As B2B eCommerce remains relatively young, businesses need to update their eCommerce operations or risk being left behind, according to findings from a new report released by BigCommerce this past week.
BigCommerce — an open SaaS eCommerce platform for established B2C and B2B brands — released the results of its Global B2B Buyer Behavior Report “examining the changing habits and preferences of B2B buyers in the US, UK and Australia,” according to a news release.
“The results reflect a continued blurring of lines between consumer retail and B2B eCommerce trends,” BigCommerce said in the release. “B2B buyers increasingly expect the same experience they get as consumers: engaging mobile responsive sites, product and pricing transparency and a frictionless checkout experience.”
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Among the key findings from the report:
- 74% of respondents said they use online platforms to purchase products.
- 65% said they use search engines as the main means of product discovery, while 42% cited online marketplaces (such as Amazon Business).
- 60% of respondents shared that they use B2B marketplaces to make purchases, with 51% of those using Amazon Business.
- B2B buyers’ main pain points during the purchasing process are inaccurate pricing and shipping costs (40%), slow website load times (29%) and poor customer support (28%).
- 31% of respondents indicated that technical issues kept them from completing an online purchase.
- Respondents indicated that the most important feature of the checkout process was not mobile support or auto-renew functionality, but displaying complete and accurate pricing information.
“The way B2B buyers shop is changing, and B2B merchants need to adapt. Buyers are turning to online channels to research, compare and purchase products,” said Lance Owide, General Manager of B2B at BigCommerce. “B2B merchants need to have a strong online presence and offer a seamless omnichannel shopping experience to keep buyers loyal and converting — or risk losing market share.”