In 2020, B2B online sales skyrocketed because of the unwanted pandemic, forcing many companies to divert all business transactions online. Changes in buyer behavior meant businesses had to quickly adapt,
with early adopters enhancing their online capabilities through customer-centric features and versatile eCommerce platforms that will future-proof their business.
With inevitable changes both influenced by the pandemic and natural progression, we take a glance at 5 noteworthy business-to-business eCommerce trends to seem out for in 2021:
Traditional buyers migrate online
The coronavirus pandemic accelerated digital transformation for B2B companies. B2B online sales are expected to still grow in 2021, as buyers enjoy faster and easier ways to get beyond traditional B2B sales channels. consistent with McKinsey, only 30% of B2B eCommerce buyers still want to interact with a sales representative whilst the bulk would favor continuing making digital purchases. Buyers trust also sees companies increasing their average order values whereas previously B2B eCommerce was used for smaller transactions.
Direct-to-consumer release new revenue streams
Selling on to customers may be a lucrative strategy for several trade businesses, especially as ⅓ of consumers look to get directly from manufacturers. By removing the everyday B2B sales funnel, companies can gain more brand control and build strong relationships with their own customers. D2C brands can profit from personalization, subscription-based models, and buy now, pay later payment options, all of which help strengthen engagement, build loyalty and convert. B2B operations can still effectively grow successfully alongside any D2C venture.
Headless eCommerce
Just like our Peracto eCommerce platform, headless eCommerce decouples the front-end design from the back-end infrastructure, giving B2B companies the pliability to manage multiple channels from one API (Application Program Interface). Storefront changes are made faster than ever before, supporting existing pressures to quickly adapt to changes in buyer behavior and remain innovative above the competition. Headless eCommerce also allows B2B businesses to efficiently open up new revenue streams, a bit like the D2C trend above.
Improved user experiences
In May 2021, Google plans to release its latest algorithm which is able to have the largest impact on eCommerce stores that fail to deliver great user experiences. The update sees Google introduce 3 core web vitals - ‘loading’, ‘interactivity’, and ‘virtual stability'. together with other search signals like mobile-friendliness, safe browsing, HTTPS security, and intrusive interstitial guidelines, the core web vitals will measure the user experience of your website.
Google will preference websites that match its core web vital criteria and penalize others through lowered search rankings, impacting organic web traffic.
the increase in B2B marketplaces
Once seen as a B2C-only strategy, marketplaces are usurping an even bigger role in B2B eCommerce. in step with Gartner, a minimum of 70 percent of enterprise marketplaces launched will serve B2B transactions by 2023. By leveraging existing marketplaces, companies are able to elevate their brand with a limited budget, increase efficiencies, drive business growth and increase product awareness. together with utilizing existing marketplaces like Amazon, we’ll see an increase in businesses developing their own B2B marketplace.
Find out how BridgeWeb can help future-proof your online business through a tailored eCommerce strategy and leading platform.
