There’s no denying the growth experienced by B2B ecommerce in recent years.
It’s the kind of growth that gives companies like ours a reason to exist — a reason to help provide better systematization around the $1.2 trillion transactions projected for the industry by 2021.
In order to keep up with this kind of expansion, your business has to keep up with the B2B ecommerce trends. It needs to optimize around providing the best possible customer experience using emerging technologies and best practices as guides.
Here are some of the top B2B ecommerce trends to watch as we near the end of 2019 and beyond.
#1: Digital Payments
Online payments reign supreme in 2019 — and for good reason. E-commerce and online shopping aside, consumers prefer digital methods of payments over paying in-person with cash or check. The convenience factor is everything.
Think, for example, about a utility bill. When you’re up against a due date, it’s much easier to go the route of paying an electricity or internet invoice online than it is mailing a check.
With all of this in mind, there continues to be a growing demand among businesses for reliable online invoice payment and credit card processing solutions. Preferably ones that are independent from, but still compatible with, B2B ecommerce systems.
#2: Interactive Customer Experiences
Take a trip through Wayback Machine and you’ll find that a lot has changed since the days of Flash and Clipart. Regardless, customers prefer websites that are both interactive and dynamic.
To keep their attention, needs from creative and UX teams are evolving. Integrated video, animated logos, products optimized for voice-driven searches — you have to think outside of the box to move consumers down the funnel.
In this same vein, more ecommerce companies are experimenting with 360-degree online shopping experiences. Augmented reality makes the virtual more tangible and the decision-making process less complex.
With the level of competition companies are up against in the digital marketplace, building customer relationships is all about personalization. And to provide the level of customization required, you have to have systems in place for tracking and automating communications around displayed interests.
Think about a platform like Amazon, for example. When you log in, you’re greeted with a number of recommended products curated from information around past orders, searches, or saves. It’s the same sort of tactic as using abandoned cart emails to re-engage purchases or retargeting ads for brand repetition.
#4: One-Click Ordering
Following the trend of Mastercard PayPass or Visa PayWave, one-click ordering translates contactless payments to the digital world. As we mentioned, convenience is key. And the fewer steps it takes a consumer to pay, the better their experience.
This sort of ordering flow is already used on platforms like Amazon. It lets users select default billing and shipping options when ordering a product to allow for one-tap purchases and seamless reorders.
#5: Buy Now, Pay Later
The concept of layaway is finding a new home in B2B ecommerce in the form of emerging buy now, pay later financing options. These allow customers to better manage their payments over monthly installments rather than paying for everything upfront.
Statistics show that 48% of digital consumers say the availability of financing options would influence their purchasing decisions. And naturally so, as large purchases become much more palatable when the immediate cost is displayed as only a fraction of what was expected.
This is exactly why companies like AfterPay are becoming integrated alongside more and more B2B ecommerce businesses.
Final Thoughts: Top B2B Ecommerce Trends to Watch in 2019 & Beyond
While not necessarily a “trend,” having a vision for scaling and integration will be critical for companies investing in technology. Doing so is necessary for the sake of leveraging said integrations to provide a seamless, more cohesive experience for clients — whether internal or external.
Make k-eCommerce part of that vision with k-eCommerce’s family of online payment solutions. Starting this fall, our offerings will expand with two exciting new products: Payment Extension (allowing users to process credit card transactions directly in their ERP to capture payments) and Payment Portal (allowing customers of clients to pay their invoices online).
Contact one of our B2B ecommerce experts today to learn more.