GITNUX MARKETDATA REPORT 2024

Must-Know B2B Ecommerce Statistics [Latest Report]

Highlights: The Most Important B2B Ecommerce Statistics

  • B2B ecommerce sales are expected to grow at a CAGR (Compound Annual Growth Rate) of 10% between 2020 and 2025.
  • The global B2B e-commerce market size was valued at $6.64 trillion in 2020.
  • 42% of B2B distributors now generate at least half of their revenue from ecommerce.
  • B2B buyers say customer reviews are the most influential content impacting purchasing decisions.
  • 74% of B2B buyers research at least half of their work purchases online.
  • In 2023, B2B e-commerce sales are projected to reach $1.8 trillion, accounting for 17% of all B2B sales in the United States.
  • 84% of B2B sellers employ a specialist CRM (Customer Relationship Management) system for client interactions.
  • 89% of B2B marketing decision-makers consider website personalization to be a key priority.
  • Over half of B2B buyers say many vendor websites are missing easy-to-find “about us” information and team biographies.
  • Approximately 70% of B2B buyers prefer purchasing from a website over sourcing products via sales representatives.
  • In 2021, the B2B e-commerce sectors with the highest penetration rates are second-tier marketplaces (25.5%) and subscription box services (13.8%).
  • 88% of B2B buyers prefer a self-service customer portal that offers an Amazon-like experience.
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The B2B ecommerce industry is rapidly growing and evolving, with new technologies and trends emerging every day. This blog post will explore the latest statistics on this dynamic sector of digital commerce, from global market size to customer preferences.

We’ll look at data points such as expected growth rates for B2B sales over the next five years, current revenue generated by online channels, how buyers are researching their purchases online, and more. By understanding these key insights into the world of B2B ecommerce today, businesses can make informed decisions about their own strategies in order to stay competitive in an ever-changing landscape.

The Most Important Statistics
B2B ecommerce sales are expected to grow at a CAGR (Compound Annual Growth Rate) of 10% between 2020 and 2025. This statistic is a testament to the potential of B2B ecommerce, indicating that the market is expected to expand significantly over the next five years. With a projected CAGR of 10%, businesses can anticipate a steady increase in their ecommerce sales, providing them with a lucrative opportunity to capitalize on the growing demand. The global B2B e-commerce market size was valued at $6.64 trillion in 2020. This statistic is a testament to the sheer size and scope of the B2B e-commerce market. It is a clear indication of the immense potential of this sector and the opportunities it presents for businesses to expand their reach and increase their profits. It is also a reminder of the importance of staying up-to-date with the latest trends and developments in the B2B e-commerce space in order to remain competitive.

B2B Ecommerce Statistics Overview

42% of B2B distributors now generate at least half of their revenue from ecommerce.

This statistic is a testament to the growing importance of ecommerce in the B2B space. It shows that more and more distributors are recognizing the potential of ecommerce to increase their revenue and are taking advantage of it. This statistic is a clear indication that B2B ecommerce is becoming an increasingly important part of the business landscape and should be taken seriously by any business looking to stay competitive.

B2B buyers say customer reviews are the most influential content impacting purchasing decisions.

This statistic is a powerful reminder of the importance of customer reviews when it comes to B2B ecommerce. It highlights the fact that customer reviews are a major factor in influencing purchasing decisions, and should not be overlooked when it comes to marketing and selling products online. By leveraging customer reviews, businesses can gain valuable insights into what their customers are looking for and how they can better meet their needs.

74% of B2B buyers research at least half of their work purchases online.

This statistic is a powerful indicator of the growing importance of online research in the B2B purchasing process. It shows that the majority of buyers are turning to the internet to inform their decisions, making it essential for businesses to have an online presence and a comprehensive ecommerce strategy. This statistic is a reminder that B2B buyers are increasingly relying on the internet to make informed decisions, and businesses must be prepared to meet their needs.

In 2023, B2B e-commerce sales are projected to reach $1.8 trillion, accounting for 17% of all B2B sales in the United States.

This statistic is a powerful indicator of the potential of B2B e-commerce in the United States. It shows that, in just a few years, B2B e-commerce sales are projected to make up a significant portion of all B2B sales in the country. This is a clear sign that businesses should be taking advantage of the opportunities that B2B e-commerce presents.

84% of B2B sellers employ a specialist CRM (Customer Relationship Management) system for client interactions.

This statistic is a testament to the importance of CRM systems in the B2B ecommerce space. It shows that the majority of B2B sellers recognize the value of having a specialized system to manage customer relationships and interactions. This highlights the need for businesses to invest in the right technology to ensure they are able to effectively manage their customer relationships and maximize their ecommerce success.

89% of B2B marketing decision-makers consider website personalization to be a key priority.

This statistic is a powerful indicator of the importance of website personalization in the B2B marketing landscape. It shows that the majority of decision-makers recognize the value of tailoring their website to the needs of their customers, and are willing to prioritize it in their strategies. This is an important insight for any business looking to maximize their B2B ecommerce success.

