The eCommerce sector has experienced tremendous growth over the past few years, and this trend doesn’t seem like it will be stopping any time soon. For instance, Forrester Research projects that the U.S. B2B eCommerce industry will reach $1.2 trillion over the next five years. Competition within the space is intense with the rise of various protocols, all hoping to win over clients. Any platform hoping to win over a B2B buyer has to ensure they are delivering a seamless and customized online shopping experience with a realm of automation and modern tools. The key to winning within the space lies in delivering an all in one B2B eCommerce platform that serves as the perfect self-serve option for B2B buyers.
B2B eCommerce platforms are software-based solutions that facilitate online transactions between businesses. A great platform in this sense should help present the company well and provide the required information to increase B2B sales. B2B eCommerce solutions should be flexible to achieve this goal, providing B2B buyers with a personalized and customizable shopping experience. They should be scalable to cater to future needs, reliable through PCI compliance and user data protection, and, most importantly, easy to use. The software should allow the users to optimize their offerings and increase conversions with ease.
Virto Commerce is an excellent example of such a platform, an open-source B2B eCommerce platform that offers complex digital commerce solutions for B2B, B2C, and D2C businesses, marketplaces, and SaaS eCommerce platforms.
The rise of open-source protocols such as Virto Commerce is one of the latest trends within the eCommerce market. The section below will highlight a few more trends for the sector moving into 2022.
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Growing Volume Of Voice Search
Today, a growing number of individuals rely on voice searches compared to having to type out requests using smartphones and even smart speakers. These individuals are increasingly relying on voice assistants to complete daily tasks. A recent study by Loop Ventures forecasts that 75% of U.S. households will own a smart speaker by 2025. As more homes adopt such devices, more consumers will shift towards using voice search to shop online, order food, and organize their lives. The rise of voice search creates an opportunity for e-commerce businesses in terms of keywords and content.
AI Is Helping Shops Learn About Shoppers
Artificial intelligence and machine learning make it possible for customers to have automated, personalized shopping experiences since AI is constantly collecting data on how customers shop, what they buy, and what they are looking for in a product or service. According to Ron Smith, Editor in Chief, The Digital Outdoor, “People want to know that brands care about them, and AI will be programmed accordingly. We have currently seen the opposite behavior on social media, where AIs learn from humans’ more negative remarks, but it’s highly likely that consumers will crave the impact. If bots can learn how to form sentences to convey an emotion, companies can soon teach them to offer comfort and products based on customers’ moods.”
Big Data Is Playing A Role In Creating Personalized Experiences
Most people are aware that e-commerce sites are collecting personal data. There are mixed feelings on how big data is being used and how it affects the personalized shopping experience. One conversion rate optimization expert believes there shouldn’t be much worry. As big tech giants continue to expand and bring more services in-house, personalization will eventually make its way to the internet of things. On top of seeing suggestions on search engines and shopping platforms, you will see them on your thermostats and doorbell cameras. Fortunately, with some of the legislation being enacted, one will be able to opt-out of it.
Headless And API-Driven Ecommerce Allow For Continued Innovation
Headless commerce offers a solution that allows an online store’s e-commerce platform to be completely decoupled from the frontend presentation layer. More e-commerce businesses are adopting this model due to its flexibility on the backend, plus the added SEO, content marketing, and digital experience capabilities.
All in all, the B2B sector is getting bigger despite fears that it would go out of style, thanks in part to the increase of millennial B2B buyers. This group wants to easily research their needs and related products without conversing with salespeople.