Article written by TradeGecko
B2B eCommerce is a complex and constantly expanding ecosystem of online trade. With gross volume merchandise sales increasing each year, B2B transactions are projected to be worth approximately $7.66T in 2017 alone. This figure massively overshadows the Business-to-Consumer (B2C) market, which sits at about $2.14T in comparison.
With figures like these, it only makes sense to capitalize on the market and integrate the best technology to ignite your B2B growth. Below are four major trends in B2B eCommerce you’ll want to keep your eye on.
1. Transactions on the Go
Mobile devices have a significant impact on how businesses drive traffic, complete transactions, and manage their back end. Customers are increasingly using their devices for product and company research, and mobile responsiveness goes a long way to ensure optimized experiences. Customers using their desktop computers spend over $143 US per order, with mobile users averaging $114 US per purchase.
With customers and clients shifting to more frequent mobile usage, business owners must find ways to be “always on” themselves, as mobile orders are more likely to come through outside of traditional operating hours. A system like TradeGecko Mobile lets you carry your business in your pocket. Your product catalog comes with you, so you can manage orders and interact with customers no matter where you are. Out of service range? The app syncs up when you’re back online.
2. Unique Personalization
We’re not talking about adding personal monograms to products; personalization is now a factor in most online-buying journeys, both B2C and B2B. Personalizing your customers’ experience will help you stand out by giving them exactly what they want to see in terms of style, function, and features.
Amazon sets a great example of how to use personalization to drive sales. For example, the company’s sophisticated product suggestion module led to increase sales by 10-30%. Taking a page from Amazon’s book and suggesting related products links on your site that drive traffic to your B2B store could bring you similar success in the sales department.
In order to offer such features, you first need to ensure your online eCommerce site is up and running well. TradeGecko’s B2B eCommerce platform is perfect for both wholesalers looking to amplify their online store with key features like an intuitive interface consistent with their brand. Setting up your eCommerce store is simple and straightforward, and custom pricing allows you to scale the platform to your needs.
3. Multiple Channels, Multiple Sales
Wholesale eCommerce is a different game than B2C sales. However, more and more B2B businesses are expanding into multichannel sales in order to expand their customer base and remain competitive.
This is easier said than done, as B2C sales requires a different approach than B2B ecommerce. Look for a platform that accepts multiple currencies and syncs your inventory across channels instantly. Multichannel Sales operate across B2B, B2C, and marketplace platforms, allowing you to seamlessly manage your workflow with unparalleled visibility.
4. Effortless Digital Payments
Online payments have always been the payment method of choice for eCommerce, and with the advent of services like PayPal and Apple Pay, there are more ways for customers to pay online than ever before. Businesses need to be able to process and track payments in real time to keep up with the myriad ways customers can send funds.
This is where TradeGecko comes in. TradeGecko Payments integrates your payment processes with your order management, enabling you to send finalized invoices to your customers. You’ll retain customers and more easily convert new ones with a straightforward payment experience and an easy Pay Now button.
Rapid advances in mobile sales, customer desire for personalization, integrated sales channels, and ease of digital payments are all driving trends behind B2B eCommerce growth. Order management and B2B eCommerce platforms, like TradeGecko, can help you keep up with these and other emerging trends. Making sales easier for your customers doesn’t have to be hard.
Start your free 14-day trial with TradeGecko and capitalize on your business growth.