To understand the state of the B2B eCommerce market, where it’s headed and what drives CPG wholesalers and distributors to adopt omnichannel commerce, we surveyed 200 Pepperi prospects during 2021.
Respondents included CPG wholesalers and distributors across 3 regions including the US (106 respondents), EMEA (62) and APAC (32).
To understand more about why these changes are taking place, and where omnichannel can support, we took a closer look at the forces behind B2B eCommerce growth.
Over half of those that plan to adopt an omnichannel commerce approach are doing so with an eye on increasing revenues (58%). It goes very much in line with the 2020 Global Benchmark Report revealing that on a global scale, distribution companies experience an annual revenue loss in the range of 7.25% – 28.47% due to sub-par sales practices, and an annual margin loss in the range of 2.89% – 15.70% due to sub-par pricing practices. 53% reported they want to be more competitive in the market (53%), 47% are driven by wanting to satisfy customers and around 18% to increase product discoverability.
Despite the pandemic and the accelerated growth of B2B eCommerce, the majority (55%) of respondents still haven’t implemented a self-service portal.
Out of three sales channels, telesales and field sales are still the most preferred and widely used channels among wholesalers and distributors across all regions.
Lisa Anderson, President, LMA Consulting Group, Inc. comments on the future of B2B eCommerce.