Shoppers are abandoning traditional retailers for the convenience of online shopping.
Amazon and Ebay were big winners over brick-and-mortar retailers this Thanksgiving weekend, with about one million more consumers chose to shop online than in-store. To top things off, this year’s Cyber Monday was the largest online sales day in history. Ecommerce is quickly becoming our go-to shopping method as shoppers abandon traditional outlets in favor of more savvy online marketplaces.
B2B buyers are also retail consumers. Why treat them differently?
We’ve known for a while now that about half of B2B buyers make business purchases on the same websites and mobile apps that they use for personal shopping. We also know that these consumers are bringing the same habits and expectations from B2C retailers with them. Forrester Research forecasts B2B ecommerce in the US to grow from $780 billion this year to $1.13 trillion in 2020, making up 12.1% of the nearly $10 trillion US B2B marketplace.
The future of B2B commerce starts with mobile.
Shopping data released by Adobe indicates that mobile accounted for 53% of traffic and 34% of sales on Black Friday. While we’re seeing a huge growth in mobile sales, many consumers will begin their shopping journey by researching a product on a mobile device and finalize their purchases on a desktop. This type of behavior has become the norm. Consumers expect to have the ability to research or purchase a product on any device, at any time.
Business purchases aren’t far behind in terms of mobile browsing. According to Google, 42% of B2B researchers use a mobile device during the purchasing process. This sharp upward trend will continue, leading to a dramatic increase in mobile purchases as well.
B2B buyers are getting younger and more tech-reliant.
Expect to see consumer shopping trends continue to make their way into business purchases. Even more B2B decision-makers will do their browsing and research on mobile devices, with more and more purchases made on mobile as well. In a world of omnichannel commerce, buyers expect the same convenience from business vendors that they do from consumer retailers such as Amazon.