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It is not surprising that B2B ecommerce is on course to smash global revenue predictions. A maturing market, it is seeing more and more customers switching to online buying. Comgem, the UK’s leading developer of B2B ecommerce solutions, says new research points to continued growth - with up to half of customers buying online in the next two years.
A survey* carried out by Forrester Research in the U.S. has found 70% of respondents expect a quarter of their customers to switch to B2B ecommerce within the next twenty-four months. The study, undertaken in conjunction with B2BecNews, further found that nearly half of that 70% anticipate at least 50% of their customers will buy from them online in the same time period. A third believe the figure could be as high as 75%.
Dani Attard is the commercial director of Comgem. She says:
“The UK is one of the most tech-savvy nations in the world. What is predicted to happen in the U.S. could actually be outstripped by percentage statistics in the UK. Here, businesses are used to purchasing B2B products and services online. Yet the potential for growth is enormous."
“Where this study replicates predictions for the UK is in repeat business. The percentage of online sales from repeat customers increased across the board in 2018. This was largely down to improved user experiences, better personalised marketing and higher conversion rates.”
Comgem says greater adoption of advanced website tools have helped the B2B ecommerce sector increase order values and profits.
“We have seen businesses using data to fill gaps in B2B customer spending,”
said Dani.
“They are also using data to better target specific customer groups and drive spending based on order history and interests.
“This level of growth will continue because B2B ecommerce is getting better at curating content that engages its target market. For example, more B2B businesses are driving traffic to their websites via social media platforms and, at the same time, increasing the visibility of not just their brands but products too. This success is being driven by advancements in ecommerce technology. And those who fail to invest in key drivers, such as real-time data and systems integration, will fall behind their competitors.”
If you recognise the benefits of selling B2B products and services online, i.e. increase sales and better efficiency, learn more about Gemsuite. It is the cloud-based ecommerce platform specifically developed for the UK’s B2B sector.
Book a free demonstration here.
* Measuring Up: Benchmarking Your B2B eCommerce Performance
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