European B2B ecommerce will flourish

B2B ecommerce continues to take hold in Europe, based on new data from the Chamber of Digital Economy, a Polish research firm. “Many manufacturers and distributors are undergoing digital transformation and becoming involved in e-commerce – nationally and internationally, which is an enormous opportunity for them to keep growing,” the chamber says. 41% of companies are now active in B2B ecommerce and consider their entry into this area of business to be a success, with one in four companies obtaining more than 80% of their revenue from ecommerce, says the Chamber of Digital Economy. As many as 95% of companies see positive effects of launching online sales, and most companies, on average 3.86 (on a 1-5 scale), consider it a success. The benefits most frequently cited by companies are increased scale of operations and turnover, higher efficiency and profitability, and more efficient order processing, says the Chamber of Digital Economy.

The chief benefits European B2B companies get from digital commerce include:

• 95% of companies see positive effects of launching online sales, and most companies, on average 3.86 (on a 1-5 scale), consider it a success.
• 84% of the companies believe that ecommerce is an opportunity for more exports
• 1 in 4 companies is obtaining more than 80% of their revenue from ecommerce.
• Europe’s B2B ecommerce sales are growing at a compound annual rate 12%.
• Total B2B ecommerce sales are projected to reach $1.8 trillion as soon as 2025.
• 2022 European B2B ecommerce sales will reach and estimated $1.33 trillion.

The research also looked at the challenges companies face when implementing e-commerce solutions for the B2B model. The most frequently cited negative effects of implementing this sales channel are increased IT costs and the need to hire experts whose services are becoming increasingly costly. E-businesses are worried about challenges such as effectively breaking through with their offerings, fierce competition, or competing by cutting prices. They also pay particular attention to issues related to their customers’ cyber security.

“The share of B2B e-commerce is growing rapidly and will accelerate further in the coming years,” says the Chamber of Digital Economy.