Introduction
Since 2020, the e-commerce channel has risen to prominence and is now a primary purchasing channel for many business purchasers.
Despite this, a lot of #B2B enterprises have told us that "clients aren't ready" and "e-commerce is an immature market for businesses like ours."
McKinsey & Company's newest #B2B Pulse helps to put these myths to rest.
Myths About B2B eCommerce
The traditional knowledge surrounding #B2BeCcommerce needs to be reset. #McKinsey & Company exposes five prevalent beliefs held by many #B2B organizations.
Myth #1: Most B2B businesses do not provide e-commerce
Almost two-thirds (65%) of B2B enterprises across industries now provide e-commerce capabilities. B2B merchants are now more likely to provide e-commerce channels than in-person sales channels.
Myth #2: Face-to-face contacts are preferred by B2B buyers
When given the option, two-thirds of corporate customers choose digital or remote in-person engagement. Overall, e-commerce has eclipsed in-person as the most effective single channel.
Myth #3: A simple e-commerce site will suffice
The majority of B2B enterprises view e-commerce as a full-service channel, and they are investing accordingly. More than 80% believe their e-commerce channel is held to the same or higher standard as traditional channels.
Myth #4: E-commerce is only for low-ticket or repeats purchases
The majority of purchasers are willing to spend $50,000 or more on digital channels in a single transaction.
Myth #5: Digital marketplaces are optional
Digital marketplaces are an important element of the purchasing mix for B2B buyers. A substantial 60 percent of B2B buyers say they are willing to buy on digital marketplaces.
Conclusion
All of the myths have been debunked in the preceding discussion. If business owners or SMBs are serious about expanding their operations, they must convert their traditional stores to digital or online stores.
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