Despite facing numerous challenges over the last few years with supply chain disruptions and high inflation, B2B eCommerce remains strong and is more than one and a half times the size of the B2C Market.
Discover the latest insights, trends, and must-know facts about the B2B eCommerce market as expectations build for a seamless online experience.
B2B Market Segmentation and Performance
- In the UK, the estimated value of eCommerce B2B Sales is expected to be £188 billion in 2024
- 40% of companies in the UK obtain all or most of their income from B2B activity.
- This market is expected to grow steadily, with an estimated growth of 8.4% between 2024 and 2029.
- By 2025 Gartner expects eight out of 10 B2B sales interactions will take place using digital channels.
Challenges for B2B eCommerce Business
- The B2B sector has been slower to embrace digital transformation as compared to B2C. B2B businesses now are ramping up their technology integration in areas such as customer experience and data & analytics.
- 2 in 3 B2B buyers prefer to place orders online, and 79% of them prefer to repeat replace orders online.
- More buyers (58%) like to place complex orders online rather than offline.
Pain Points of B2B eCommerce Users
- In 2024, a B2B supplier’s differentiator can no longer be simply having an eCommerce store – the user experience needs to be top-notch to keep up with competitors.
- 91% of B2B buyers have at least one pain point preventing them from completing an online order.
- 71% of B2B buyers would be willing to switch to a supplier who offers a superior online experience, with 60% doing so immediately after encountering bad online buying experiences.
- 41% of buyers’ primary concern when shopping online is being able to access order status, history and invoices; as well as listing stock, pricing and delivery dates as a must-have.
Payment Preferences for B2B Consumers
- 91% of buyers would switch eCommerce suppliers if their payment requirements weren’t met.
- 36% stated that digital invoicing was an important feature in B2B buying.
- 53% of buyers would change to a different supplier if online net terms approvals were slow or cumbersome.
Delivery Choice
- 91% of B2B buyers look for the available delivery options before they start the buying process.
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