Mirakl, SAP, WBR Insights, and B2B Online report dives into the present and future of B2B commerce
Paris, Boston, London, Munich – April 25, 2019 – Mirakl, the leading global marketplace solutions provider, released a report with SAP, WBR Insights, and the B2B Online 2019 event series today titled: “B2B Value Chains: Who Will Own the Experience Economy?” The report takes a deep dive into how top B2B multinational companies are reimagining B2B digital commerce and the role of marketplaces in the age of Amazon. It found that 66% of companies are planning to build a larger ecosystem of third-party partners and products to offer their customers more and improve customer experience. In addition, 50% of manufacturers are planning to launch an online marketplace and invite channel partners to be sellers to avoid channel conflict.
B2B digital commerce hit over $1 trillion in the United States in 2018, leading Forrester to predict that by 2023 the US B2B digital commerce market will be $1.840 trillion. In anticipation of the dramatic growth, manufacturers and distributors are getting ready to capture their piece of the pie while better serving customers. To determine the state of B2B digital commerce maturity and plans for growth, researchers interviewed 240 B2B enterprise manufacturers and distributors across 8 industries: Life sciences, automotive, high tech, food, industrial, energy & utilities, aerospace & defense, and oil & gas. Specific topics explored were digital maturity, channel conflict concerns, and how these businesses plan to grow by using online marketplaces.
The report concluded that digital commerce maturity is generally low among manufacturers and there’s still a fear of channel conflict, which prohibits many companies from selling direct. However, for B2B businesses that are slow to reimagine digital commerce, the consequences are clear—the inability to direct relationships, lack of access to customer data, and continued low conversions through “dealer locator” experiences. As a result, many B2B manufacturers are planning to grow their partner ecosystems to become more customer-centric and improve their customer experience.
Other key findings include:
- In two years, 46% of B2B companies will employ cloud-based technologies for 61% – 100% of their digital commerce solutions
- 85% of companies claim most (61% – 80%) if not all (81% – 100%) digital commerce buyers will buy directly from manufacturers in the next two years.
- To address channel conflict concerns, 56% of distributors are planning to add more products to their range to become more competitive
“B2B companies know that today’s customers have greater expectations for online buying and are seeking an Amazon-like buying experience,” said Adrien Nussenbaum, CEO of Mirakl. “Manufacturers and distributors are working hard to create a battle plan so they can better compete. This report provides valuable insights, from a wide range of perspectives, into the challenges and opportunities for B2B companies so they can make more informed decisions moving forward.”
You can download the full report here or stop by Mirakl’s booth #301 at B2B Online starting April 29th for a copy.
Additionally, Mirakl’s Co-Founder & CEO Adrien Nussenbaum will be moderating a panel at B2B Online on “Driving Disruption, Harnessing Platform Models to Capitalize on Growth.” During this discussion, platform leaders will share success stories on how they’ve driven their business forward by leveraging the platform and marketplace business models. Panelists include:
- Toyota Material Handling USA, Inc: Nick Ostergaard, Manager, eCommerce Sales & Operations and Marketing Systems
- Siemens AG: Joachim Leistner-Weisgerber, Commercial Head of Spare Parts Rolling Stock
- Hewlett Packard Enterprise: Christopher Shen, Senior eCommerce Manager
The panel will take place on April 29th from 11:25 – 11:55am. For more information, visit: https://b2bmarketing.wbresearch.com/
Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more, and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace experts who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling, and Walmart Mexico. For more information: www.mirakl.com