2020 will be a decisive year for B2B e-commerce
Last year, all forms of B2B digital commerce grew faster than total manufacturing and distributor sales. That is one of the key findings from the U.S. B2B e-commerce Market Report by Digital Commerce 360 Research. A long-term e-commerce strategy will help overcome the corona crisis and even come out of it as a B2B e-commerce winner.
In 2020 the coronavirus permanently altered the course of B2B e-commerce. In the first quarter of this year, many B2B companies saw a growth in their e-commerce sales. But as the pandemic settled in, most B2B sellers experienced a fall in their e-commerce sales.
Nearly 45% of B2B sellers expect their e-commerce sales in the upcoming fourth quarter of 2020 to be flat or decline. Still, 2020 will be a growth year for B2B e-commerce. Digital Commerce 360 estimates that B2B e-commerce sites, log-in portals and market places will grow by 10% in 2020.
Inevitably, there will be B2B e-commerce winners and losers: some will move beyond the COVID-19 crisis management into longer-range e-commerce planning and look for new growth opportunities online.