B2B E-commerce Whitepaper
Wholesale and B2B ecommerce is where it's at. In this whitepaper we explain why and how businesses can grow by focusing on selling their products to businesses online.
The advent of the digitally empowered consumer and the accompanying changes to the retail landscape mean that retailers have had to be agile and willing to adapt their processes to satisfy consumer expectations and compete in the fast-paced ecommerce environment. But it’s not just business-to-consumer (B2C) ecommerce that has had to shift its approach in the past few years.
The rise of the B2C ecommerce machine has also brought with it some massive shifts in the way wholesalers need to operate. The expectations of business-to-business (B2B) consumers have evolved in step with their B2C counterparts, challenging wholesalers to migrate their business to online platforms in response.
The modern B2B buyer now expects the same user experience that they are accustomed to as B2C consumers. This means high-quality product images, robust search functionality, social proof in the form of reviews and recommendations, personalisation based on previous history, and mobile-optimised sites.
The case for change is backed up by the incredible statistics coming out of the wholesale ecommerce space. B2B ecommerce’s market share currently sits at $7.7 trillion (triple that of its B2C cousin which accounts for a comparably meagre $2.4 trillion worldwide) and is projected to hit $12 trillion by 2020.
That’s a huge growth stretch that wholesale businesses need to prepare for (and capitalise on) by transitioning to an ecommerce model.