The pandemic has accelerated many existing trends, including the shift to online purchases. According to McKinsey & Company, the pandemic has sped up digital transformation by five years. Research from Sana Commerce shows that 58 percent of B2B buyers have used e-commerce more frequently for their purchases since the pandemic began. Arno Ham, Chief Product Officer at Sana Commerce, sees 9 ways B2B e-commerce is changing in 2022. These trends are a mix of technology, customer, and business developments.
1. The rise of the business consumer
The overarching trend affecting all B2B companies is that B2B buyers are increasingly resembling B2C consumers. B2B buyers are looking for simpler and better purchasing experiences when making professional purchases. The expectations they have as B2C buyers from online platforms, such as Bol.com or Amazon, they now also have from B2B platforms. B2B technology needs to modernize and provide the same experience as B2C e-commerce platforms.
2. Analytics for the B2B customer journey
A large part of the B2C influence comes from analytics about the customer experience. 37 percent of all B2B companies already use advanced analytics and measurement tools, and that percentage will continue to increase in 2022. Analyzing customer behavior across multiple interactions and then measuring the impact of this behavior on business results is becoming increasingly important to optimize the entire B2B customer experience. Customer Data Platforms (CDPs) are used to combine and integrate all customer data into one platform.
3. Increase in B2B customer personalization
Personalization is a crucial tool for retaining and improving customer relationships. By making Amazon-like recommendations, B2B sellers can introduce their customers to additional products. Offering product bundles makes upselling easier. The ability to quickly and easily make repeat purchases is essential for many buyers. It changes customers' perceptions of their shopping experience and will ultimately change the way they buy.
Moreover, B2B sellers are also offering an increasingly wider range of payment options to improve internal processes and the customer experience.
4. Real-time pricing
Real-time pricing means that sellers can adjust their prices at all times, for example, to enable competitive price matching or returns for customers, across all channels. It gives B2B companies the ability to show personalized prices to customers. But to do that, companies need insight into customer behavior throughout the entire buying journey. The increase in mobile payments, combined with apps for retailers, supports the prediction that real-time pricing will become mainstream in 2022.
5. Faster and simpler order fulfillment
The race to shorten the click-to-consumer cycle may be the biggest influence on the future of omnichannel supply chains. The bar is being raised for B2B and D2C (direct-to-consumer) brands. Customers expect simplicity and faster deliveries, so B2B companies need to create a faster fulfillment network. One way to establish a reliable omnichannel fulfillment strategy is to remove friction from parts of processes that are most important to customers.
6. Shortages of products and personnel
Supply chains have suffered greatly from disruptions in 2021, and that will continue at least until Q3 of 2022. Forrester has predicted that shortages will dominate in 2022. Shortages in products, as well as personnel, have a domino effect. From empty shelves in local stores to higher shipping costs and increased rates. These kinds of problems are difficult to solve, but by gaining insight into customer desires, companies can offer alternatives and better cope with shortages.
7. Reshoring
Reshoring is the opposite of offshoring. The pandemic has exposed the weaknesses of a global logistics network. Due to disruptions in the global supply chain, companies are reevaluating where they source their products. Companies are increasingly considering domestic options where they have more control and are less susceptible to external factors that put pressure on all aspects of the supply chain.
8. Hybrid
Researchers predict that remote work will compete with office work by 2025. Suppliers must prioritize an omnichannel experience to create a seamless purchasing process, both online and offline. This versatility allows employees and customers to work safely from home without impacting business results. E-commerce is becoming a fixed value in the sales model. This channel is just as effective (if not more effective) in reaching customers when (local) COVID measures prevent that.
9. Preparing for millennials
By 2025, 75 percent of the global workforce will be millennials. They generally have a greater social awareness than older generations. B2B suppliers must consider how they can become more energy-efficient and climate-friendly to win the trust and loyalty of buyers. The way companies approach social justice is also important for millennials. This group of buyers expects companies to speak out on important issues. Corporate social responsibility and sustainability are and will become increasingly important.
