The State and Future of B2B E-Commerce

Saas Mobile

B2B E-Commerce

It’s official. B2B (business-to-business) companies have shifted their focus on web e-commerce to mobile e-commerce—a trend influenced by the rise of Cloud computing and SaaS connected smartphones/tablets and portable devices that have replaced the traditional PCs.

It’s estimated that the B2B e-commerce in the U.S. will balloon from $780 billion in 2015 to $1.13 trillion in 2020, according to Forrester Research. By then, the B2B e-commerce market will make up 12.1 percent of the $9.39 trillion B2B industry. Online retailers like Amazon and Alibaba are currently leading the B2B e-commerce market. These companies are lucky to be the pioneers of the booming trade.

But the tables will turn in 2019, said Forrester Research analysts Peter Sheldon and Andy Hoar, as traditional B2B companies increase their spending on upgrading their e-commerce systems. By 2019, manufacturers and wholesalers will make up a combined 30 percent of spending on e-commerce technology–up from 20 percent in 2013.

B2B-Mobile-Infographic_001-compressor

(Infographic Source: Usablenet.com)

Meanwhile, online retailers are expected to make up 28 percent of the 2019 spending, which is down from 41 percent in 2013. This isn’t surprising. Online retailers have already setup their own platforms, while traditional B2B companies have yet to invest money on building e-commerce websites. However, B2B companies, with lots of money in the bank, can spend more on better systems.

Companies have all the reason to go mobile. A mobile-optimized e-commerce platform generates more revenue than e-commerce sites that aren’t mobile-friendly. It isn’t enough to sell online, you need to optimize your business for mobile devices, according to a survey by Demand Gen Report.

Out of the 105 buyers surveyed, 85 percent said they require content on B2B sites to be mobile-optimized– that’s up from 69 percent in 2014. B2B buyers are getting wiser, too. Around 94 percent of B2B customers report conducting some research online before making a purchase. Additionally, 44 percent of the 94 percent used a mobile device to research an item, according to a study conducted by Acquity Group.

By Gene Briones

Brian Rue

What’s Holding DevOps Back

What’s Holding DevOps Back And How Developers and Businesses Can Vault Forward to Improve and Succeed Developers spend a lot of valuable time – sometimes after being woken up in the middle of the night ...
Dinesh Varadharajan

How to Prepare Your Company for the Future with Automation

The Future with Automation Many entrepreneurs believe digital technologies will transform the way their companies work. By 2022, the worldwide hyper-automation technology market is expected to be worth $596.6 billion. And by 2055, almost half ...
Alex Tkatch

Dare to Innovate: 3 Best Practices for Designing and Executing a New Product Launch

Best Practices for Designing and Executing a Product Launch Nothing in entrepreneurial life is more exciting, frustrating, time-consuming and uncertain than launching a new product. Creating something new and different can be exhilarating, assuming everything ...
James Corbishly

Addressing Teams Sprawl in the Remote Workspace

Teams Sprawl in the Remote Workspace As working from home has become the new everyday norm, with more employers embracing the remote-work model as a new and likely permanent fixture of the employment world, there ...
Jonathan Custance

Is data security still an afterthought for many businesses?

IoT and cloud computing are on the increase High-profile cybersecurity breaches are increasingly in the news, a prime example being the NHS incident of May 2017 when services were brought to a standstill for several ...