E-Commerce Sales: The Way You Can Use to Create a Surge in E-Commerce Sales?

Many businesses are shifting their purchasing preferences and every organization needs to keep up or they put themselves at risk. Online transactions have become easier than ever before and companies are leveraging the power of the Internet to their advantage and conduct business more efficiently.

In fact, business-to-business ecommerce sales are expected to rise to more than $1 trillion by 2020 from $780 billion this year and account for 12 percent of all B2B sales, according to a recent report by Forresterits first ever five-year B2B ecommerce forecast. This represents a solid 8 percent compound annual growth rate over the next five years.

There are a few factors driving this growth and todays businesses need to adjust their models to accommodate or be at a competitive disadvantage. The simple truth is that businesses and consumers both are getting more comfortable with online purchasing. This is only going to grow, despite all the news about the rise in security breaches.

Right now, 74 percent of buyers in an organization research at least half of their work purchases online, according to Forrester. Take that time and research and add the known cost savings and ease of use of self-service ecommerce, and the result is more offline business will move online, Forrester said.

As consumers grow more comfortable with online purchasing, they bring those behaviors to the workplace. Organizations saw the same thing happen with mobile computing. Employees wanted the same access to information they were getting outside the workplace on the same devices, so organizations had to change.

B2B buyers are now expecting B2C-like customer experiences online, and they're growing increasingly impatient with B2B sellers that don't provide it," said Forrester in the report. As a result Forrester strongly recommends that companies must build their digital business quickly or they will lose market share to online competitors.

Here are some other eCommerce facts to chew on from Forrester:

30 percent of today's B2B buyers complete at least half of their work purchases online. With that percentage nearly doubling to 56 percent by 2017, B2B sellers will see a significant volume of offline business move online in the next few years.

B2B companies report cutting their cost to serve dramatically by migrating customers online.

60 percent of B2B companies report that their B2B buyers spend more overall when those customers interact with multiple channels. Omnichannel B2B customers are also more likely to become repeat and long-term customers.

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