In the first part of our discussion on the eCommerce trends for online growth, we shared the 7 key trends and how they will affect the retail industry in general. In this second part, we will take a look on how these trends will affect B2B businesses, what to expect in the coming years, and how these trends can be beneficial to you.
Mobile will be a bigger mediumIn the first part, we discussed how mobile has impacted the eCommerce industry significantly for customers and their experiences. It’s more interesting to note, however, that even B2B businesses in eCommerce can make their transactions quicker and more efficient with mobile use.
Imagine being a supplier or distributor of clothing and apparel among small businesses online and having the convenience of organizing your stock, contacting your clients, and coordinating your sales orders whilst on the road or in a coffee shop far away. That kind of convenience is possible with a mobile-oriented system.
When you’re looking for a mobile system for your business, ensuring that it syncs with the rest of your wholesale workflow is important. With TradeGecko Mobile, you’ll be able to manage your orders on the go, turn your device into a product catalog, and enter new contacts directly into the app, as it even doubles up as customer relationship management software.
Digital payments will be more commonFor B2B businesses, the rising usability of digital payments, like Paypal, means that they can receive payments from their sellers easily – no more waiting times or even travelling to receive payments in person. This also means it’s easier to track payments (or lack thereof), with decreased confusion over who has paid, who hasn’t, or if there are incomplete payments that need to be settled.
If you’re looking for an easy way to get started with digital payments, TradeGecko offers a digital payment solution for wholesalers. For TradeGecko Payments users, TradeGecko invoices come with a “Pay Invoice” button that lets you bill wholesale customers in a single click and offer them an easy payment experience, enabling you to get paid faster.
eCommerce personalizationCustomization is growing to be a big deciding factor with many in the eCommerce industry. While this is usually attributed to customers who wish to have their experiences with online shopping customized to their interests and previous searches, this does not mean that B2B businesses are left out.
In fact, many platforms that cater to B2B businesses for their transactions and other processes now boast that users can personalize their system based on what style they are most comfortable with, and the functions they need are readily available based on the specifications they are looking for. Customization is growing to be a more dominant factor with eCommerce industry players, and it is predicted to grow bigger in the coming years.
For wholesale businesses that are thinking of getting started in the B2B eCommerce space, TradeGecko’s B2B eCommerce Store will let you send approved retailers a unique link where they can view customized products and prices. It also integrates seamlessly with the inventory management side of things and now all finalized sales orders from the B2B eCommerce Store can be paid through TradeGecko Payments.
Running your B2B business is easy with a system like TradeGecko.
Even more omni-channelsB2B businesses have as much to benefit from omni-channels as customers do. Through features such as multichannel synchronizations and real-time stock information, it becomes much easier to manage your products or services, as well as your clientele and other business eCommerce connections. PureNet calls this “getting the basics right”. Once you have these features, you can begin considering more innovative omni-channel technologies to further your eCommerce ventures.
The rise of chatbots
While still in development, chatbots are predicted to be capable of searching, suggesting products, placing orders, answering customer queries, and even conversing with other businesses affiliated with the company for a faster transaction, even if the company itself is offline.
You can also consider using chatbots as a way to qualify potential retailers for your business, by setting up a series of qualifying questions as part of your chatbot script. That way, you’ll be able to filter through potential retailers more efficiently, as you’ll only have to interact with the best leads instead of interviewing every retailer personally.
Higher delivery expectations
Expectations for eCommerce delivery timescales have risen – with standards built around reduced waiting times and more precise locating capabilities. Many online retailers are also looking for profitable ways to deliver free (and fast) shipping to compete with the bigger names in the industry such as Amazon. And it’s expected that they will continue doing so in the future.
With the vast growth that eCommerce has seen in recent years, loyalty is definitely a force to be reckoned with. People are more inclined to stay loyal to companies or businesses that give them something in return for their loyalty. Giving loyal business partners or affiliations something for their continued support has also been a growing trend. In the B2B eCommerce community, it’s common to hear “reseller discount” (or similar) in exchange for other businesses selling your products or services for you.
When it comes to customer retention, you may want to set special pricesor have lower price breaks for great customers. You may also choose to run special events for new product launches, inviting your best customers for a preview where they can purchase the latest products on the spot.
Needless to say, these trends will play big roles in shaping the eCommerce industry from this year onwards – even for B2B business owners. Improvements, advancements, and more await the eCommerce industry and its players in the coming years – starting now. If you aren’t yet in the loop about these trends, it’s time to acquaint yourself before the year ends.
About the author:
I am Carlton Coleman and I am the owner of SIGN WITHIN superstore, which is aneCommerce business under the umbrella of the The Sign Within Academy, LLC. This company seeks to not only provide an online shopping experience with great deals, discounts, and rebates but to partner and support non-profit organizations that speak to hearts, stretch minds and serve the whole of humanity to further their causes. I am strong believer that you make a living by what you get but you make a life by what you give.
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