B2B e-commerce is proving to be a boon for business-to-business deals. According to SmartHint, a smart search program for e-commerce, online retail has seen an increase in revenue - compared to the pre-pandemic period - reaching an incredible 785% in the first months of 2022.
This increase is a result of e-commerce adapting to the social and economic landscape. In reference to B2B, Business to Business , this business modality exercises sales and purchases between corporations.
B2B sales are growing exponentially in everyday life, whether through traditional interactions or e-commerce. However, the future holds an expansion of sales in the virtual environment. According to a McKinsey Company survey, 65% of B2B companies will be selling exclusively in the digital environment by 2022. Also in the survey, the data reveals that suppliers that sell B2B sales online have a better grasp of the digital marketplace. As a result, e-commerce has become an essential sales channel for B2B companies.
E-commerce brings several advantages to companies: customized sales, more sustainable cash flow, convenience and better customer relations. According to a study conducted by NZN Intelligence, 74% of consumers prefer online sales, which shows that this type of business is cogitated in view of its benefits.
With this, companies seek to be more attuned to the various possibilities of expansion and dynamism that e-commerce can offer. According to a Google survey in partnership with Euromonitor, this online business environment is expected to grow up to 42% by 2025.
As 2023 approaches, business owners need to establish new strategies and recalculate some routes to ensure their commerce reaches exponential numbers for the market. To make this happen, it is necessary to be aware of some trends in ecommerce that will impact the coming year.
1. Customization of the customer experience
In a highly competitive landscape, customer experience is an essential and decisive point. Sales businesses in the digital environment tend to make it easier and easier to purchase products.
In order to break down barriers at the point of purchase, white label platforms are tipped to be a differentiator in e-commerce by 2023. They are able to adapt to different business models in the marketplace, providing flexibility of customization to priorities and purpose in the financial sphere.
According to a survey conducted by Opinion Box, a company specializing in intelligent search, 72% of customers expect companies to recognize them as unique individuals and to acknowledge their interests. B2B brands can understand their audience by regularly collecting consumer data and using it to personalize the buyer's journey.
White label platforms personalize the service. The company leaves the environment with your brand's interface and directs the consumer to your product, which avoids possible competition and draws exclusive attention to your business.
The market is dynamic, and often some business models are set aside for others to be deployed as the landscape rises. With the White Label platform this is not an obstacle: no matter which way the market leans, the White Label application remodels itself according to the business vision.
2. Omnichannel
This trend promises to be a boon for the year 2023. Walking alongside the customization of white label platforms, omnichannel refers to the convergence between the different channels of a corporation. That is, we are talking about an online sales model that provides an insertion in customers' experiences, regardless of which channel they interact with the brand.
After two years with a shaky economy due to the Covid-19 pandemic, several companies implemented omnichannel capabilities in their activities. The result was effective exponential growth: research by Adobe found that corporations that applied omnichannel techniques experienced a 10% increase in annual revenue.
Omnichannel is a driver for B2B ecommerce growth in the coming years. In a report produced by the Mckinsey Company, which surveyed 3,500 decision makers, it was assessed that what customers crave most from omnichannel is more channels, more profitability, and in turn, a personalized experience.
3. Expediting orders
Meeting demands and delivering them to customers faster is one way for B2B brands to draw more buyers' attention to their business.
Through UPS, a leading shipping and delivery logistics company, before the pandemic, the average delivery time for products was about 2.96 days. By the end of 2020, at the peak of the spread of the pathology, the average delivery time increased to 4.96 days. However, by the end of 2021, the numbers dropped to about 2 to 2.35 days, a mark lower than it was before the pandemic.
The data shows that delivery dispatch has become an important factor in B2B sales. Making the shopping experience easy and delivering the product in a short time to the customer, besides fulfilling the order, increases the consumer's desire to buy again with the brand, which gives more credibility.
4. Sustainability
Awareness of ESG practices is becoming increasingly consolidated within companies. The acronym covers the concept of sustainability in the internal and external sphere of corporations, and in ecommerce the sustainable thesis is included as a trend for 2023.
By implementing greener practices, B2B brands create initiatives that align with sustainability, which contributes to both the environment and business.
According to an analysis made by Net0, a company focused on carbon emission neutralization, customers are usually 4.3 times more loyal to companies that carry out ecological and sustainable practices in the market.
Thus, some initiatives rely on packaging, product materials, or reducing energy consumption in manufacturing, among others. In addition, the key point is to find ways for B2B companies to be more environmentally friendly, which will be an important trend for the coming years.
As 2023 approaches, B2B e-commerce trends will be a game changer for those who start implementing them over the first few months. Ensuring that brands are on top of new marketing strategies and tactics helps keep the company high in the eyes of potential customers.
Founded in 2019, Easy B2B is a digital retail startup aimed at facilitating the buying and selling process between businesses.
By Renato Ferraz, CEO of Easy B2B.
