B2B e-commerce strategy trends for 2024

Shopify’s latest report reveals significant changes in wholesale practices, and its 2024 B2B e-commerce strategy drives unprecedented growth.

Adapting Your B2B E-Commerce Strategy to Millennial Buyers

By 2025, millennials will dominate B2B purchasing, making up 70% of buyers. This tech-savvy generation expects seamless, personalized experiences. As a result, 85% of B2B companies now prioritize centralized marketplaces.

Development of digital wholesale

The B2B e-commerce market, valued at $7.7 trillion, dwarfs its B2C counterpart. This staggering figure underscores the potential for companies embracing digital transformation. Furthermore, B2B online sales are expected to reach 80% by 2025, up from 50% today.

Successful B2B e-commerce strategies in 2024 will focus on creating intuitive interfaces and offering personalized recommendations. Additionally, companies are exploring hybrid models, combining wholesale, B2B2C, and B2C2B approaches to maximize reach.

Brooklinen, a popular bedding brand, is an example of this trend. The company uses Shopify to offer a streamlined wholesale experience, taking advantage of higher order volumes and lower customer acquisition costs.

Canadian retailers need to prioritize their online presence to remain competitive. This includes optimizing for mobile and investing in robust e-commerce platforms. Additionally, offering features like same-day shipping and flexible payment options can attract and retain customers.

As B2B commerce evolves, the lines between business and consumer experiences are blurring. Brands like Dermalogica are leading the way, creating engaging B2B sites that offer more than just transactions. The company’s approach includes interactive product testing and educational workshops tailored to the practical preferences of today’s buyers.