Wholesalers are always looking for new and better ways to connect with their customers and sell their products. B2b e-commerce trends provide many new tools that can substantially help with wholesale growth in many aspects. These digital tools are presenting new challenges too. The line between digital and physical commerce is closing tightly.
Growth in the global marketplace has slowed incredibly. This is mostly due to e-commerce companies like Amazon who have dominated the United States markets. Manufacturers and wholesalers are bypassing the retailers and selling directly to customers as a way to keep up with demands. This has emerged as a method to completely control the customer relationship. Selling direct has its benefits including, personalized products, you own the relationship, and data tracking is easier.
Offering personalized products requires an in depth knowledge of customer demands. This correlates directly to wholesale business relationships. While sales growth presents many challenges, wholesalers are witnessing a new landscape in their marketplace. E-commerce trends are constantly changing and improving the way wholesalers connect with customers.
B2B Automation and the Future of Wholesale
Following the emergence of e-commerce, wholesale adaptation and growth requires a lot of research in a new territory. This creates an environment that produces competition when it comes to b2b marketing. What is driving commerce in the b2b industry? The customer drives sales. This requires a shift to a completely customer-focused approach. A great wholesale shopping experience comes from not only being progressive, but having the digital tools that can provide conversions.
Automation of business operations can provide better results and increase productivity in wholesale business. Larger companies in Asia, and particularly Amazon in the United States, have taken automation to new levels. E-commerce automation reduces the amount of obstacles that can prevent development. A lot of this change comes from the warehouses. When it comes to a warehouse, you can robotically stock and automate daily tasks that are time-consuming.
There are digital platforms that allow wholesalers to automate any task. Daily tasks such as reporting, inventory management, and order management can be tracked and collected online now. Cloud-based systems can integrate with your existing methods to reduce errors and allow you to keep up with customer demands. B2b platforms are the future of the wholesale marketplace.
The Advancement of Wholesale Advertising
The wholesale market is just beginning to tap into a well of new advertising methods. B2b customers aren’t just found at trade shows anymore. This strategy of making new business connections is watered down. It doesn’t make sense with the incredible changes surrounding e-commerce. Advertising on new platforms such as smart TVs, mobile apps, and social media provide multi-channel opportunities to grab consumer attention.
The b2b marketplace is adopting the methods by which direct-to-consumer sellers operate. Exchanging commerce for an experience is what makes this a new and exciting avenue for wholesale business relationships. As a result, consumer expectations are directly aligned with fulfillment expectations. B2b brands are meeting these expectations by diligently setting a free shipping offer for their customers and other personalized experiences. Wholesale marketing has evolved into highly personalized advertising.
One way b2b marketers are able to reach their customers in larger numbers is through search results online. Optimizing search results is a way that brands are tapping into their niche of customers. As you’re able to select a specific demographic to target, you reach more of the people who will actually be interested in your products. This territory of wholesale marketing is uncharted. New trends are emerging every day. The most successful wholesale businesses are adapting to these changes. It’s essential for wholesale businesses to learn more about technology trends. As these trends become more relevant to the marketplace, customers will adapt too and expect more advanced advertising.
2020 and Beyond for E-Commerce Trends
Predictions about the future of wholesale are not set on a precise timeline. What we can provide correlations for are based on the changes we see in retail and commerce. Wholesale business is highly influenced by the changing marketplace too. The shift in the retail environment is creative and productive for wholesale business for a number of reasons. It is productive because it is providing more opportunities to increase sales and connect with customers directly. Customer expectations become a real device through which b2b marketers can develop strategies that work.
When it comes to meeting all of the developing b2b trends, you don’t really have to. What wholesale customers care about is that you deliver a valuable customer experience. Offline interactions, phone calls, or an online customer experience are all forms of contact that provide ways to connect.
E-commerce is emerging and dominating the marketplace. As a result, an online customer experience through multiple channels is where the focus of wholesale commerce is for the future. Wholesale buyers are connected through digital channels now. This has created a boom in sales for wholesale e-commerce. Voice purchasing is becoming one of the up and coming methods by which wholesale customers make purchases too. With features provided by Amazon like Alexa, a wholesale customer can simply speak into a device and ask for the products they need. This allows for an entirely new platform to advertise wholesale products on.
More importantly, digital sales and digital marketing are also creating a shopping experience that is eco-friendly. No more spending time and money on paper and wasteful materials. Trade shows and printing catalogs are a view of the past. This is a unique opportunity for wholesalers to focus on the parts of running a business that really matter, like developing business relationships.
Being Prepared for Multichannel Sales
A majority of wholesalers are unprepared to sell their products on multiple channels. There is a huge advantage to evolving your business operations to meet modern purchasing standards. E-commerce provides customers with the means to purchase products in a variety of ways.
If you’re looking to grow your wholesale business, then adapting to multiple channels is a great strategy to put into effect. In addition, if you keep up with b2b trends you will remain ahead of your competition in the long haul. Wholesale buyers have become used to the convenience of multichannel sales. Advance your technology to sell your products progressively and you’ll find your wholesale customers more satisfied.
