eCommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet.
As technology moves forward, e-commerce has become more popular over the years, and as a result of the pandemic, it has become the most used method to purchase products or services.
eCommerce is mostly used by companies that sell directly to consumers, meaning B2C companies such as retailers. Nonetheless, B2B companies are also making their transition to an online platform.
As previously mentioned, eCommerce is the process of selling goods and services online, so how does B2B eCommerce work? It is the process of selling goods and services between two businesses using the internet.
Previously, many B2B companies didn’t have an online platform, in fact, only 9% of B2B sales in the US were made through an eCommerce website.
B2B enterprises were motivated to enable an eCommerce platform as a result of all the changes the pandemic prompted, and now it is predicted that B2B eCommerce will represent 17% of all B2B sales in the US by 2023.
For B2B businesses, it is essential to start adopting an online platform in order to follow the trends in B2B eCommerce. By 2025, 80% of B2B sales interactions would take place through digital platforms, according to a Gartner study.
One of the reasons why B2B eCommerce is being used by more companies is that millennials (who grew up around technology) are getting more decision-making positions. Research made by The Mx Group shows that 44% of millennials are making purchasing decisions in B2B companies, and 33% of millennials are recommenders in the ordering process.
Since the number of millennials in decision-making positions will increase in the future, it is important for B2B companies to set up an eCommerce platform, so they can reach their customers exactly where they are.
B2B companies aren’t just making their transition to online platforms because of their customers' preferences, they are also making the movement thanks to its benefits, such as:
Having an eCommerce platform allows you to manage all your customers’ orders in one place, reducing the errors when doing it manually. This can also help you deliver a great experience to your customers.
With an eCommerce platform, your customers can pretty much place orders from anywhere at any time, increasing the likelihood of making more sales since clients will always be able to buy your products right away.
One of the most important benefits of B2B eCommerce is that you don’t need to drive miles to visit your customers to create an order, and then have to drive again to deliver the products. Since your customers can order your products online, you will save time and money.
The use of eCommerce by B2B companies has been increasing over time, and now B2B companies should implement an eCommerce strategy so they can meet their customers’ expectations.
With Listaso, you can provide your customers with a Web and Mobile eCommerce platform that is synchronized with our automated system, allowing you to have better control over their orders.
If you want to know how our B2B eCommerce App works, you can schedule a demo here.
B2B companies aren’t just making their transition to online platforms because of their customers' preferences, they are also making the movement thanks to its benefits, such as: Better management of your orders.Read More
In a time when information is easier to access than ever, and everyone is constantly connected via pocket-sized devices, people want more convenience. They want to feel free to order what they want when they need it without having to wait.Read More