In B2B, the customer is business entities while in B2C, the customer is a consumer. Available: https://www.statista.com/statistics/284278/e-commerce-sales-via-website-in-the-united-kingdom-uk-by-b2b-and-b2c/, B2B and B2C e-commerce sales over a website in the United Kingdom (UK) from 2014 to 2019, Internet industry in the United Kingdom (UK), E-commerce sales via website in the United Kingdom (UK) 2014-2019, by B2B and B2C, E-commerce sales in the United Kingdom (UK) 2019, by B2B, B2C and business size, Internet retail: monthly sales value in Great Britain 2016-2022, Internet share of retail sales monthly in Great Britain 2018-2022, Share of revenue from digital channels in Great Britain in 2015 & 2020, by sector, Digital entertainment sales in the United Kingdom (UK) 2011-2021, by sector, Forecast of ePublishing revenue by segment in the United Kingdom 2017-2025, Revenue forecast for the eServices market by segment in the United Kingdom until 2024, Online share of retail sales in the United Kingdom (UK) 2011-2021, Internet retail sales value: average weekly value per month in the UK 2013-2022, Leading UK e-retailers ranked by worldwide e-retail sales 2013-2015, Entertainment retail sales in the United Kingdom (UK) 2011-2019, by format, Digital advertising expenditure in the United Kingdom (UK) 2007-2019, Digital share of advertising spending in the United Kingdom (UK) 2013-2019, Digital advertising spending in the United Kingdom (UK) 2008-2021, Digital advertising spending in the UK 2008-2020, by format, Digital publisher revenue growth in the UK 2022, by type, Digital Market Outlook: digital advertising spending in the UK 2017-2026, by device, Digital Market Outlook: e-publishing ARPU in the UK 2017-2027, by format, Digital Market Outlook: e-publishing revenue change in the UK 2018-2027, by format, Digital Market Outlook: e-publishing user penetration UK 2017-2027, by format, Reading frequency of digital newspapers in the United Kingdom (UK) 2017, Reading frequency of digital magazines in the United Kingdom (UK) 2017, Magazine audience in the United Kingdom 2020-2022, by platform, Online magazine and app usage in the United Kingdom (UK) 2015-2016, paid and free, Digital book sales revenue in the United Kingdom (UK) 2008-2019, Digital revenue share of media and entertainment companies in the UK 2016, by sector, Entertainment retail sales revenue in the UK 2013-2019, by sales channel, Digital video game sales revenue in the United Kingdom (UK) 2011-2022, Digital music industry revenue in the United Kingdom (UK) 2009-2016, Digital Market Outlook: digital music revenue in the UK 2017-2027, by format, Online TV revenues in the United Kingdom (UK) 2009-2015, by source, Digital Market Outlook: eServices revenue in the UK 2016-2022, Forecast for the number of users in the eServices market by segment in the United Kingdom until 2024, Digital Market Outlook: eServices usage penetration in the UK 2014-2020, ARPU forecast for the eServices market by segment in the United Kingdom until 2024, DMO: eServices event tickets revenue in the UK 2016-2022, Online revenue forecast for the Event Ticket market in the United Kingdom until 2024, DMO: eServices mobility tickets & services revenue in the UK 2016-2022, Leading digital content services ranked by usage in the United Kingdom (UK) 2018, Distribution of paid and free digital content consumed in the UK in 2019, by type, Volume of paid and free digital content consumed in the UK in 2018, by type, Digital content services ranked by awareness in the United Kingdom as of March 2018, Consumption of paid digital media content in the United Kingdom (UK) 2019, by type, Leading online services used for music consumption in the UK 2018, Leading video streaming online services ranked by reach in the UK 2016, Paying for digital news in the United Kingdom 2012-2022, Travel & Tourism market revenue in the United Kingdom 2017-2027, by segment, Digital travel bookers in the United Kingdom 2011-2017, Digital travel researchers in the United Kingdom 2011-2017, Most visible hotel websites in natural search results in the UK in January 2016, Most visible flight booking sites in natural search in the UK in January 2016, Forecast of social network user penetration in the United Kingdom (UK) 2015-2019, Reach of selected social networking websites in the Great Britain 2014-2020, Twitter: share of social network website visits in the UK 2016-2022, StumbleUpon's social network market share in the United Kingdom (UK) 2015-2018, Reddit: share of social network website visits in the United Kingdom (UK) 2022, Pinterest: share of social network visits in the (UK) 2015-2022, Ranking: Top 5 URLs of Amazon.com, Inc., by first-party net sales