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PunchOut2Go Research Reveals COVID-19’s Impact on B2B Ecommerce

Understand the changing B2B ecommerce market with trends, data, and analysis, including COVID–19’s impact and increasing demand for eProcurement integration.

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b2b_pandemic_research_punchout2go.jpg2020 was a year of immense change for procurement and B2B sales professionals. COVID–19 disrupted supply chains across the world and shut down traditional sales channels. Manufacturers, distributors, and suppliers scrambled to deploy digital alternatives. Over a year into the pandemic, we can see just how much changed and what that means for B2B ecommerce’s future.

Key Findings From the 2021 U.S. B2B Ecommerce Market Report is a PunchOut2Go-sponsored examination of B2B ecommerce performance and trends over the last year.

The report includes an exclusive interview with PunchOut2Go CEO Brady Behrman. Brady explains why eProcurement integration and PunchOut catalogs are vital to B2B buyers adapting to the new sales environment.

Standout figures from the 2021 U.S. B2B Ecommerce Market Report include:

  • A 2.6% decline in total B2B sales,
  • A 10% increase in B2B ecommerce sales over the same period, and
  • A 15% increase in eProcurement sales, making it one of the fastest-growing digital sales channels.

It’s no surprise total B2B sales declined as the economy slowed. But B2B ecommerce sales bucked the trend as businesses transitioned from traditional sales to digital. Two-thirds of B2B businesses shifted focus to invest more in ecommerce, while 56% intend to improve user experiences with more sophisticated ecommerce features, including personalization and customization.

EProcurement Integration Helps Buyers Adapt to a Changing B2B Sales Landscape

In 2020, B2B sellers experienced greater demand for digital sales channels, including integration to support eProcurement sales with PunchOut catalogs and purchase order automation.

Brady Behrman explains why integration is a priority for buyers: “Particularly since COVID hit, B2B buyers want the simplicity of ecommerce and the efficiency of eProcurement integration. Consulting firm McKinsey recently reported that 97% of B2B decision-makers want to make purchases via an end-to-end digital self-service model.”

As B2B sellers embrace ecommerce as a primary sales channel and look to improve their digital sales experience, eProcurement integration should be a priority. In uncertain times, buyers want to reduce procurement costs and increase efficiency. EProcurement integration and automation are foundational to their efforts.

By integrating sellers’ ecommerce stores with their eProcurement platform, buyers gain greater control over spending, eliminate manual work and procurement errors, and rein in rogue spending. As Brady points out, B2B buyers increasingly use eProcurement integration capabilities as a non-negotiable factor in the vendor selection process.

Download Key Findings From the 2021 U.S. B2B Ecommerce Market Report for more detail about the impact of COVID–19 and changing buyer preferences on B2B ecommerce, including a detailed look at how several businesses used ecommerce to overcome the pandemic’s challenges.

To learn more about eProcurement integration and how to integrate your B2B ecommerce store with any eProcurement platform, complete the form below, and one of our integration professionals will contact you soon.

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