Sustainable Wholesale E-Commerce Trends
Directly from the supply chain to the customer, eco-friendly options for wholesale are emerging. Sustainability is fast becoming a year-round priority. Expediting fulfillment, reducing shipping costs, and reducing greenhouse gas emissions are all ways to make wholesale business sustainable. A lot of wholesale companies are taking part in zero-waste packaging. Zero-waste packaging is the process by which all materials are used and recycled so there is no waste. No packaging is burned or buried. During this process all items are recovered. Minimalist packaging is also another method manufacturers are packaging their products.
Mobile retail experiences provide an effective method by which customers can connect and discover sustainable trends. This sustainable e-commerce allows for more room to grow and develop wholesale strategies. As you’re adapting your wholesale business to e-commerce, it is important to keep these customer experiences in mind.
Exponential growth for the b2b marketplace happens through the holiday season. This period of growth is a great opportunity to practice sustainable business trends. When it comes to new marketing methods, you have access to an entire collection of digital tools. E-commerce allows wholesale brands to continue running a successful business, but more efficiently.
Customers are also becoming aware of sustainability as they make their buying-decisions. This new era of wholesale customers are more attracted to brands that are actively making efforts to prevent waste. An effort to be eco-friendly can be as little as changing packaging materials you use for your wholesale products. But, letting your customers know about your sustainable efforts can go a long way for brand loyalty and future success too.
Inventory System Management
Wholesale businesses tend to find the bulk of their challenges in the warehouse. A typical warehouse will see products being out-of-stock or overstocked. This problem is easily avoidable with an inventory management system. E-commerce trends and tools make it so much easier to mitigate these problems. The number one solution for these inventory problems is to track and organize products as they are stored, purchased, and shipped.
A handful of inventory management systems are available specifically for the b2b marketplace. Each year new features and digital conveniences are emerging. B2b platforms are the trend right now and for a good reason. Basically, they actually work to eliminate major wholesale challenges. Some of these platforms include other features you can use to manage business operations. It’s helpful to choose the right kind of system to ensure your products are accounted for properly.
Transparency Is the Key to Building Relationships
By all means, direct communication tools are becoming popular for wholesale businesses. Social media is one of the major communication tools that can encourage clarity between your customers and you. Increasing engagement directly with your customers can solve a lot of problems before they even happen.
Notwithstanding, there should always be a way for customers and potential customers to connect with you. Accessibility creates the groundwork for trust in business relationships. The easier it is for buyers to contact you, the more likely they are to reach out. Regardless, as your business starts to grow to scale, these connections will help with brand awareness.
However, the communication tools you have should be able to integrate with the other operational systems you have in place. E-commerce trends and tools allow these integrations to be simple and quick. The opportunity to contact customers is huge when it comes to increasing sales and trust in your wholesale brand. With the correct tools, you can start to build stronger relationships immediately. Strong business relationships will help to promote brand loyalty too.
Digital Catalog Display of Products
As e-commerce platforms evolve in 2020, they present the challenge of displaying full product catalogs for wholesalers. It is essential to maintain an updated product catalog. Above all, your customers want to see everything you have to offer. Online product visibility makes it more likely that they will find exactly what they’re looking for. This can be a major obstacle if your wholesale site cannot support all of your products. Without a doubt, websites built for wholesalers make it easier to update, delete, and highlight relevant products.
Social Media Wholesale Strategy
Regardless, b2b sellers are becoming very active on social media as a way to connect with their customers and promote their wholesale brand. Wholesale brands that leverage social media through highly targeted advertising will activate new users and engage with customers in new markets. Online retailers should certainly look to the future and prepare their products to be displayed on social media rather than centralizing them on their website.
As a result, this flexibility provides the most value for wholesalers in the long run. A diverse set of online channels must be considered when deploying products. Mastering this diversity is the key to success on every b2b platform. Wholesale companies should not ignore innovations. Instead, they should test out these native buying options as they become available. Social media advertising is a highly effective way to target relevant customers too.
More importantly, wholesale businesses have a lot to look forward to when it comes to e-commerce trends and changes. Advances in technology are only increasing interactions between wholesale brands and their customers. The free flow of engagement and information creates a better environment for product development. It also directly improves customer service. Researching, ordering, billing, and shipping are more seamless than ever with advancements in technology.
Comparatively, some wholesalers are reluctant to adapt to these new digital trends, but that is a clear misstep. Adapting to wholesale e-commerce trends can only improve upon customer relationships, wholesale marketing strategies, brand awareness, and day-to-day operations. Changes in e-commerce are slowing down as more wholesale businesses integrate with different platforms and social media. However, the opportunity for wholesale growth is the largest it has ever been. While retailers are feeling the sting of digital commerce, the future is very bright for the b2b marketplace.
Learn how SeeBiz can grow your wholesale business to the next level at https://www.seebiz.com/