Brandastic Expanding Nationally to Reach Trillion Dollar Ecommerce Market
What is one of the most surprising trends in ecommerce today? The incredible growth of the B2B ecommerce market.
As a digital agency, Brandastic is always striving to meet the market needs and demands as they arise. This trend of growth in the B2B ecommerce space is an incredible change in the way businesses operate.
Current Growth Statistics in B2B Ecommerce
Market Research firm Forrester projects that business-to-business (B2B) online commerce will reach $954 billion in 2018 and surpass $1 trillion next year. This figure is more than twice the volume of U.S. retail sales online. Forrester calls this market “employee-initiated” commerce conducted on suppliers’ websites. Frost & Sullivan expects that B2B ecommerce will hit $6.6 trillion by 2020.
B2B online commerce accounts for more than 13% of all B2B sales within the United States (up from the $889 billion in sales by the end of last year). 57% of B2B executives said their top technology need for investment was an online platform.
What is driving the shift?
The B2B Buyer is Changing
Convenience and generational changes are causing the shift to online channels. In 2015, Google discovered that close to half of B2B buyers are Millennials, nearly double the number from 2012. As the typical B2B buyer changes, the sales process does too.
Where Baby Boomers and Gen X buyers may prefer the face-to-face experience that a sales rep can provide, Millennials expect that same personalized experience through streamlined, digital channels. This leaves merchants to meet the modern B2B buyer’s needs, without much available guidance.
Meeting the demands of the B2B Market
Brandastic is an Orange County Marketing agency based in Costa Mesa, California. We have won design awards, and are a top-rated Market Leader in Magento and Shopify Development in Southern California. During the past 8 years, the team has grown to over 20 team members and expanded into eCommerce, web development and search engine optimization working with larger brands.
Our company is striving to meet the needs of the market pre-emptively and to offer better support and service for B2B online companies.
President Justin Nassie is excited for the potential value that the company can offer:
“We have seen tremendous growth in ecommerce during the past 5 years and it’s only going to increase in the next 5 years. We are looking to be positioned to have US-based developers that can tackle projects as they arrive. Most agencies end up outsourcing their teams overseas and are slower in response time. The Brandastic team can adjust and take care of needs within hours, giving our clients a true advantage.”
The goal of Brandastic is to create a partnership with clients and that reduces worries and lag time. The focus is to increase the availability of B2B services for web development, digital marketing, and SEO.