The recent advancements in technology have made many things possible, especially for businesses. Many retailers and companies of all kinds have taken advantage of eCommerce and made their products and services available to their customers online, giving them the opportunity to buy them from the comfort of their homes.
While this has significantly improved their sales, businesses also started looking for other ways to generate more profit and increase brand awareness.
One particular model that proved to be quite effective is B2B (business-to-business) which refers to the exchange of products and services between businesses. In fact, according to statistics, it is estimated that the global business-to-business eCommerce market will increase at a CAGR of 18.7% from 2021 to 2028.
Because of this, B2B brands are increasingly looking for additional digital means to boost sales and reach a wider audience.
Here is a list of five emerging B2B eCommerce trends that will be big in 2022.
Growth of B2B marketplaces
One of the biggest B2B eCommerce trends this year will be the growth of online marketplaces. This refers to websites that will connect buyers and sellers much more easily while facilitating shopping from different sources. In fact, this comes especially in handy for businesses that are looking for a wholesale marketplace where they can buy merchandise in bulk, such as electronics for their company.
There are several advantages that come with using these online marketplaces. For example, one benefit is that they can make it easier for businesses to acquire new clients and expand their customer base. This is especially helpful for small or starting businesses to reach a wider variety of customers who may not have heard of the product otherwise.
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Embracing B2B mobile commerce
It is well known that billions of people own some kind of electronic device. They are highly dependent on them as they use them to fulfill daily activities such as shopping or researching something on the Internet. As a result of this, mobile B2B eCommerce trends will most likely grow more prevalent in the near future.
However, launching a mobile app isn’t enough to resonate with the needs and expectations of B2B buyers. In fact, B2B organizations need to invest heavily in mobile research and marketing to provide the best experience for their existing and prospective customers. Otherwise, you may be risking the loss of customers and buyers due to a negative mobile experience.
Opportunities for B2B social commerce
There is no going around it – millennials spend plenty of time on social media. While some use it to stay up-to-date with news and current events, others rely on it to research products to buy. As a result, there is a great possibility that B2B social commerce will blow up in 2022.
The thing is through various social media platforms companies can promote and sell products and services, allowing customers to make a purchase without ever leaving the platform. Essentially, this allows B2B organizations to set up an eCommerce store directly on Facebook, Instagram or Pinterest and make things easier for buyers to find the product they are looking for without having to navigate to another website.
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The rise in personalized content and pricing
Another B2B eCommerce trend that is going to be big this year is the rise in personalized content and pricing. According to statistics, about 50% of B2B buyers indicated that personalization is something they consider a lot when searching for suppliers to partner with. These are actually customers who are willing to pay more to brands that offer personalized content and overall experiences.
Also, besides this, there should also be personalized pricing as each customer has their own preferences when it comes to the payment options they want to use. Some popular options you can provide include credit cards, checks, purchase orders and mobile wallets. Offering your customers convenience will certainly benefit your business and your buyers.
In order to remain competitive in the market and drive online sales, you should consider adopting the B2B model. By having an effective B2B eCommerce digital experience platform you are giving your business the opportunity to grow and meet market demand and customer needs.
However, if you are looking for additional ways to boost your profitability and increase brand awareness, you should consider implementing various eCommerce strategies and help your business scale up easily.
For more information, refer back to our post and learn about which B2B eCommerce trends can help your industry reach new heights.