Yet another industry research report indicates that B2B ecommerce is on the upswing. The findings focus on B2B ecommerce trends and artificial intelligence (AI) in B2B search. In that context, the authors identified a continuing shift as digital-first buyers increase in number.
However, the survey of 700 B2B organizations by site search applications provider Algolia also shows that AI is likely to play an increasing role in defining how B2B buyers engage online with sellers.
Survey findings on AI in B2B search
Among the report’s findings on trends in ecommerce sites and AI in B2B search:
- 69% of respondents identify scaling revenue and profitability as a core business goal for the year ahead, and over half (53%) aim to move revenue from in-person to ecommerce channels.
- B2B decision-makers indicate that 58% of their customers who opt for online channels buy frequently, making purchases through ecommerce portals at least once a week or more.
- 86% of respondents rank AI as a top focus of their search solution purchase initiatives.
- The study found that 46% of organizations will use AI to identify buyer personalization, followed by reducing manual labor and associated costs (42%) and improving the accuracy and relevance of product discovery results (38%).
- About half (45%) of respondents believe that search will help them stand out in an increasingly competitive market. In addition, 41% say it will help them meet growing customer expectations. 34% want to leverage search to expand their online presence and increase ecommerce sales.
- 43% plan to leverage search tools and applications.
What the report means for AI in B2B search
“We’ve entered a pivotal year in the evolution of the B2B ecommerce landscape,” says Erin Smith, vice president of the technology practice at research firm Escalent, which worked on the study in the new B2B Ecommerce Site Search Trends report.
Algolia sees an opportunity in those changes as it seeks to grow.
“In today’s digital age, B2B buyers increasingly expect a superior experience that rivals the personalization they’ve come to know and love with in-person sales teams,” said John Stewart, vice president, corporate communications and brand at Algolia. “As a result, 86% of B2B ecommerce organizations are ready to embrace innovative AI search platforms that truly understand buyer intent to successfully increase online market share and stand out in a fiercely competitive industry.”
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