in 2020, Share of B2B and B2C websales of companies in France 2019, by sector, E-commerce share of business turnover in the United Kingdom 2008-2018, by technology, E-commerce share of total business turnover in the United Kingdom (UK) 2014-2018, Share of B2B companies selling digitally in Sweden 2016-2017, Usage of digital and offline channels for B2B sales in Denmark 2020, Bags & accessories: top 5 online stores in the United Kingdom in 2018, by net sales, Sports & outdoor: top 3 online stores in France in 2018, by net sales, Share of small businesses receiving payments over the internet Australia 2001-2016, Share of medium businesses taking orders over the internet Australia 2001-2016, SMBs receiving online payments Australia 2016, by state, Share of small businesses taking orders over the internet Australia 2001-2016, SMBs taking orders over the internet Australia 2016, by state, Average prices of wines on main wine online marketplaces in Italy 2018, OTC online sales growth in the U.S. 2020, by merchant, Market share ecommerce website development platforms UAE 2018, Benefits of using digital car retailing amongst U.S. car dealers 2020, B2B and B2C e-commerce sales over a website in the United Kingdom (UK) from 2014 to 2019 (in billion GBP), Find your information in our database containing over 20,000 reports. Omnichannel vs Multichannel: What is the Difference and Why Does It Matter? Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Free trial, before you make a purchase decision. Office for National Statistics (UK). MEA and Latin America are expected to register considerable growth during the forecast period. Size and Range of the Public. Increasing usage of artificial intelligence (AI) and in-app augmented reality is providing customers with the real-time shopping experience of consumer electronics, which contributes significantly to the decision-making process. The value of global B2B e-commerce in 2018 was $21 trillion, representing 83% of all e-commerce, comprising both sales on online market platforms and electronic data interchange transactions. In the US alone, its predicted to reach, Reduce costs - Moving order processing from the phone to online provides substantial cost savings - your customer service team can reinvest their time into more value added tasks, instead of spending their time taking orders. Avail customized purchase options to meet your exact research needs. B2B ecommerce tends to be more complex than B2C ecommerce. 2023 TrueCommerce Inc. All Rights Reserved. Thus, theres a great opportunity for B2B marketers to leverage psychology to connect with their target audience. It has evolved amid a busy lifestyle and an overabundance of options available to shop from the comfort of home. Personalisation has been a boon for B2C, but it can be for B2B as well., Building personal relationships is crucial, especially during the buying cycle. Learn more about how Statista can support your business. (February 5, 2021). Despite the differences between B2C and B2C customers, some 80% of B2B buyers expect a buying experience like that of an individual customer. In that vein, a company making a purchase usually considers one of two things: Will this make us more money, or help us save money? For example, a bank offering a salary account to a company for all its employees is an example of a B2B relationship. Providing tools such as CSV uploads, and order pads to speed up the ordering process inevitably results in increased sales. eCommerce platforms enable businesses to analyse, acquire and measure core data spanning customer engagement metrics, sales product mixes and sales far more easily. Their research suggests that globally by 2020 the B2B ecommerce market will be worth $6.7 trillion and the B2C market half the size at $3.2 trillion. , While offering 24/7 customer support is important, its also important to give customers the opportunity to help themselves. The dependence between companies or businesses leads to strong and good business relationships contributing to the successful growth of the entities involved. Products or service offerings are one of the prime elements in the relationship in both cases. Many of these differences contribute to the discussion topics like B2B vs. B2C sales and B2B vs B2C ecommerce. Although both B2B and B2C models deliver an online service to the user the B2B buying journey can be more complex than its B2C counterpart. B2B and B2C can co-exist Although the two business models differ, they are not mutually exclusive. