Ecommerce brings a number of advantages to simple, boring businesses and allows them to make a mark even with meager resources. Can you believe the projection that by the year 2040, 95% of purchases, no matter what kind of, will be made online? Moreover, B2B Ecommerce statistics show that in just about 4 years, that is from 2017 to the beginning of 2021, the online purchases of different services and products doubled. They went from $2.3 trillion to a staggering $4.5 trillion, and that’s not it because it is expected to rise 15% every year.
Therefore, striking at the right time and the right place will give you better chances of seeing a boom in your business life as well. The article is going to address this very problem and will help you to tackle it efficiently.
The article will talk about 9 predicted B2B eCommerce statistics for 2021.
Let’s get started!
1. People’s online research habits
This is the first and key reason why someone uses an eCommerce website to search for required services or products. A staggering 81 percent of customers have a habit of researching products online before finalizing anything.
Ecommerce platforms provide this clear edge over conventional physical stores. Even the visitors of conventional physical stores most of the time consult online platforms while standing in the store to decide the matters. Therefore, your products and services on the eCommerce platform should be properly managed with high-quality images, good descriptions, and catchy titles.
Customer relation is another key factor to keep an eye on while initiating any business. E-commerce platforms provide easy opportunities to build better customer relations through multiple interaction opportunities. Customers tend to believe and trust not businesses but a group of people running that business and hence the brand name and logo become a symbol of trust.
As per the surveys, people tend to trust businesses that are open to criticism and negative reviews and deal with such situations in a positive manner. Therefore, establishing a positive and smooth customer relation is going to develop trust in the customers, which will in-turn have multiple benefits for you.
2. CX— The customer experience
Can you believe, 80% of the customers will not do business with a company just because of a poor customer experience? Customer experience includes everything ranging from the first thing that a customer sees when he opens your website till the last correspondence even after the purchase process has ended.
Investing in a better business hosting platform, and the visual outlook of your online store would be the first thing to consider in this domain. Moreover, the ease of placing orders, checking back on things, user-friendly layout, and options, are all things that can enhance the user experience.
3. Digital buyers worldwide
As per the estimates, the world will have 2.05 billion online buyers in 2021. That is more than 25% of the whole world’s population which is currently around 7.7 billion.
Moreover, things are not going to stop there yet! The number is expected to touch 2.14 billion by the end of 2021. Now, this sounds like a market you don’t want to miss.
Therefore, it is the right time to start an online business and learn eCommerce strategies. The online shopping trend is an ever-increasing trend and you should not miss this opportunity.
4. Low conversion rate
Even though the number of online buyers has increased more than ever in the last 4 years, do you know who much potential is still there? You can understand it by a statistic related to the conversion of the eCommerce visit into a successful purchase.
You would be surprised to know that only 2.86 percent of visits on the eCommerce platforms are actually converted into a successful purchase. This means 97.14% percent of visits are there for you to work on.
In simple words increasing this conversion from 2% to even 4% will literally double your sales and that is a huge improvement. You should be on a constant lookout for the factors that are hindering a rise in your conversion rate and should address them on a priority basis.
5. Share in total retail sales worldwide
As a matter of fact, there is a mix of stores that are retailing services or products completely online and those which are not relying even a bit on online platforms, things are changing fast.
E-commerce has already taken a big portion of retail sales. In 2020, most of the retail sales made worldwide were via eCommerce platforms.
6. Large B2B eCommerce marketplaces
The B2B eCommerce statistics show that entrepreneurs can make use of their wide reach to establish their own brands before launching a standalone platform.
Customers tend to trust and know these large marketplaces, so you don’t have to work on that for starters. As per the B2B eCommerce statistics, nearly half of the customers head towards large marketplaces right away.
Therefore, you can utilize the brand appeal these large marketplaces have and work on other aspects without worrying about customer trust and reach. Some of the famous such places are Facebook, Alibaba, Amazon, and many more.
7. Easy price comparisons
This is one of the major things to look out for because a significant amount of visitors will resort to price comparisons before finally making a payment. A whopping 65% of shoppers visit multiple platforms before making up their minds.
Now eCommerce has just made things simpler for both the retailers and the customers. Retailers don’t have to maintain large inventories or supporting staff, hence allowing them to cut down the price. On the other hand, the customers can easily compare two services or products by just using their smartphone or PC.
8. Abandoned shopping carts
Related to low conversion rate is another statistic and that is of abandoned shopping carts. You can work on optimizing your checkout process to reduce the cart abandonment percentage. Most probably if someone has added things to their cart then it means they like the product, its price, and other things associated with it. But why didn’t they make the purchase?
May the checkout process has issues, they might not have payment processing tools or you failed to instill trust in their hearts allowing them to back away.
However, you can still follow-up with the customers via emails or any other way of notifications, reminding them of their cart, with the hope that they will return one day.
9. B2B eCommerce statistics for smartphones
It is expected that by the end of 2021, 72.9% of eCommerce or digital sales will be made on smartphones. So, are you ready or have you made necessary arrangements for your presence on mobile platforms?
Android, iOS, ChromeOS, Huawei OS are the most famous smartphone platforms used by almost 98% of smartphone users in the world. Therefore, to reach them you need to make sure that your eCommerce business is present on these platforms as well.
You just have to intelligently modify your website store to fit the small smartphone screen. Moreover, an app is also a must-have item for smartphones.
B2B eCommerce statistics summary
All in all, eCommerce is the future of the business and has so many ideas and opportunities for everyone. However, you should carefully plan your entry into this area and thoroughly review the statistics that we have presented in this article to better plan things. There are a number of factors to consider and multiple options of the niches that can be targeted via eCommerce business.
Moreover, you have to broaden your vision and see beyond the current trends. Using the given statistics you can look into the future and come up with strategies that will be useful not even today but 3 to 5 years from now as well.