B2B Procurement Trends to keep you updated
Past few years have seen exceptional growth in the e-marketplace. Procurement has opened new parkways and made it essential for companies to work on profits and consumer engagement. It has also helped improve operational efficiency while also saving a significant amount of money. But due to the dynamic domain, one needs to keep in touch with all the latest trends to ace procurement to the best of its capability.
INCREASE OF B2B MARKETPLACES
The online marketplace has been long dominated by B2C e-commerce websites. They are responsible for more than 50% of global online retail sales usually. However, the last year has seen a rise in the B2B e-commerce marketplace. As the primary demographic of online purchasing shifts to millennials, they are bringing a change in the procurement process.
EXTENDING WEB PRESENCE
The buyers mostly use all online platforms and prefer eCommerce that is available wherever they are. Meaning you must be available on all sorts of devices not just through your websites. Your brand must be accessible on-the-go as well. So many people these days purchase while commuting to save time, a presence on smartphone or a tablet will mean more sales as it will increase your visibility to the audience.
Omnichannel selling means building a strong physical and digital presence. This means that customers could use any of your shopping platforms, and the experience would be the same. The user experience must be consistent throughout all your shopping platforms, as it increases customer satisfaction further increasing your sales in future.
Custome s personalisation could be important in making the user's experience on your platform easier and memorable. When an experience is customised according to a customer it is easier for them to navigate to products they need and avoid any unnecessary suggestions that may pop up.
Chatbots are one of the growing features being incorporated in almost all types of businesses. Offering a chatbot feature on your website gives an additional helpful feature for the customer to look for what they are searching. Chatbots mainly ease the customer's navigation on your website by providing necessary details asked by the user. The Chatbots use conversational user interfaces powered by the AI to help discuss buyer queries in a better way.
Supply Street is a one-stop industrial procurement platform which helps in making a smooth, hassle-free procurement for the manufacturers and the procurement officers. We provide customised solutions to help effective purchasing and constantly attempt to improve our customer’s online procuring experience.