The Rise of B2B eCommerce
The coronavirus pandemic brought sudden and formidable challenges for B2B manufacturing companies.
"It's not just big business; it's mainstream business." says the experts referring to B2B eCommerce sales.
U.S. B2B commerce sales grew almost 18% compared with 2020, reaching $1.64 trillion, or 12.5% of all U.S. manufacturing and distributor sales.
According to statistics, the growth rate for B2B eCommerce in 2021 was significantly faster than the 15.2% growth rate for all U.S. manufacturing and distributor sales, which reached about $13.1 trillion in 2021.
Within B2B eCommerce, marketplaces are now soundly part of the mainstream.
Estimation for the marketplace sales in 2021 represented 0.4% of all B2B sales and 0.5% of all electronic B2B sales. In a few years, marketplace sales could grow from 2% to 4% of overall B2B sales. Unexpectedly, an eCommerce channel on the B2B side grows faster than on the B2C side.
Most of the growth in eCommerce marketplace sales is probably due to the development of the Amazon Business platform, which represents an opportunity for other marketplace operators as the marketplaces improve and more B2B customers buy on marketplaces.
The good news for sellers is that B2B sellers know their customers and have inventory that Amazon will never have.
Here are some key statistics on the subject:
32% of B2B buyers rank eCommerce as the most effective channel.
51% of B2B buyers use an eCommerce site if they are attracted to an excellent user experience.
56% of B2B sellers report 11% or more sales growth in 2021.
50% of B2B sellers anticipate significant challenges in securing the funds they need to improve their businesses. It covers technology and business trends in the growing B2B eCommerce industry.