The rise of the digital B2B buyer has created new opportunities - and pressure to act now
"Business buyers are rushing to online channels. And while it’s not surprising that B2B eCommerce experienced a dramatic acceleration in 2020, driven by shifting behavioral patterns of homebound B2B customers, this trend is not new – and it is certainly not expected to wane.
At a global level, B2B eCommerce is expected to continue expanding at a rapid compound annual growth rate (CAGR) of 18.7% from 2021 to 2028¹, bringing with it higher buyer expectations and margin pressure as supply chains struggle to keep up. Competitive pressures are on the rise as well. For example, Amazon’s influence continues to be felt across industries, causing a shift in customer buying patterns and behaviors. While Amazon is not alone in this space (Alibaba, IndiaMart, and half a dozen others are all B2B influencers), it is a clear leader and influencer globally.
In addition to altering buyer expectations, Amazon Business has established a clear, replicable playbook for the newest crop of digital-native disruptors, resulting in a growing number of specialized vertical- and category-specific B2B marketplaces. Other examples include Gearflow in construction, PartsTraders.com in auto parts, and Mercateo in wholesale industrial supply that convert customers with game-changing digital marketplace solutions.
This ebook focuses on business-to-business (B2B) customer engagement: businesses buying products or services from other businesses. However, the blueprint elements discussed here can also be applied to Business-to-Consumer (B2C) industries, although they will not be covered here."
