Peter Robertshaw, CMO

Peter has had a long career in the tech sector in range of roles from implementation project management and delivery, through product management and marketing. Prior to joining cloudBuy in 2015, Peter held UK or global marketing director roles at software companies of all sizes including SAP, SAS, IFS and Active Risk. Peter is a member of the General Council of BASDA, the UK business software trade association.

The 12 facts of e-commerce 2015

Dec 10, 2015

This year has seen cloudBuy redouble its efforts in bringing B2C simplicity to the more complex world of B2B e-commerce; and taking this concept around the world… and so, as 2015 draws to a close, it seemed natural for us to reflect on some of the interesting e-commerce facts and trends we’ve encountered in the UK, US and globally, to give us all something to reflect on over the holiday season and questions to consider.

Fact 1: The global B2B e-commerce market is set to reach $6.7 trillion (£4.5 trillion) by 2020. This will be double the expected size of the B2C online market. (Source: Frost & Sullivan)

What are the B2C trends we can learn from to ensure that our organizations seize the B2B opportunity?

Fact 2: The Top 10 retail e-commerce countries based on current size and future potential are in order: USA, China, UK, Japan, Germany, France, South Korea, Russia, Belgium, Australia. (Source: AT Kearney)

Fact 3: India provides a huge e-commerce growth opportunity as currently only 19% of the population use the Internet, compared to 87% in the USA (top) and 46% in China. (Source: PwC)

Consumers will increasingly expect the simplicity of their own B2C shopping experiences built into the B2B systems they use at work…

Fact 4: The UK hit its first £1 billion online shopping day on Black Friday 2015 (27th November 2015). In the US, Black Friday online sales hit $2.72 billion (£1.81 million). (Source: Ecommerce Insights)

Fact 5: Amazon UK sold 86 items per second on Black Friday 2015. Over 7.4 million orders were placed in 2015 up 40% on 2014. (Source: The Bookseller)

How can we bring lessons from the B2C world to the business to business experience – so that when employees return to work in the New Year, they don’t feel they have to say goodbye to easy-to-use procurement and return to inefficient workplace processes and systems?

It looks like we all increasingly need to bring mobile into B2B procurement processes – or frustrate our staff and lose out on opportunities…

Fact 6: One third of e-commerce sales are now happening on mobile devices rather than a computer. This is up from just 12% in 2012. (Source: Shopify)

Fact 7: Research suggests UK retailers are missing out on £6.6 billion a year by not going mobile. 73% of consumers predict they will spend more on mobile this year and 15% now use their mobile phone as their primary shopping device. (Source: Econsultancy)

Fact 8: Men are more likely than women to make a purchase online via a mobile device. (Source: Business Insider)

The way we buy things is rapidly changing BUT certain business fundamentals remain – the importance of customer service and retention…

Fact 9: Customer service is still essential with 89% of shoppers saying they stopped buying from online stores after experiencing poor customer service. Some 86% are even prepared to pay up to 25% more for a better customer experience. (Source: RightNow)

Fact 10: Returning e-commerce customers are likely to spend nearly twice as much as brand new e-commerce customers. Average spending for new customers online is $24.50 (£16.35) compared to $52.50 (£35.03) for repeat customers. (Source: Business Philosophy)

In B2B e-commerce we’ll need to think hard about how we present our goods and services online. Are we supplying the right amount of information − images, technical specifications, discounts, tax, and delivery charges – to make it simple for B2B buyers to make a purchase? Certain B2C products provide similar online challenges and maybe we can learn from the retailers who get it right in such sectors…

Fact 11: One of the least popular things to buy online is furniture, with 50% of consumers saying they have never done so. (Source: Kerching)

And finally… a sales fulfilment ‘problem’ we’d all like to have…

Fact 12: Adele’s latest album ‘25’ is set to sell 7 million copies worldwide by the end of 2015, despite only being released on November 20th. (Source: Digital Music News)

cloudBuy wishes you a happy holiday season. Be sure to contact us for e-commerce advice to help make 2016 even more successful for your organization.