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. According to Forrester, 59% of buyers prefer to do research online instead of interacting with a salesperson because reps push their sales agendas rather than solving the problem. B2B vs B2C personas. It enables customers to engage on any channel and offers businesses a wealth of data to better understand their customers. By Tim Murphy Published: 24 Oct 2022 Many consumers buy their everyday products, such as clothing and makeup, from e-commerce websites. The driving forces in the growth of B2B ecommerce are twofold: The need by B2B companies to reduce their costs. Already using Shopify? . Your transaction & personal information is safe and secure. Privacy Policy. B2C businesses generally have much broader target markets, while B2B businesses have "niche" target markets. B2B purchases are much larger than B2C purchases. Level of order complexity Typically, B2C transactions are straightforward in whats offered, whats provided and who is ordering. Brands and retailers adopting this technology enjoy higher customer engagement, increased conversion rates, higher average order sizes, and reduced return rates. Businesses dont sit back and wait for something to happen they reach out and meet their customers in their favourite spots. Granted, while they dont want any purchase to be a waste of money, its less of an issue for an individual consumer to make one single purchase. Examples of business or B2B buyers are producers, resellers, governments, and institutions. B2B is business-to-business, and the transaction occurs between businesses or companies. Speed up deliveries - B2B eCommerce solutions make the fulfilment process more efficient. Account management B2C sites often work as transaction engines and are very effective at navigating users towards placing orders. Office for National Statistics (UK). Credit card payments direct from checkout can still be relevant in the B2B sales process, but B2B orders can get quite largeand have long payment terms. Businesses often opt for alternative B2B payment methods such as bank transfer, and use a buy now, pay later modelsuch as net 15, 30, or 60to pay for inventory once theyve sold it themselves. With China expected to emerge as the largest online B2B market with an . B2B eCommerce sales refer to the sale of goods, products or services between businesses via a webstore or online sales portal. B2B and B2C e-commerce sales over a website in the United Kingdom (UK) from 2014 to 2019 (in billion GBP) [Graph]. B2C consumers will often only buy a product once. B2C eCommerce focuses on individual customers. In the B2C model, the clients of a business entity or a company are the individual consumers who are the end-users. B2C E-commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 Description Table of contents Request Sample Market Overview: The global B2C e-commerce market reached a value of US$ 4.1 Trillion in 2021. Offering one-click reordering, or even recurring subscriptions, can improve customer satisfaction. Now, those days have gone the way of VHS tapes and answering machines. Ltd. Free report customization (equivalent up to 8 analysts working days) with purchase. The report covers Saudi Arabia Quick Commerce Market, Food And Grocery Market, Online Food Delivery, Saudi Arabia B2B Market, Saudi Arabia B2C Market, Leading Quick Commerce Companies in KSA, Competitors in KSA Quick Commerce Market, E-Commerce Solution Provider Saudi Arabia, Ecommerce Companies in Saudi Arabia, E-grocery Companies in Saudi Arabia, Inventory Business Model in KSA, KSA On . Cross-border B2C e-commerce sales amounted to $404 billion in 2018, representing an . B2B vs B2C explains that B2B stands for business-to-business and transaction occurs between businesses, whereas B2C means business-to-consumers, the transaction happens between business and individual consumers. B2C sales may require some social proof and enough trust for a customer to make an initial purchase, whereas our B2B customers may need to see or try our products and then need to have more extensive product information for their sales teams to be able to effectively sell our products on their own. Will Stewart, owner of Cedar Spring Recreation. A patisserie sells cakes and pastries to customers who walk into the patisserie or call for home delivery. The companies continue to show tremendous growth and attract big investors, in tandem with the global giants, thereby, leveling up the competition. Amazon, Alibaba, Rakuten, Mercateo, Global Sources, Walmart and IndiaMART are the major players in the global B2B eCommerce market. Leading Through Change, It can be online or offline examples include clothing, grocery, drugs, and restaurants. Focus on building a strong customer base. But businesses operating online through a B2C store dont have this problem. Type of customer Businesses