B2B eCommerce is growing rapidly, accelerated by COVID restrictions over the past 2 years. Corporate buyers now prefer eCommerce and remote purchases to in-person, and for the first time in 2021 B2B eCommerce sales now equal revenues from in-person.
From McKinsey, "Busting the five biggest B2B e-commerce myths":
“Two-thirds of corporate customers intentionally reach for digital or remote in-person engagement when given a choice. Moreover, they’re doing so at every stage of the purchasing journey. In all, e-commerce has surpassed in-person as the single most effective channel.”
“B2B customers are voting with their dollars: e-commerce and in-person sales are tied as the top-producing revenue channels.”
“Business buyers have shed whatever concerns they may once have had about completing major transactions online. More than one-third (35 percent) now say they are willing to spend $500,000 or more in a single transaction on digital channels, a figure that has grown steadily over the past 12 months, and a whopping 15 percent of corporate decision makers are comfortable making purchases worth more than $1 million online.”