Last updated on December 5th, 2016 at 03:22 pm
Wherever you look, from research organisations like, Forresters, Frost & Sullivan, business news like Forbes, or sector media like, Internet Magazine, Branding, Consultancy… the B2B ecommerce market is set to explode!
Forresters forecasts that US B2B ecommerce is set to grow form $780 billion in 2015 to an enormous $1.13 trillion in just 5 years. Meanwhile, according to another research article, this time from Frost & Sullivan, the International marketplace for B2B ecommerce is projected to be worth $6.7 trillion by 2020. This same article sites that this trend will make the B2B ecommerce market, TWICE THE SIZE OF B2C ($3.2trillion) within the same timeframe! So what can we take from this enormous growth potential? How can we use these figures and apply them to our own businesses?
First some suggestions as to what is behind the B2B Growth. Forresters cite: changes to B2B buyer preferences, opportunities for B2B firms to reduce their costs and the value of building loyal multi-channel B2B customers. All of which make perfect sense. The figures back up the statements, as one would expect. For example whilst 30% of today’s B2B buyers complete at least half of their work purchases online, that is set to nearly double to 56% by 2017. Imagining this sort of increase is heart-warming, but it will certainly need careful planning. Aspidistra’s advice: All B2B solutions are not created equal. At the very least you need a system that integrates with your accounts. At best you want one that is totally integrated with your accounts and entire business system. . Because a truly satisfying B2B ecommerce experience (the sort that is going to get your customers coming back time and time again), the customer is expecting integration, stock-knowledge, credit and account information, white-labelling and more. And for all this, we are looking at an “Integrated B2B Ecommerce” solution. And anything less, simply will not do.
Sources: Forresters Blog: http://blogs.forrester.com/andyhoar/15-04-02-usb2becommercetoreach11trillionby_2020
– See more at: http://www.aspidistra.com/Blog/B2B-Ecommerce-set-to-Explode-So-how-do-you-take-best-advantage#sthash.iab4Xr1G.dpuf