B2B eCommerce is more than twice as large as B2C, and it’s growing even faster. In the past, most B2B companies were reluctant to drive digital innovation. There were plenty of reasons to this slow pace of change, including inertia to disrupt deeply embedded business systems and processes. Many businesses have simply been unaware of the available tools and technologies they can leverage to meet their business needs.
Recent B2B eCommerce consumerization is driven by a range of customer, cost, and market factors. Business customers are demanding increasing levels of service and convenience. Cost pressures are forcing businesses to find ways to streamline operations and reduce expenses. Markets are becoming hyper-competitive, requiring businesses to squeeze competitive advantage from every possible angle. Despite these challenges, there are numerous multichannel B2B eCommerce opportunities that businesses can take advantage of to increase revenue, decrease costs, create competitive advantage, and create long-term business value.
B2B eCommerce: The New Rules of Engagement