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What Is B2B E-Commerce?
B2B e-commerce (business-to-business electronic commerce) describes order transactions between businesses via an online sales portal.
In plain english, B2B e-commerce is used to advance the performance of a company’s sales efforts; because orders are processed digitally, buying efficiency is improved for wholesalers, manufacturers, distributors, and other types of B2B sellers.
A Snapshot Of Growth Opportunities
In 2019, global sales on B2B e-commerce sites and marketplaces jumped 18.2% to reach
US$12.2 trillion, outpacing the B2C sector, and is projected to reach
US $20.9 trillion by 2027.
Source: https://www.statista.com/study/44442/statista-report-b2b-e-commerce/
Forrester predicts the US B2B e-commerce market alone will reach US$1.8 trillion
and account for
17%
of all B2B sales in the country by 2023.
And this was
pre-COVID-19…
Source: https://www.forrester.com/report/US+B2B+eCommerce+Will+Hit+18+Trillion+By+2023/-/E-RES136173
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