Many manufacturers are expanding their B2B ecommerce initiative, or launching an ecommerce site for their dealers, distributors, wholesalers and other businesses, or selling on Amazon Business or other B2B marketplaces and industry exchanges.
But many other product makers aren’t.
The 300 manufacturers listed and compared in the 2019 B2B Manufacturer 300 are all at various stages of developing B2B ecommerce, but there are several significant takeaways that demonstrate how far—and how successfully—U.S. manufacturers as a group are doing at selling online.
Relatively small but growing fast
Today, even though it’s the fastest-growing electronic sales channel, B2B ecommerce—defined as web sales that are processed on ecommerce sites or online marketplaces, and including log-in ecommerce portals—is still the smallest electronic channel for many manufacturers.
In 2018 ecommerce sales for manufacturers totaled $356.4 billion and increased 22.5% from $291.0 billion, based on estimates from B2BecNews.
Manufacturers’ B2B ecommerce sales grew nearly three times faster than the growth of all U.S. manufacturing sales, which totaled $6.028 trillion in 2018, up 7.6% from sales of $5.604 trillion in 2017, according to the U.S. Department of Commerce.
Last year B2B ecommerce sales accounted for about 5.9% of all sales from manufacturers, up from 5.2% in 2017.
For most manufacturers compared and listed in the 2019 B2B Manufacturer 300, ecommerce as a percentage of all sales remains relatively small.
Buyers’ demand for ecommerce
But the pace of how quickly manufacturers will roll out or expand B2B ecommerce will accelerate. That’s because more business buyers are demanding more ways to purchase business products and services online, and they are placing more orders on the ecommerce sites and through the web portals of manufacturers that are making the digital purchasing process easier, more convenient and personal.
The 92-page 2019 B2B Manufacturer 300 shows clearly the chasm that exists between the ecommerce leaders and followers. Only five of the manufacturers in the study are well on their way to becoming digital-first companies, with web-based sales making up more than 25% of total revenue. Conversely, for 57% of the 300 B2B manufacturers studied, ecommerce sales ranged between just 1% and 2% of total revenue. The remainder are scattered in-between2% and 25%.
The 2019 B2B Manufacturer Report contains the most comprehensive data and analysis to date on ecommerce performance of American B2B manufacturers, including:
- The online percentage of total sales of each of 300 representative B2B manufacturers.
- The B2B ecommerce leaders and followers in six markets—automotive, computers and office supplies, consumer goods, hardware/home furnishings, healthcare and industrial equipment.
- A detailed overview of B2B ecommerce development in U.S. manufacturing, including a dozen charts detailing key trends.
- How the B2B Manufacturer 300 companies compare on ecommerce in 16 primary product categories.
- Case studies showing best practices of top ecommerce performers in manufacturing, including Bosch Tool, Daimler Truck, GE Healthcare, Goodyear, Protolabs, and Stanley Black & Decker.
For more information on “2019 B2B Manufacturer 300 Report,” including how to purchase it, click here.Favorite