social commerce world because you have to integrate eCommerce platforms for business processes. It helps in customer retention.
8. Adoption of New Payment Options:
New payment options are an effective B2B eCommerce trend because both business buyers and sellers can easily pay and receive payment for services. These options help to reach global markets quickly. Current customers also like to use new payment options. Credit as a service is an example of a new payment option.
Alibaba’s B2B eCommerce business also adopted this payment option. And it is available for businesses without any fees. Besides it, upgrading legacy systems is also not far off.
You can also check out the video
9. Focus on High-quality Service:
High-quality products have always been in demand and at the top of customer preferences. Self-service portals were also introduced to improve the quality of services. They help to streamline customer interaction and the relationship between the company and the customers.
For example, Amazon provides free and two-day shipping standards. Customers want their products to be delivered fast even if there are a lot of orders. For the best digital transformation with high-quality services, businesses use product information management software.
10. Companies Leaning Toward Sustainability:
Customers don’t like to buy products from companies that only focus on growth and profit and don’t care about the environment. According to a recent study, more than a third of global consumers are ready to pay for sustainability.
Today, there is a demand for environment-friendly alternatives. A more eco-friendly brand that focuses on reducing energy consumption has more loyal customers. In addition, according to McKinsey, more than 30% of businesses are ready to integrate a sustainable strategy to enhance operational efficiency.
11. Fast B2B Order Fulfillment:
Fast B2B order fulfilment has become crucial more than ever before because customers want delivery as soon as possible. Before Covid, 2.96 days was the average transit time for UPS. And by the end of 2021, UPS time back down to around 2 to 2.35 days.
It is way faster than before the Covid days. Many B2B brands are moving to third-party fulfillment (3PL) to streamline their fulfilment processes. They can use better business management tools and self-service tools.
12. Mobile-first Websites:
There are more than 4 billion active mobile users in the world. More than 50% of web visits are through mobiles. So, creating mobile-first websites has become vital in the present time. It has become customer behavior to visit sites on mobiles.
This type of trend in B2B eCommerce is effective for engaging customers and sales representative. It also increases the conversion rate.
13. Upgrading Legacy Systems:
legacy systems are outdated operating systems in eCommerce companies. Upgrading legacy system is crucial to connect with new trading partners, cloud applications, and new solutions. For efficient fulfillment processes and better social commerce, the legacy system needs to be updated.
There are three costs of maintaining this system.
- Security risks
- lacks insight and information
- Inefficiency and unpredictability
14. Better Inventory Management:
Without better inventory management, an impeccable supply chain system can’t be established. Businesses need to make a system in which goods can move easily and reach targets on time. It helps to meet customers’ expectations soon. For this, businesses have to successfully integrate physical and digital channels.
They have to create an effective “Phygital system”. You can leverage different technologies for effective inventory management.
These are the top B2B eCommerce trends. You should consider all of them while developing an eCommerce website for your business. If you want to build an app, check the cost to develop an eCommerce application here. This way, you can get a better idea about the market price for moving your business online.
Why eCommerce Trends Are Essential in 2023?
Competition is mounting every day in B2B eCommerce. In this situation, if businesses will not keep pace with changes, they can be out of the race soon. Considering eCommerce trends help a business to offer customers what is in demand at the current time. It can offer better customer service easily.
Find the best suitable platform for eCommerce development so that you can implement trends effectively on your site. Compare solutions provided by other competitors for the best B2B eCommerce business. Follow trends for everything and come up with an innovative solution.
Final Thought
What will be the face of B2B eCommerce trends in 2024? You can get an idea about the same by considering the eCommerce trends in 2023. If you are also planning for website or app development for your eCommerce business, Technource is the best software development company to help you. It provides cost-effective, robust, and secure software services.
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