Unlocking the Potential of B2B Digital Commerce in 2023

The global business-to-business e-commerce market size was valued at USD 7,907.07 billion in 2022 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 20.2% from 2023 to 2030. According to a report by Forrester, B2B e-commerce is expected to reach $1.8 trillion in the US alone by 2023. This growth is driven by the increasing adoption of digital technologies by businesses and the need for more efficient and convenient procurement processes. To maximize digital sales, top B2B brands and distributors are adopting the following strategies:

Increased investment in technology: A survey by DigitalCommerce360 found that 75% of B2B companies are investing in technology to improve their e-commerce operations. This includes investments in designing user-friendly websites, data analytics, and automation. A well-designed website with a clear and intuitive user interface can help increase conversion rates and improve the overall customer experience.

Growth of mobile commerce: According to a report by Accenture, 60% of B2B buyers use mobile devices to research products and make purchases. This highlights the importance of providing a seamless mobile experience for B2B customers.

Expansion of product offerings: B2B e-commerce companies are expanding their product offerings to include a wider range of…