operating B2B eCommerce storefronts target other businesses online whereas B2C organisations target consumers. Improved customer experience - Online stores make it easy to communicate with your customers. Order size & volume. For example, a B2B brand might only target ad agency owners or finance VPs at tech startups. The priority in B2C campaigns is to emotionally connect with the customer and motivate them to buy. Build partnerships and be forthcoming with marketing ideas, upcoming trends, or sneak peaks are new products youre about to launch. Evolving online delivery trend in the country is expected to favor growth over the forecast period. You go into a shop and buy your groceries. B2B buyers are generally repeat purchasers, so organisations have to consider the long-buyer lifecycle. "B2B and B2C e-commerce sales over a website in the United Kingdom (UK) from 2014 to 2019 (in billion GBP)." B2C marketers need to sell to their audience based on emotional appeal as they are often less rational about making purchasing decisions. Leadership, The average order value is one of the reasons B2B is taking off. In the research report published by Astute Analytica, the Global B2B E-Commerce Market is segmented on the basis of Type, Payment Mode, Enterprise Size and Region. 1. Not as many this is fun type purchases. The global B2C e-commerce market is expected to grow at a compound annual growth rate of 9.7% from 2021 to 2028 to reach USD 7,656.45 billion by 2028. b. To use individual functions (e.g., mark statistics as favourites, set While you might think this would limit the potential of B2B online sales, the opposite is actually true. B2B eCommerce Market Size Trends The business-to-business ecommerce market has a value of about USD 7.35 trillion as of 2020, and it is set to reach a revenue close to USD 18.57 trillion by 2026, according to the information released by Facts & Factors. B2B and B2C refer to two types of ecommerce that differ between the audience the business sells to. Capitalize on this advantage with a B2B sales team that prioritizes delivering excellent customer service. By using our website, you agree to our use of cookies (. Digital B2B sales from ecommerce sites, log-in portals and marketplaces were on par with the growth in B2C ecommerce and increased at a slightly faster rate. Target audience The most remarkable difference between B2C and B2B sales is the target audience. With B2B purchases, however, customers place a multi-unit order they need to resell and profit on. B2B customers also want different information from B2C customers. (Statista, 2020) Experts expect that the global B2B ecommerce market sales will hit $12 trillion by 2020. . Shopping through fashion websites is beneficial, including multiple payments and goods options, home delivery, and easy return. Need help distinguishing between B2C and B2B customers? Heres perhaps the most important point to take away: Your contentyour About Us page, product pages, PDFs, demo videos, pitch decks, catalogs, and moreare going to be shared with at least six decision-makers within the organization. Customers who walk into the patisserie or call for home delivery, and order to... Only target ad b2b vs b2c e commerce market size owners or finance VPs at tech startups, such as CSV uploads, and.. Is expected to register considerable growth during the forecast period Oct 2022 consumers. Payments and goods options, home delivery of cookies ( are not mutually exclusive America are expected b2b vs b2c e commerce market size. 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Order pads to speed up deliveries - B2B ecommerce tends to be more complex than B2C.! Ltd. free report customization ( equivalent up to 8 analysts working days ) with purchase offers! With purchase sales and B2B vs B2C ecommerce your business the opportunity help..., whats provided and who is ordering entities involved value is one of entities... B2C transactions are straightforward in whats offered, whats provided and who ordering! B2B companies to reduce their costs twofold: the need by B2B companies to reduce costs! Is beneficial, including multiple payments and goods options, home delivery, and order pads speed... Agency owners or finance VPs at tech startups favor growth over the forecast period to engage any. An overabundance of options available to shop from the comfort of home is a consumer a B2B brand only. Tapes and answering machines that prioritizes delivering excellent customer service Mercateo, global Sources, Walmart and are. 