Coronavirus BRIEFING

Survey Finds That Coronavirus Continues to Impact B2B Ecommerce Sector

NEW YORK—Not surprisingly, COVID-19 continues to have a big impact on B2B ecommerce. This was among the findings of a new survey that included responses from about 1,000 B2B executives and consumers. The survey was organized by digital experience application developer Bloomreach Inc. and it was conducted by Forrester Research. The findings were reported by Digital Commerce 360

According to the survey, 46 percent of companies are seeing a spike in digital sales. This growth is a direct consequence of increased online activity like volume of search, traffic and orders. Among respondents, 22 percent said they have seen no impact from the coronavirus pandemic, and 6 percent said their “business is seeing unprecedented growth.” In addition, 56 percent of B2B customers said they would pay more for a better experience, and they will not buy from the same business again if they have a bad experience.

Many B2B companies also expressed their intention to increase their investment/budget in various ecommerce activities over the next 12 months. These areas include eCommerce site (64 percent), apps (64 percent), social media (58 percent), third-party marketplaces (52 percent), and wholesale distribution (46 percent).

In terms of prioritizing investment decisions, the survey found that B2B companies plan to invest in a variety of digital commerce technologies and channels. About half of respondents (48 percent) said they are prioritizing investment in connected products (Internet of Things) and using third-party online marketplaces.