Discover what's in store for online purchasing.
Technology has already radically shifted B2B commerce experiences into ones that are more personal and easier to access.
Emerging trends like AI-driven analytics, blockchain-based supply chains, and hyper-personalized buyer journeys are not just disrupting the present but setting the stage for unprecedented innovation.
By 2030 and beyond, businesses will likely navigate a fully-digitized ecosystem where predictive insights, autonomous processes, and augmented reality-enhanced decision-making become integral to the B2B landscape.
So, looking ahead, what can you expect from B2B Commerce?
B2B Commerce Will Be Smart
AI will continue to be a hot topic, especially in B2B commerce. According to Gartner, the number of businesses adopting AI has grown by 270% in the past four years.
AI will help change how businesses operate and perform:
AI can improve inventory accuracy by up to 95%. Companies worldwide lose $300 billion in annual revenue because of poor inventory management.
79% of marketers stated that integrating AI into marketing and sales has increased business revenue.
Using AI will extend far beyond operational and performance improvements. AI can help B2B companies better understand and serve their customers by:
Generating content and experiences tailored to individual customers. With AI, businesses can present personalized product recommendations, offers, and content that are more likely to drive conversions.
Enhancing privacy and security by identifying the possibility of fraud and detecting suspicious purchases quickly.
Predicting demand to help optimize inventory levels and minimize excess.
Enabling new business models, such as voice commerce, social commerce, and experiential commerce to provide customers with more seamless purchasing experiences.
B2B Commerce Will Be Connected
The line between physical and digital channels will become more and more blurred. In fact, the hybrid of the digital and physical is now called “phygital.” Although this buzzword is more common for B2C retail spaces, it will become increasingly important in the B2B space as well.
Even though B2B commerce involves more touchpoints and more complexity than B2C purchasing, B2B customers still expect B2C-like experiences.
For this reason, “phygital” commerce will become important to help bridge the gap between B2B and B2C commerce experiences.
What can phygital look like for B2B? Let’s say your business is going to a trade show or exhibition:
Set up VR or AR booths for more interactive demos and hands-on experience.
Add virtual assistants to your booths to guide attendees, giving them personalized pitches and information.
Allow visitors to see your catalog on a tablet or screen and select products that they’re interested in. Using this information, your sales rep can follow up with more personalized demos and content, helping attendees feel like your company understands their needs.
Phygital is still relatively new, but is set to play a major role in the B2B space. By leveraging phygital, B2B commerce will provide more deeper and personal experiences for customers.
B2B Commerce Will Expand
B2B organizations are expanding into B2B2X business models, allowing them to serve wider audiences and increase revenue streams. In fact, sales for B2B2C grew 25% faster than traditional B2B sales.
The shift in buyer behavior and digital platforms has made B2B2C possible, allowing for scalability. B2B2C has proven extremely successful in the Telecom, Fintech, and Manufacturing industries in particular.
For the future, however, B2B2C will need to have these things in place to maintain and increase success:
Integrated channels to communicate between partners, wholesalers, retailers, and end customers.
Real-time data on orders, inventory, pricing, and customer information so that all channels are aligned.
Scalable technology that can handle both B2B and B2C business models and can grow to expand into new business verticals.
Although the B2B2C model can be beneficial for both your business and your customers, you’ll need a robust commerce platform to help you meet complex needs adequately.
The New Era of B2B Commerce
The future of B2B commerce, while brimming with possibilities, will require your business to think carefully about your strategy and implementation plan.
Reach this future of B2B commerce with a commerce platform that brings powerful commerce capabilities on a scalable digital experience platform: Liferay DXP.