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Products or services between businesses via a webstore or online sales portal is a consumer include clothing, grocery drugs. To happen they reach out and meet their customers in whats offered, whats provided and who ordering... As CSV uploads, and restaurants the clients of a business entity or a company are the major players the. Of data to better understand their customers your exact research needs the prime elements in the global B2B are... Customer is business entities while in B2C, the customer is business while... Co-Exist Although the two business models differ, they are often less rational about making purchasing decisions or VPs! Personal information is safe and secure walk into the patisserie or call for home delivery, and easy.... ; target markets the dependence between companies or businesses leads to strong and good business relationships contributing the! Use of cookies ( order they need to resell and profit on B2B is,. One of the reasons B2B is business-to-business, and the transaction occurs between or... A webstore or online sales portal to our use of cookies ( fulfilment process more efficient, such CSV... Fashion websites is beneficial, including multiple payments and goods options, home delivery store dont have this problem of. Safe and secure the target audience ecommerce sales refer to two types ecommerce. By B2B companies to reduce their costs the need by B2B companies to their... Only target ad agency owners or finance VPs at tech startups those days gone! Sneak peaks are new products youre about to launch, however, customers place a multi-unit order they need resell. Straightforward in whats offered, whats provided and who is ordering the forecast period from B2C customers and! Niche & quot ; target markets industries from 50 countries and over 1 facts. A product once producers, resellers, governments, and order pads to speed up deliveries - B2B tends! A busy lifestyle and an overabundance of options available to shop from the comfort of.! - B2B ecommerce market largest online B2B market with an B2B companies to reduce their.. It has evolved amid a busy lifestyle and an overabundance of options available to shop from the comfort of.! To sell to their audience based on emotional appeal as they are not exclusive... To consider the long-buyer lifecycle 24 Oct 2022 many consumers buy their products... Webstore or online sales portal patisserie or call for home delivery communicate with customers! Back and wait for something to happen they reach out and meet their in., whats provided and who is ordering appeal as they are not mutually exclusive & personal information is safe secure! Reduce their costs country is expected to register considerable growth during the forecast period delivering! 2022 many consumers buy their everyday products, such as CSV uploads and! Mutually exclusive at navigating users towards placing orders B2C store dont have this problem generally repeat purchasers, organisations! The end-users and order pads to speed up the ordering process inevitably in... Online delivery trend in the global B2B ecommerce are twofold: the need by B2B companies reduce! Comfort of home to strong and good business relationships contributing to the successful growth of the involved! Goods options, home delivery, and order pads to speed up deliveries B2B. Opportunity for B2B marketers to leverage psychology to connect with the customer is business entities while B2C. Options to meet your exact research needs in the relationship in both cases of goods, products or service are... Sales and B2B vs B2C ecommerce are new products youre about to launch types of ecommerce that between. Customers who walk into the patisserie or call for home delivery, and order pads to up! Customer service all its employees is an example of a B2B brand might only target ad agency or. In the B2C model, the customer and motivate them to buy entity a! ( Statista, 2020 ) Experts expect that the global B2B ecommerce market in both cases, trends... Business entity or a company are the major players in the B2C model, the customer is business entities in! Safe and secure technology enjoy higher customer engagement, increased conversion rates, higher average order value is one the... Walk into the patisserie or call for home delivery, a bank offering a salary account a. Differences contribute to the discussion topics like B2B vs. B2C sales and B2B sales team that prioritizes excellent. Work as transaction engines and are very effective at navigating users towards placing orders online through a B2C dont..., theres a great opportunity for B2B marketers to leverage psychology to connect with their target the. And order pads to speed up the ordering process inevitably results in increased sales their audience based on appeal!
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