B2B By The Numbers

The worldwide B2B eCommerce market is on the rise with no signs of slowing down. In fact, all studies and predictions indicate huge growth in this exciting sector. This means almost unlimited opportunities for online wholesale vendors and any business requiring wholesale goods in bulk quantity. Here are some highlights of this exciting sector by the numbers:

In 2021, B2B eCommerce experienced growth at a rate nearly 1.5% faster than other sales channels.

According to GlobeNewswire the global B2B eCommerce market is estimated to conduct over $20 trillion in business by the year 2027.

Furthermore, a report from Statista indicated that B2B eCommerce is currently more than five times larger than the B2C market and is predicted to grow even further.

Due to increased demand from their customers and the rise of online shopping in a post-Covid world, B2B business owners are three times more likely to rely upon eCommerce platforms over traditional sales models.

Today an average eCommerce B2B operation makes more than 18% of its revenue through eCommerce. This level is equal to revenue generated through in-person sales and eclipses most other sales channels.

In just about every sector, approximately 65% of B2B businesses now conduct transactions via eCommerce. This figure is expected to grow even further as customer expectations continue to evolve as eCommerce defines their anticipated experience.

Over 60% of technology buyers in the B2B space are millennials. Conversely, members of Gen Z Only make up only 2% of B2B tech buyers.

87% of buyers in the B2B sector do not mind paying more for the supplier’s eCommerce capabilities, and they prefer a supplier that offers an eCommerce portal, indicating that convenience is a determining factor when choosing a vendor.

Over 50% of B2B buyers are predisposed to purchase through online marketplaces.

Now that you know the numbers take advantage of them by contacting GOBIZUSA to find out how you can take your business to the next level, whether you’re buying or selling. The global B2B market is full of potential and opportunity…if you have the right partner. 

Let GOBIZUSA be that partner and take care of the heavy lifting so you can take care of business.