How E-commerce is transforming the B2B Sector ?

 2020 may be watershed in the entire history of e-commerce due to the Covid-19 pandemic. The year leading up to now has witnessed growth in online marketplaces and delivery services. The pandemic prompted a race to migrate operations online and, companies that invested in digitalization had the upper hand.  

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Owing to growth in e-commerce, B2B business relationships have started to undergo speedy transformation. B2B sector relied on face-to-face interactions to gain and retain clients. It also has a complex and lengthier sales cycle. The orders are customized, placed in higher volumes, and involve bigger transactions as compared to B2C. Despite all the difference, B2B customers expect the same user experience as B2C customers, viz. user-friendly platform, ease of access, quick check out, and secure transactions. 

Artificial Intelligence (AI), Internet of Things (IoT), and Data Analytics have been used in commercial ecosystem. In the recent times, these technologies have been integrated into production and supply chains. B2B companies have also been able to build resilience by integration of platforms and services rather than the previous linear approach. 

However, for the successful transition, a B2B business has to overcome some key challenges. 

1. Infrastructure 

Availability of infrastructure determines which business and regions will better adapt to the transformation and possibly emerge as leaders. 

2. Logistics 

The pace of orders placed in a B2B environment is faster via e-commerce. Hence, the business must be equipped to keep up with the logistical requirements. The deliveries must be speedy to encourage customer adoption. 

3. Building trust in integrity of the e-commerce system 

This might be the most important task of all. For a B2B business that hasn’t operated on an e-commerce platform, building trust of its clients in the integrity of the system is very crucial. 

The on-going pandemic has fast-tracked digital transformation creating a golden opportunity for B2B businesses. The ball is now in the court of B2B businesses to make the most of it. Lucky Group is a leading name in Dubai scrap trading, a trusted name amongst the varied recycling companies in UAE. It is also one of the most prominent suppliers of recycled metal to businesses in the country. It has committed to digitizing their models and deriving more competitive advantage than their slower-moving peers.

Disclaimer: This article(s) has been prepared solely for information purpose, using publicly-accessible sources that are believed to be accurate and reliable at the time of publishing. LUCKY GROUP accepts no liability whatsoever for any loss or damage resulting from the use of information, images or opinions expressed in the report. LUCKY GROUP does not give warranty of any kind regarding the completeness, accuracy and reliability of the information included in the article(s).