7 things to know about B2B commerce

Advancements in technology have led to the emergence of various trends in the business world. The target markets are shifting gradually from the consumers to other businesses while the relationships between two different companies become the leading source of income. Business-to-business (B2B) commerce is an online business model that involves the exchange of products between businesses rather than between a business and a customer. B2B commerce remains a hot topic in the business world in 2017 with the growth expectations rising every year.

Below are some of the trends that retailers should know about in 2017:

Increased Presence of B2B Commerce in most states.

Most states have become popular with the B2B e-commerce following the presence of large online selling companies in the areas. Some of the states that have embraced B2B commerce include Illinois, Minnesota, Michigan, Texas, New York, and California among others.

Multiple Products Categories Coverage.

Some of the products that generate high online retail traffic in B2B e-commerce include home improvements, office supplies, electronics, and apparel. B2Bmarket is expected to grow rapidly in future with the absorption of the traditional B2C into the B2B commerce industry.

More Companies now Engage in B2B Commerce.

More online retailers and distributors now engage in B2B E-commerce unlike in the past when it was only for the manufacturers. The wholesalers are joining the bandwagon too.

The B2B Commerce Adoption Rate is Slow on the Leading Online Platforms.

There is an increased reliance on affordable commerce platforms rather than the major and sophisticated sites such as Oracle Commerce, Hybris, and WebSphere. About two-thirds of the B2B E-commerce companies also depend on the internal solutions to run their digital solutions.

Failure to Utilize the Elite Analytics Packages.

Statistics from Internet Retailers show that over 50% of the leading B2B e-commerce sites tend to rely on Premium analytics to run their digital business rather than Elite analytic packages such as Adobe Site Catalyst and IBM Digital Analytics.

Many B2B Commerce Sites now Use Internal Hosting.

Previously, various IT departments used to run most of their B2B commerce solutions. However, companies now rely on major hosting providers such as Rackspace for their internal hosting solutions. Rackspace boasts of over 25 major clients with a possibility of future expansions.

B2B Sites are yet to embrace the Digital Online Payments.

Most B2B e-commerce sites rely on the debit cards, electronic invoicing, and credit card payment to conduct their transactions. However, the adoption rate for the digital online and modern payments such as PayPal is still slow in all sites.