B2B Ecommerce Circa 2014- Demystifying the Hottest Trends PART 1
In one of my earlier Blog posts (E-Commerce in B2B Arena: The wheels are moving albeit slow) we talked about the latest Ecommerce trends and B2B ecommerce. A lot has happened since then, let us have a look at some of the developments!
Here are a few interesting facts involving B2B eCommerce which are getting the Manufacturers all excited and charged up:
1) Sheer size of B2B eCommerce: B2B eCommerce market in the US alone is roughly double the size of the US B2C eCommerce market.
2) Rising Mobility: Mobile traffic is gaining traction and will be almost one- fourth of the overall business Internet traffic in a few years.
3) Profitable Online customers: It is becoming more and more profitable to migrate offline customers online fuelling a better and fatter net spend.
4) Reducing support Costs: It is much more cost effective to support the consumers who have moved online providing better savings on support activities.
5) Greater penetration: B2B companies can also service small accounts online effectively which could have been a cost burden in the offline scenario, thus profitably adding new customers.
All these facts are encouraging more and more Manufacturers to take up B2B eCommerce initiatives.
There are also certain expectations that Businesses have from the eCommerce tools as more & more Businesses are demanding B2C like state of the art features for their B2B sites as well. MFG Clients want to engage their users with 'Amazon like' experience and this trend has been noticed where users are demanding to have all the latest features which were only seen in B2C sites earlier.
The users are demanding a better experience and it is heartening to see that Businesses and eCommerce tools are responding with all these features for the B2B space as well. Let us have a look at some of these trends in detail here:
These are some of the latest trends we are seeing in the B2B eCommerce domain and we will discover more hot trends and features spanning the eCommerce space in the next part of this post, Meanwhile fill us on what do you think where B2B eCommerce is going in 2014?