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Among B2B companies, close to 30% of leaders report similar revenue contributions from shopping events like Black Friday, according to McKinsey.

Ecommerce technology is emerging as a top priority for both B2B and B2C companies as the year draws to a close, according to a recent McKinsey & Co. survey of 500 companies across the U.S., Europe, and other regions. The survey highlights artificial intelligence (AI) as the leading technology on ecommerce radar.

20% of companies identified as “leaders” by McKinsey have made generative AI (gen AI) their number one priority in ecommerce—a stark contrast to less than 5% of “laggards,” another McKinsey classification. Leaders are also prepared to invest heavily in this area. Approximately 30% of B2B and B2C companies plan to allocate over 10% of their ecommerce budgets to gen AI within the next 12 months. Notably, more than 10% of these companies intend to dedicate over 25% of their ecommerce budgets to gen AI. By comparison, fewer than 10% of laggards are planning similar investments, according to McKinsey.

B2B companies are leading the charge into generative AI, committing a larger portion of their ecommerce budgets (11% to 25%) compared to their B2C counterparts. This focus aligns with a broader increase in B2B ecommerce budgets, as noted in McKinsey’s latest B2B Pulse Survey.

“Recognition of the generative AI opportunity underscores a more foundational prioritization of technology. In fact, leaders are twice as likely as laggards to make tech a top priority,” McKinsey states.

Key Survey Findings:

  • Marketplaces, Direct-to-Customer, and Social Commerce:
    • The gap between leaders and laggards is most pronounced in areas such as online marketplaces (60% of leaders versus 54% of laggards), direct-to-customer sites (56% versus 48%), and social commerce (63% versus 50%).
    • Among B2C leaders, 70% are increasing spending on social selling, compared to just 56% of laggards. For B2B companies, the respective figures are 55% for leaders and 47% for laggards.
  • Shopping and Purchasing Events:
    • Over 40% of leaders derive more than 10% of their annual ecommerce revenues from shopping events like Black Friday. In contrast, 25% of laggards do not participate in such events.
    • Among B2B companies, close to 30% of leaders report similar revenue contributions from shopping events.
    • Black Friday and the year-end holiday season are the most critical shopping events, followed by companies’ own shopping day promotions. Many companies plan to increase spending on these events over the next 12 months.
    • Almost half of all large consumer brands allocate over 10% of their ecommerce budgets to shopping day events. Similarly, 42% of small consumer companies and 30% of B2B companies make comparable investments.

As the focus on e-commerce technology intensifies, the adoption of generative AI and the expansion of capabilities in social commerce, direct-to-customer platforms, and marketplace development stand out as strategic priorities for market leaders, according to McKinsey.

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Sign up for a complimentary subscription to Digital Commerce 360 B2B News. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at mark@digitalcommerce360.com. Follow him on Twitter @markbrohan. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube.

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