Consumer behaviors are changing even in traditionally static industries such as construction or industrial suppliers. Many are now seeing the benefits of growing their presence online.
If you haven’t already adapted your industrial business for the digital age, now is the time to take advantage of the opportunities that come with digitalization and eCommerce.
Industries are seeing the benefits of e-commerce.
Consumers expect to be able to find businesses online, and increasing numbers of customers prefer to make inquiries and purchases online.
Most businesses recognize the value of e-commerce. However, those industries that haven’t typically utilized it are now seeing the benefits and moving towards an e-commerce model of doing business. Even industrial suppliers, such as PPE equipment suppliers and enterprises specializing in heavy construction equipment, are taking the step.
Why are industries moving to e-commerce?
There are multiple reasons why these industries are making a move to e-commerce. Here are some of the top factors influencing the move.
Big suppliers & manufacturers are leading the way.
E-commerce sales are growing yearly, and the industry’s biggest suppliers and manufacturers are leading the way. For example, between 2010 and 2018, the value of online sales in the construction industry rose by 11.5%.
With the biggest industrial suppliers focusing on the growth of their e-commerce channels, others are being inspired to follow.
A change in buyers & buying behavior
Increasing numbers of B2B buyers are millennials. These younger buyers prefer to research and buy online, which applies to their business purchases.
Younger buyers have grown up online and will judge a business on its online presence in the way that older customers would once have judged a storefront.
Additionally, millennials are more likely to read reviews than consumers in other age groups, so gathering positive reviews and displaying them where potential customers can easily view them is now more critical.
This is particularly true in high-value industries such as the purchase of heavy equipment, where reputation is just as crucial as product prices. E-commerce offers these suppliers the opportunity to build up an online brand to showcase their trusted reputation.
Continuing from the above point, buyer preferences are changing. People are increasingly using their phones to browse, research, and make purchases, both in their personal and business lives. As a result, companies that don’t have a fast, responsive, mobile-friendly website lose out on potential sales or inquiries.
The Covid-19 pandemic forced many businesses to address their lack of online presence and, at the same time, altered consumer behaviors and expectations. However, the companies that have survived the pandemic have adapted to meet their customers’ changing needs.
Historically, industrial suppliers haven’t typically used e-commerce opportunities to their full advantage; however, many are now seeing the benefits of building an online presence and moving their industrial businesses to e-commerce.