Why B2B Salespeople Shouldn't Ignore the Booming E-commerce Market

Retail is the key driver of the US economy.

As the e-commerce industry continues to experience unprecedented growth, fueled by the pandemic and substantial investments, B2B salespeople must not overlook the opportunities that lie within this thriving sector. With a diverse range of e-commerce businesses and innovative sales enablement tools, targeting e-commerce customers has never been easier or more promising. 

In this article, we'll explore what the e-commerce boom has taught us about the way people like to engage and purchase and discuss potential opportunities for you to capitalize on the e-commerce market itself.

The E-commerce Explosion: Why Salespeople Should Take Notice

The e-commerce sector has experienced rapid growth since the pandemic, and it shows no signs of slowing down. With massive investments pouring into the industry, e-commerce is becoming a dominant force in the global economy. Our research shows that retail, with e-commerce and digital retail leading the charge, was one of the sectors that saw the biggest growth since the pandemic. BairesDev’s own e-commerce clientele grew by 150% between 2021 and 2022.

Studies also show that since 2020, customer intent to purchase through e-commerce channels has increased by 60% across all categories from pre-pandemic levels.

There are numerous e-commerce businesses of various sizes and niches, ranging from small online stores to large retail giants. And the sales teams that recognize their best opportunities for engaging in this flourishing market will be the ones to drastically drive sales and expand their reach.

The E-commerce Landscape: A Diverse and Growing Market

There are numerous e-commerce businesses of various sizes and niches, ranging from small online stores to large retail giants.

Using sales enablement tools can make it easy for salespeople to target these businesses with precise data. In fact, organizations that lead with data are 23% more likely to acquire customers, according to McKinsey Global Institute. They are also six times as likely to retain customers and 19 times more likely to be profitable. It can be as simple as using a database to search for specific e-commerce technologies such as Shopify, Magento, osCommerce, VTEX, and WooCommerce.

With such a diverse and growing market, sales professionals have ample opportunities to cater to a wide range of e-commerce customers and unlock new revenue streams.

Other Things Salespeople Should Know About the E-commerce Boom!

1. Mobile Business is Accelerating 

In today's digital landscape, mobile devices are playing an increasingly significant role in e-commerce. The use of smartphones and tablets for online shopping has witnessed a remarkable surge, with mobile commerce usage being particularly high in regions like Southeast Asia. According to a report by Google, mobile devices now account for 60% of all e-commerce traffic, while desktops account for 40%. This highlights the importance for businesses to prioritize mobile optimization, considering that customers are now more open to completing the entire purchasing process on their mobile devices. To maximize sales potential and enhance the user experience, businesses should consider investing in iOS and Android engineers to develop mobile apps that boost conversion rates and cater to the growing number of customers relying on mobile devices for their online shopping needs.

2. People Crave Omnichannel Experiences  

In today's digital age, customers increasingly crave seamless and integrated shopping experiences across multiple channels. According to a survey by Harvard Business Review, 73% of customers use multiple channels during their shopping journey. Adopting an omnichannel approach has become crucial for businesses to meet customer expectations and enhance engagement.

Furthermore, a report by BigCommerce reveals that businesses implementing omnichannel strategies experience a 91% higher year-over-year increase in customer retention compared to those that don't. By providing a consistent and interconnected experience across online and offline touchpoints, businesses can cater to customer preferences and deliver a more personalized and satisfying shopping journey.

3. There are Many Opportunities for Collaboration and Partnerships

Even if e-commerce businesses aren't your primary target customers, there are still numerous ways to collaborate and create mutually beneficial partnerships. For example, you can explore influencer deals, cross-promotions with their customer lists, co-branding efforts, and other creative marketing initiatives.

By reaching out to e-commerce businesses and identifying potential opportunities for collaboration, you can expand your network, gain access to new audiences, and ultimately drive more sales.

4. Learn More About the E-commerce Sector and Harness Its Power for Sales Growth

To better understand the e-commerce market and how to capitalize on its potential, it's essential to stay informed and educated on industry trends and insights. The team at BairesDev has put together an informative whitepaper that can help sales professionals gain a deeper understanding of the e-commerce landscape and identify strategic opportunities for collaboration and partnership. Some trends to look out for are personalization, the push for frictionless e-commerce experiences, and using data to supercharge decision-making. By leveraging this knowledge, you can unlock the sales potential within the booming e-commerce market and drive business growth.

Conclusion

As the e-commerce industry continues to expand and evolve, B2B salespeople must stay informed and seize the opportunities that lie within this lucrative market. By targeting e-commerce customers, exploring creative partnerships, and staying up-to-date with industry insights, sales professionals can unlock new revenue streams and drive sales success in the ever-growing e-commerce landscape.

Interested in harnessing the power of the e-commerce sector for your sales growth? Download BairesDev's whitepaper to gain valuable insights into the e-commerce market and learn how to leverage it for maximum sales potential. With over a decade of experience in software development and digital transformation, BairesDev is a trusted partner for companies looking to accelerate their growth. Click here to download the whitepaper now!