Enterprise eCommerce Software: Trends 2019-20

Enterprise eCommerce Software is going to be a crucial factor for distribution companies to gain a competitive edge and grow in the coming years. Importantly, according to Forrester Research, B2B eCommerce transactions will reach $1.2 trillion by 2021, accounting for more than 13% of all B2B sales in the US[1].

Although B2B sellers adopt eCommerce slower than B2C sellers, the trend is that distributors are adopting enterprise eCommerce software to grow business.

Here are the reasons:

Firstly, the Demo of today’s B2B Buyer

73% of Millennials are involved in B2B purchase decisions today[2]. The millennial buyer is tech-savvy and accustomed to making online purchases.  Therefore, Millennials prefer to self-service.

Moreover, according to Accenture, 50% of B2B buyers make half of their purchases online without ever contacting the supplier.

Secondly, B2B eCommerce Growth in 2019-20

B2B eCommerce has evolved into a multi-trillion dollar industry and steady growth will continue.  Moreover, industry research shows that B2B eCommerce sales will more than double global online retail sales by 2020. Therefore, B2B businesses are counting on enterprise eCommerce software to drive revenue growth.

Importantly, according to Frost and Sullivan, B2B e-commerce will hit $6.6 trillion by 2020, leaving B2C behind at $3.2 trillion[3].   In addition, the US alone will account for $1.9 trillion in B2B eCommerce sales.

Thirdly, Multi-channel Selling

B2B sellers are looking for enterprise eCommerce Software that handles all their sales channels – sales reps, inside sales, customer native mobile and on-line.  Importantly, this is tricky and not just any eCommerce platform will cut it.  Above all, full integration to ERP and back-office is essential.  

Fourthly, Mobile-first eCommerce

Importantly, according to research by Google and BCG[4]:

• 80% of B2B buyers use mobile at work.
• 60% of B2B buyers report mobile playing an important role in recent purchases.
• 60% of B2B buyers will increase their mobile usage.
• 50% of B2B queries are made on smartphones. In 2020, this figure will grow to 70 %.
• B2B sellers need mobile-first enterprise eCommerce software

Fifthly, Tech Giants are Influencing the B2B Industry

In other words, it’s important to stay informed about large industry developments. Importantly, some of the largest tech companies are paving the B2B eCommerce trends:

• In 2018, Adobe purchased Magento Commerce, a market-leading commerce platform, for $1.68 billion.
• Amazon is making an AI-based, real-time product recommendation engine available to merchants who use the Amazon Web Services (AWS) console.
• Walmart is making product syndication tools available to its suppliers in order to have the most up-to-date product content on its platforms.

Enterprise eCommerce Software Must do more than Fill Orders

Above all, distributors are looking for a B2B eCommerce platform that does more than just process orders.   Importantly, B2B ecommerce platforms must also: 

• Provide customers with personalized recommendations
• Offer customer-specific pricing
• Offer historical ordering
• Automate pricing promotions
• Support product promotions
• Automate order status and order tracking updates
• Allow customers to view and track all orders from all sources
• Support customer AR with invoice details
• Integrate with key business workflows
• Facilitate fast and easy ordering & re-ordering
• Support digital product images and expanded item details

In conclusion, the more value distributors can get from a enterprise eCommerce software, the better.

B2B Buyers expect a Great Customer Experience

In addition, B2C platforms like Amazon have changed your customers’ expectations.  Big Commerce says: “Sellers must meet expectations for a B2C-like digital experience, while also accommodating traditional B2B workflows and processes.”  

Therefore, B2B buyers are accustom to the convenient and personalized customer experiences in B2C. Similarly, they want the B2B buying process to be straightforward and tailored to their needs. Big Commerce confirmed: “They [consumers] expect a positive user experience, ease of purchase, and to be able to easily find the information they need online.” 

Embracing B2B eCommerce Trends

Above all, it’s essential for distributors to keep up with industry trends. Moreover, by investing in enterprise eCommerce software that supports integration, customization, cross-platform selling and personalized experiences for your buyers, you’ll set yourself up for success. In conclusion, learn about how OrderJump’s Mobile Commerce Platform for wholesale distributors will assure you are a distributor of the future here.