B2B ecommerce is one of the fastest-growing segments of online retail. If you're selling to other businesses, the trends below are the ones reshaping how deals are won and lost.
In the UK, digital sales channels are projected to account for 56% of total B2B revenue, a clear sign of how dominant ecommerce has become in business-to-business sales. Whether you're a startup B2B brand or an established player looking to sharpen your digital game, here's where the industry is heading.
What is B2B ecommerce?
B2B ecommerce is an umbrella term for a range of businesses who sell products online to other businesses, as opposed to traditional ecommerce where retailers and brands sell online directly to consumers. B2B ecommerce describes various types of businesses including wholesalers, distributors, B2B2C brands, direct-to-consumer (DTC) brands and more. B2B customers often prioritise different qualities than traditional consumers and as a result, your ecommerce website should be agile and adapt to their unique needs.
How B2B ecommerce has evolved
B2B ecommerce has been growing rapidly as a result of changing buyer behaviour, more flexible B2B operations and advancements in technology. Leading B2B ecommerce platforms such as Shopify and Magento 2 are paving the way for B2B companies to move into direct-to-consumer (DTC) selling, and as a result, many B2B businesses are taking the leap. After a turbulent few years post-pandemic, B2B brands are remaining agile and pivoting to get ahead of the competition and adapt to changing buyer expectations.
Ten B2B ecommerce trends shaping the market
Whether you're a startup homeware wholesaler, fashion distribution brand or leading vehicle manufacturer, here are the trends shaping competitive advantage in B2B ecommerce.
1. Subscription-based business models
Subscription-based business models have been increasing in popularity across various ecommerce industries from beauty and personal care, all the way to household supplies and groceries. More traditional B2B businesses are now taking advantage of the subscription-based business model because of its strong advantages for business customers. No matter whether you're a B2B brand selling physical or digital goods or a service, there are a range of subscription business models enabling brands to see exceptional growth. SaaS subscriptions such as Salesforce and Slack, plus auto-replenishment models for consumables, are textbook examples.
2. Omnichannel experiences
Creating omnichannel shopping experiences for B2B customers is now paramount to success. Ensuring that every sales platform offers a unified and consistent experience is key to creating a memorable B2B brand that builds loyal customers. Considering that most customers are now using at least 10 sales channels before committing to a purchase, presenting your B2B business in a consistent and memorable way is key to driving conversions. More B2B companies are using social media than ever before. The question is, what sales channels are you using, and how can you strengthen your brand's presence across them all?
3. Personalisation is a priority
Personalisation has become a bit of a buzzword in the world of ecommerce but it's a lot more than that. Offering a personalised ecommerce experience can be the difference between securing a sale from a prospect business or them simply browsing and leaving your website without taking action. Hyper-personalisation is the new trend to watch. Your B2B brand should be tailoring key messages to decision-makers and ensuring that personalised content displayed is based on previous interactions and analytics software powered by AI. There are an abundance of AI-driven tools that can automate this process so each of your B2B customers encounters a personalised experience based on their individual preferences and search history.
4. Rapid order fulfilment
Ensuring lightning-fast order fulfilment is a top concern for most B2B businesses. After facing a plethora of challenges with the supply chain over recent years, ensuring rapid fulfilment and reliable shipping has become one of the top priorities for B2B brands aiming to develop robust relationships with customers. A reported 66% of B2B customers say order tracking and fulfilment is the top challenge they face, clearly highlighting the importance of implementing a reliable order fulfilment, shipping and tracking process.
5. AI-driven tools & insights
AI is infiltrating pretty much every corner of ecommerce and it doesn't end with B2B. AI-powered tools are becoming increasingly popular with B2B brands looking to gain deeper insights into customer behaviour, offer personalised online experiences and provide superior customer service and support for the businesses they serve. Not only can AI tools be used to improve ecommerce personalisation, AI can actively improve efficiency by automating operational processes, offering vital customer support, aiding inventory management and more. If you haven't researched the benefits of integrating AI tools into your B2B ecommerce website, we'd highly recommend doing so as you may be very surprised with just how much these tools can improve the overall health of your business.
6. Augmented reality (AR) shopping
The presence of AR in B2B ecommerce has been increasing as the technology becomes more accessible and customers become accustomed to using it. AR shopping experiences can enhance the overall look and feel of your ecommerce brand and foster a sense of trust in site visitors. AR features such as 'virtual try-outs' allow users to view a product within their space, helping them gauge size and scale, which in turn can make or break a sale. While this is a popular trend, it should be used only where relevant and appropriate. A furniture manufacturer selling to a retailer who wants to get a better feel for product size within their shop, without having to travel to a warehouse, is a great example of where AR shines.
7. Increase in headless commerce
Headless commerce has seen significant growth in popularity as ecommerce platforms diversify and branch out into new territories. For many B2B companies, complex inventories and catalogues are one of the biggest challenges of venturing into the ecommerce landscape. Headless commerce platforms allow for more in-depth customisation, which means that developers can create bespoke rules and implement new features without affecting speed and functionality of a website. When done right, headless commerce can lead to enhanced customer experiences, better back-end management and advanced scalability that is perfect for growing B2B ecommerce businesses.
8. SaaS payment solutions
B2B relationships are not always straightforward and often require advanced payment solutions that are personalised to different B2B buyers. As the general demand for flexible payment options rises, SaaS platforms are becoming the predominant way to deliver this. SaaS solutions enable B2B businesses to accept various payment methods such as payment instalment plans, purchase orders, bank transfers, credit cards and even a combination of a few options. This flexibility enables B2B brands to cater to a diverse range of customers and provides more opportunities to convert.
9. Sustainability goals
Sustainability is one of the key priorities for any business operating today. Depending on where your business sits within the B2B ecommerce industry, you'll likely be facing rising demand for sustainable and transparent practices as a result of increased regulations and consumer pressure. When it comes to sustainability, supply chain transparency and traceability is one of the leading trends within the B2B market, closely followed by an increase in eco-friendly packaging and carbon-neutral shipping. There are now many tools and platforms that make it easier than ever to demonstrate your dedication to protecting the planet, such as Shopify Planet and TrusTrace.
10. B2B goes global
Finally, B2B brands are increasingly focusing on cross-border commerce as improved logistics, new software and digital platforms are opening up new markets and revenue streams. Features such as multilingualism, currency conversions and tax compliance enable B2B brands to scale more easily than in previous years, allowing them to expand their horizons and sell to other businesses further afield.
The B2B ecommerce industry has never been more active and it's an extremely exciting time for those starting and scaling B2B businesses. If you need a hand developing a show-stopping B2B ecommerce website, don't hesitate to contact us.
