World News: 14:06 GMT Monday 11th February 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Feb. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
Global digital business to business sales outpacing online retail cites projections that by the end of this decade, volume of online B2B sales will be twice that of digital retail sales, as the wholesale sector adopts convenience traits of B2C merchants.Global B2B E-Commerce has evolved into a multi-trillion dollar market and is expected to see further growth over the next several years. By 2020, B2B E-Commerce sales are projected to be more than two times higher than global online retail sales, according to a forecast cited in the report. Given this potential, B2B sellers worldwide count on E-Commerce to drive revenue growth and improve customer satisfaction.
Sales figures of worldwide B2B E-Commerce are already in trillions of US dollars, and continued growth is expected. The report includes cites projections of growth, including a forecast that by 2020, digital B2B sales volume will be double that of online retail. Online sellers to other companies expect E-Commerce to improve their revenue growth while providing better service to their customers.Some of the major trends in B2B E-Commerce imitate those of B2C sales. B2B buyers have come to expect the same 24/7 research and purchase capability that they have with online retail shopping, and B2B sellers are responding. Further, the marketplace trend of online retail extends to B2B E-Commerce, as platforms such as Alibaba.com, ThomasNet and Amazon Business expand their reach and additional business to business sellers offer their products and services through marketplaces.
Similar to digital retail, online marketplaces play an important role in driving the growth of B2B E-Commerce. Marketplace platforms such as Alibaba.com, ThomasNet and Amazon Business attract millions of users worldwide, and more B2B companies plan to start selling on marketplaces within the next two years, according to a survey cited in the report.
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Globe Newswire: 14:06 GMT Monday 11th February 2019
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