- Huyett Marketing Department
- 09/23/2021
The customer journey has changed considerably over the last 40 years. The introduction of the internet in the late 1980s accompanied with the rise and evolution of online shopping through the 1990s and early 2000s has led to an increased demand from consumers to be able to purchase goods online. Even now, online sales continue to surge with sources indicating nearly a 44% increase in sales during 2020 alone. This surge, encouraged by a global pandemic, cements the idea that ecommerce is an important aspect of our daily lives. In fact, online shopping has become so commonplace, there is an unspoken expectation for businesses to have an ecommerce presence.
What is Ecommerce?
Ecommerce, short for electronic commerce, is the buying and selling of goods and services through the internet. It involves the transfer of data, money, and goods between banks, consumers, retailers, distributors, and manufacturers.
What is B2B Ecommerce?
B2B (Business to Business) ecommerce is the online sale of goods and services between businesses. The focus of a B2B ecommerce model is for transactions to occur between manufacturers and distributors, rather than directly with the end user of a product.
Benefits of B2B Ecommerce in the Manufacturing and Distribution Industry
B2C (Business to Consumer) ecommerce models have been the most prevalent model for online shopping experiences for years. However, in recent years, B2B has been one of the fastest growing online segments for new and established businesses alike, and for good reason. There are plenty of benefits for B2B businesses to have ecommerce presence, especially in manufacturing and distribution. Here are a few of the more important benefits for B2B companies that sell online.
- Market Reach
Ecommerce helps businesses overcome geographic constraints to reach a wider range of customers with a full catalog of products and services. While nothing can completely replace sales teams and hard copy catalogs, ecommerce offers an additional benefit of providing 24/7 access for a global audience that sales and marketing staff may otherwise not always be able to reach. - Increased Efficiency
Efficiencies are gained for both the buyer and seller through online shopping. The customer is able to locate what they need, when they need it, often without assistance from the seller. In turn, this requires fewer customer service resources from the seller, which reduces overhead. With reduced overhead, cost savings may be passed on to the customer in the form of lower priced goods and services. - Customer Empowerment
Online shopping empowers customers by allowing the customer to take more control of their customer journey. It provides the customer with a variety of tools that enables the customer to access the products they need, view order history, retrieve documentation, and more without the need to contact customer service. - Convenience
Perhaps the largest benefit to ecommerce in the B2B space is that it allows businesses to work with their suppliers on their own schedule. It enables them to engage with their suppliers across multiple devices, giving them the power to buy what they need, when they need it, regardless of where they are.
How Huyett Helps
Huyett.com gives you access to the fasteners you need, when you need them. Registration is simple, giving you access to view price breaks and order history. You also get to take advantage of free COCs, MTRs, and 5% off all web orders of $100*. Even without registering, you get access to a wide range of resources in our knowledge vault covering frequently asked questions, white papers, case studies, and much more. Huyett.com is your source for purchasing what you need to keep your business running.
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