The B2B space is steadily moving to the digital world. This means companies that were earlier utilizing physical stores to conduct operations are now using digital channels to automate their operations and reduce manual dependencies. However, amidst this shift, many challenges still need to be addressed so that these businesses can thrive in the long run. In the blog post below, we will talk about the key challenging areas that are hindering the growth of the companies prevailing in the B2B online commerce space.
Additionally, you can consult a professional eCommerce development company that will understand the gaps and build a custom solution that can boost your business.

Existing Challenges in the B2B eCommerce

1. Maintaining B2B customer relationships
Maintaining stronger customer relationships is equally important in B2B eCommerce. 84% of B2B buyers say they will choose to make purchases from a supplier with whom they had a great relationship. Since the lifetime value of B2B customers is higher than that of B2C customers, it becomes more crucial to build a good relationship. However, transitioning offline B2B relationships to the digital mode can be a challenge. Additionally, building new relationships online can also be difficult since the competition is high, and B2B buyers usually find it challenging to trust new businesses.

2. Choosing the right B2B eCommerce platform
Technology plays a vital part in setting up a B2B eCommerce business. You need to identify your objectives and vision and consult an expert eCommerce development company that can help in selecting the right platform. Various B2B eCommerce platforms are available, including BigCommerce, Shopify, Adobe Commerce, and WooCommerce. However, the company you hire for your project will assess every platform's capacities and suggest the best platform that aligns with your business necessities.

3. Complex Procurement Process
Usually, every operation in the B2B model is complex, including the procurement process. Procurement refers to the process of acquiring products and services that support business operations such as raw materials. This process is often tightly controlled and includes multiple documents such as contracts, invoices, and purchase orders. On the other hand, B2B buyers expect flexibility in how they order and make payments. Hence, the absence of flexibility and automation in the procurement process becomes a challenge as the B2B buyers have no control over procurement processes.

4. Data and Cybersecurity
Another prevailing challenge in the B2B eCommerce space is limited security measures implemented in the online store. Since B2B operations are more complex, it require extra security measures to protect confidential data from unauthorized access. Even the market has witnessed that most customers, be it B2C or B2B, prefer to conduct transactions with an online store that is more secure and implements security in every aspect of their buying journey. Hence, it is important to invest in such B2B eCommerce solutions that can offer effective security measures and protect your data at all costs. A professional eCommerce development company will help in implementing security measures into your online store.

Also read 9 Tips to Choose the Right B2B eCommerce Platform

5. Operational Costs
While there are no rental costs required in the B2B eCommerce space, operational costs, such as inventory and shipping costs, are still a concern for businesses. Often, the product pricing and shipping costs are not properly calculated, which leads to losses on the seller’s end. Hence, when investing in B2B ecommerce website development, it is important to calculate and reflect the product pricing and shipping properly to ensure the price is competitive but also profitable for the B2B sellers.

6. Data Siloes and Omnichannel Limitations
Even though the operations are moved to the digital space, the data is still unsynced. In B2B eCommerce, the data is gathered and moved through multiple resources, and each of them is not in sync, which creates difficulties in tracking and analysis and complexity in operations management. Moreover, there are multiple data siloes that hinder the B2B business’s capabilities to adopt omnichannel selling strategies. This limits B2B business growth and opportunities to expand business reach

Conclusion

B2B eCommerce space is growing but still has some existing challenges that limits its growth. The challenges shared above in the blog needs to be addressed so that companies can scale their business and achieve success. Additionally, partner with a reliable eCommerce development company that can build a custom B2B online store for your business.