2023 B2B eCommerce trends

B2B eCommerce continues to grow and grow as a sector. This is as more B2B businesses look to offer a buying process which resonates with the modern consumer as expectations continue to evolve.

Here are some key trends within B2B eCommerce:

• In 2023, an estimated 17 percent of B2B sales are expected to be generated digitally. In 2019, this share was 13 percent. Overall, U.S. B2B online sales are projected to reach 1.8 trillion U.S. dollars in 2023. (Statista, 2023)

This is solid evidence of a growth in B2B ecommerce usage and reliability as it becomes more and more important for a wholesaler to move to digital sales as it will ensure the business thrives and makes the most of upcoming opportunities.  Companies like SwiftCloud are offering a simple solution to this problem. Allowing businesses to have their own B2B app and web portal allowing for more sales and an exponential business growth.

• According to MarketingChart's latest report, 40% of respondents say that B2B buying cycles last only two to three weeks. (MarketingChart, 2020).

Once again backing the undeniable evidence that B2B ecommerce is the future of sales as it increases basket size due to ease of access. This also results in an increased total spend per ordered which in some cases with SwiftCloud has had a 15% increase in basket spend.

• Business-to-business (B2B) buying cycles have grown increasingly complex over the years, with 77% of buyers agreeing their last purchase was over complicated. (Gartner, 2020).

Due to recent world complications a lot of transactions have become complicated and Slow. However, with the recent rise in digital B2B ordering it couldn’t be easier. With SwiftCloud’s mobile app feature orders can take place wherever and whenever. Meaning customers will buy more frequently due to ease and practicality.

More reasons for a Digital B2B ecommerce platform:

• It's expected that by 2025, 80% of interactions between buyers and sellers will happen online (Gartner, 2020)

• McKinsey & Company reports that about 65% of B2B companies across industries are fully transacting online in 2022. (McKinsey & Company, 2022)

• E-commerce has now surpassed in-person as the single most effective channel for B2B Buyers. (McKinsey and Company, 2023)