Over half of B2B buyers say many vendor websites are missing easy-to-find “about us” information and team biographies.

This statistic is a telling indication of the importance of providing customers with easy access to information about a company. Without this information, customers may be less likely to trust the company and its products, leading to a decrease in sales. This is especially true in the B2B space, where customers are often looking for more detailed information about the company they are buying from. By highlighting this statistic in a blog post about B2B Ecommerce Statistics, it serves as a reminder to companies to ensure that their websites are providing customers with the information they need to make an informed decision.

Approximately 70% of B2B buyers prefer purchasing from a website over sourcing products via sales representatives.

This statistic is a powerful indicator of the changing landscape of B2B purchasing. It shows that the majority of buyers are now turning to digital channels to source their products, rather than relying on traditional sales representatives. This shift in preference has significant implications for businesses, as they must now focus on optimizing their online presence in order to remain competitive. As such, this statistic is an important one to consider when discussing the current state of B2B ecommerce.

In 2021, the B2B e-commerce sectors with the highest penetration rates are second-tier marketplaces (25.5%) and subscription box services (13.8%).

This statistic is a valuable insight into the current state of the B2B e-commerce sector, demonstrating that second-tier marketplaces and subscription box services are the two most popular options for businesses looking to engage in e-commerce. This information can be used to inform decisions about which services to use and how to best allocate resources to maximize success in the B2B e-commerce space.

88% of B2B buyers prefer a self-service customer portal that offers an Amazon-like experience.

This statistic is a powerful indicator of the importance of providing a self-service customer portal with an Amazon-like experience for B2B buyers. It shows that the majority of B2B buyers are looking for a streamlined, user-friendly experience when shopping online, and that they are willing to pay for it. This is an important insight for businesses looking to optimize their B2B ecommerce strategy, as it suggests that investing in a customer portal with an Amazon-like experience could be a worthwhile endeavor.

Conclusion

B2B ecommerce is witnessing significant growth, with sales expected to expand at a 10% CAGR from 2020-2025, and the market valued at $6.64 trillion in 2020. Importantly, 42% of B2B distributors now derive half their revenue from ecommerce, with 74% conducting online research and 34% fully implementing ecommerce-centered digital transformations.

Customer reviews influence purchasing decisions most; mobile commerce accounted for 60% of 2019 web traffic. Also, 89% use specialized CRM systems, 56% intend to improve tech solutions, 88% favor self-service portals mimicking Amazon, and 94% research online pre-purchase.

These statistics underscore the need for businesses to understand consumer behavior when strategizing B2B ecommerce. Furthermore, it emphasizes the necessity to provide seamless user experiences across all platforms for competitiveness.

References

0. – https://www.prnewswire.com

1. – https://www.coresight.com

2. – https://www.go.forrester.com

3. – https://www.statista.com

4. – https://www.emarketer.com

5. – https://www.grandviewresearch.com

6. – https://www.ironpaper.com

7. – https://www.bigcommerce.com

8. – https://www.gartner.com

9. – https://www.fifthring.com

ZipDo, cited June 2023: B2B Ecommerce Statistics

FAQs

What is B2B eCommerce?

B2B eCommerce, or business-to-business electronic commerce, is the online sale and marketing of products and services between businesses rather than to individual customers. It typically involves wholesale or manufacturing transactions between businesses, where one business offers goods or services to another business for resale or further production.

How does B2B eCommerce differ from B2C eCommerce?

B2B eCommerce targets transactions between businesses, while B2C eCommerce caters to transactions between businesses and individual consumers. B2B transactions are generally larger in volume and necessitate more sophisticated ordering, pricing, and negotiation options. B2B eCommerce platforms also require more advanced account management capabilities since each buying organization might have multiple buyers and decision-makers.

What are some significant benefits of B2B eCommerce?

B2B eCommerce offers several benefits, including increased efficiency, cost reduction, expanded customer reach, streamlined sales processes, enhanced customer experience, detailed performance analytics, and extended business hours.

What are some examples of B2B eCommerce platforms?

B2B eCommerce platforms include Shopify Plus, Magento Commerce, BigCommerce, Salesforce B2B Commerce Cloud, SAP Hybris, Adobe Commerce (formerly known as Magento), and Oracle Netsuite. These platforms provide businesses with tools and features specialized for B2B transactions and help manage ordering, invoicing, payments, and more.

How has COVID-19 impacted the B2B eCommerce industry?

The COVID-19 pandemic has accelerated the shift towards digital channels in B2B commerce, as traditional in-person sales and supply chain disruptions have impelled businesses to adapt and adopt online channels. The pandemic highlighted the importance of a robust online presence, leading to increased investment in B2B eCommerce platforms to enhance efficiency, remain competitive, and cater to the changing business landscape.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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