B2B suppliers are investing in ecommerce for improved buying experience - report

Monday 17 November 2014 10:20 CET | News

B2B suppliers are expanding their ecommerce platforms and overall omnichannel capabilities, as the volume of B2B online purchases continues to increase, new research from global management consulting company Accenture and hybris software, an SAP company, indicates.

The study also found that 52% of business buyers expect at least half of their purchases to be made online in three years’ time. Furthermore, consumer shopping habits are influencing how B2B purchasers expect to buy from suppliers. Already, 49% prefer making work-related purchases on the same websites they use for personal purchases. Consequently, the study also found that 83% of B2B suppliers surveyed are either in the process of implementing or upgrading their ecommerce suite or planning to do so within six months.

When asked about the top features or functions they would most like from suppliers in the selling process, most business buyers mentioned enhanced search functionality on their website (60%), followed by showing ratings and reviews of products and services (58%) and improved personalised product or service recommendations on their website (50%). Additionally, nearly seven out of 10 business buyers prefer to use direct, instant online payment methods, including credit cards or payment systems, rather than purchase orders and invoices.

Two-thirds of B2B suppliers have stated that shifting customer expectations are driving their technology investments in omnichannel initiatives, such as implementing or upgrading ecommerce platforms and mobile services. Nearly 83% agree that an omnichannel strategy is critical to a company’s long-term success by driving more sales and profit.

The study “Building the B2B Omni-Channel Commerce Platform of the Future” involved 930 buyers of B2B products online and 526 executives selling to businesses across the US, Canada, France, Germany and the UK from July to September 2014. Survey respondents were from companies with at least 1,000 employees.

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Keywords: B2B suppliers, ecommerce, omnichannel capabilities, online purchases, Accenture, hybris software, selling process
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce

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