More business-to-business (B2B) sellers are shifting their focus online, investing in ecommerce lines. Sellers are directing inventory to online selling channels, in a bid to cater for increasing demand for online transactions.
This burgeoning B2B trend was unveiled in the Digital Commerce 360 Research & Data report. Digital Commerce 360 is a leading media and research organization delivering data and objective news across to B2B ecommerce audiences. The report was the first of a series of annual surveys of 110 B2B sellers to be conducted over the course of 2021 by Digital Commerce 360.
Most B2B Sellers are Shifting Focus to Ecommerce
The key takeaway from the research is that a majority (61%) of B2B sellers are shifting their focus to investing in ecommerce. 86% of the B2B sellers interviewed are forecasting an upward trend in ecommerce revenue in 2021.
The findings of the report are important to businesses involved in making commercial transactions with other businesses. Since the pandemic reared its head in early 2020, businesses have been forced to conduct business online. This trend looks set to continue even as markets start to open up.
As the report shows, a growing number of B2B sellers are adapting to ecommerce platforms to meet new demands and thereby remain competitive. With this new way of B2B selling looking set to continue, it’s vital B2B sellers equip themselves with the right tools and skillsets to sell successfully online.
As Digital Commerce 360 writes in a press release about its survey:
“Sellers face a myriad of challenges from budget to building more sophisticated sites with requisite systems and support. The top challenge is securing enough budget to make necessary investments that are truly needed. Rounding out the top five are creating a more sophisticated website to better meet customer needs, integrating systems, finding staff with the right skillsets, and convincing more B2B customers to buy online.”
B2B Sellers Delivered Strong Results in 2020
The survey also found that B2B sellers delivered strong results in 2020. 78% of participants reported increases in 2020, with 48% being up in revenue by at least 25%. B2B sellers are projecting that revenues will accelerate in 2021, with 86% expecting an upward trend.
To help achieve the optimistic outlook many B2B sellers maintain, it’s important that modern demands for ecommerce are met within the business-to-business community. B2B sellers would be wise to invest in the tools and talent to help them sell online, such as creating engaging websites and delivering comprehensive social media marketing campaigns.
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Nice Post…Great work….Keep it up
Many B2B sellers relied on face-to-face efforts like trade shows, conferences, etc. to move product and that has all been shut down or severely limited. Smart move to jump into ecommerce with both feet.
Many B2B sellers relied on face-to-face efforts like trade shows, conferences, etc. to maneuver product which has all been pack up or severely limited. Smart move to leap into ecommerce with both feet.