Stat Watch: Investing in Experience
Nearly half (48 percent) of business-to-business (B2B) sellers said they are aware their customers are comparing the shopping experience they provide with other experiences including those on popular business-to-consumer (B2C) sites according to a new study of mid-market B2B e-commerce decision-makers from Forrester Consulting commissioned by NetSuite. So what are retailers doing about it?
Thirty-nine percent of sellers surveyed report they are either currently choosing a new e-commerce partner or plan to choose one within the next 12 months. Of those considering a new e-commerce provider, two-thirds (62 percent) said they would lean toward a single-stack approach with their new provider (e.g., no separate systems for orders, inventory, etc.).
Mid-market sellers using a single-stack solution indicated these offerings deliver simplified maintenance, greater agility and easier expansion as well as streamlined operations overall.
Part of the reason B2B sellers - particularly those who have not had a digital presence before - are making these investments is the current level of competition online.
Forrester reports that U.S. B2B e-commerce will grow from $780 billion in 2015 to $1.13 trillion by 2020. What's more, 42 percent of sellers in the study expect at least half of their customers to be buying from them online within the next three years.
It's not enough just to have a digital store, of course, CX needs to be invested in. More than half of sellers reported focusing on e-commerce because their customers expect a high-quality online shopping experience (like those offered by some B2C sites), indicating business buyers are bringing their consumer expectations to work with them.
Other Notable CX Stats: