B2B organizations want to increase revenue through e-commerce

With the year now halfway behind us, manufacturers and distributors have several priorities on their minds. And one of them is e-commerce, according to a survey of 700 manufacturers and distributors in North America and Europe conducted by website search app developer Algolia.

For 69% of B2B organizations, scaling revenue and operations is a top priority. Another priority, identified by 53%, is prioritizing moving revenue from in-person channels to e-commerce.

Despite the focus on e-commerce, manufacturers and distributors reported that 74% of revenue still comes from offline channels, with only 26% coming from online channels. This indicates a huge opportunity to gain experience not only in e-commerce revenue but also across the business, according to the study.

B2B manufacturers and distributors want to increase revenue through e-commerce

“While these organizations currently earn less from online channels, these investments are intended to reverse this trend and maximize online revenue potential. B2B companies that already have a solid e-commerce experience are now generating more revenue through online interactions,” Algolia says.

Other findings include:

When customers place orders online, 61% of them include both high-value and low-value items.
58% of B2B buyers made purchases once a week or more via e-commerce portals, and 33% made e-commerce purchases several times a month. Only 9% made one purchase per month.
32% of manufacturers and distributors admit that their customers have difficulty finding products due to poor search functionality.
23% of respondents want to use a search engine to consolidate data and information from various sources.
28% of manufacturers and distributors see search as a primary way to go technology-intensive in their organizations.

“Responses across the board indicate that the top strategy for B2B organizations in 2024 is scaling revenue by shifting it to e-commerce channels,” the study found. “Many are already building their goals, with 48% having recently invested in e-commerce or prioritizing it for the coming year. Building on these investments, B2B organizations are looking to differentiate themselves in a competitive marketplace, reduce costs by simplifying and automating business processes, and increase profitability.”

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B2B manufacturers and distributors want to increase revenue through e-commerce

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