B2B E-Commerce Myths (You Must Know) | Busting Myths About B2B E-Commerce | #b2becommerce #online

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Today we are going to discuss “B2B E-Commerce Myths”

MYTH #1:
E-commerce is not for B2B :
1. Statists data suggests that the North American B2B e-commerce market will surpass $4,600 billion by 2025
2. Study from Mckinsey shows that about 18% of the B2B Industry's revenue is coming directly from e-commerce
3. Data from the U.S. Department of Commerce shows a growth of 15% in 2021 compared to 2020 in B2B e-commerce sales

MYTH #2:
Bulk buying does not happen online (Face2Face interaction is required).
A survey conducted by Oracle in 2022 says that Buyers are more than willing to spend substantial amounts through remote or online sales channels, with 77% of B2B customers willing to spend $50,000 or more.

MYTH #3
B2B Sales can be done only via marketplaces, and their own website does not get traction. There are various successful B2B e-Commerce brands in every country across the globe. We would suggest google "top B2B e-commerce companies" or "successful B2B e-Commerce brands" and you will find various B2B websites that are doing great business.

MYTH #4
Trust is not developed online for bulk transactions
Trust for online buying is built via various factors i.e. your website experience, your policies, your online reviews, your delivery timelines etc..


MYTH #5
Local presence is required for cross-border selling
1. A report by All The Research says that in 2019, the global cross-border e-commerce market was estimated to be worth USD 578.57 billion, and is expected to reach USD 2,248.57 billion by 2026, with an increased CAGR of 17.4%
2. A survey by Statista, cross-border e-commerce was responsible for 15% of global e-commerce shipments in 2016, and it’s expected to reach 22% in 2022.

So If you are a B2B brand stuck with your preconceived notions, then stop thinking and start acting. If you need assistance to start your B2B e-commerce business, you can contact YRC experts to help you get started

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___MUSIC USED___
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Thank You!

_Time_
0:00 - Intro
0:08 - Myth 1
0:33 - Myth 2
0:51 - Myth 3
1:11 - Myth 4
1:24 - Myth 5
1:51 - Conclusion