Retail Trends

Top retail stats for October

Oct 19, 2021

This month we've focused our search for retail trends around the theme of B2B vs B2C. Here are the stats that caught our eye this month.

omnichannel-iconOmnichannel capabilities don’t yet match up to customer expectations

According to payment-by-instalment company Klarna, while 75% of retailers think their omnichannel capabilities are sophisticated, only half of their users agree.

This should be a red flag for both B2B and B2C businesses, for whom omnichannel capability is becoming increasingly vital for success. The figures suggest that retailers need to understand what their customers value in an omnichannel retail experience, before they invest in multi-channel sales solutions.

  

b2b-ecom-icon80% of B2B buyers will now do more purchasing online

According to a survey featured in Digital Commerce 360, 80% of B2B buyers will do more purchasing online post pandemic.

This is a big seal of approval for the online shift happening in B2B – and at a scale that will see B2B ecommerce rival B2C.

   

digitalization-iconB2B and B2C companies digitized 20-25 times faster during COVID-19

A silver lining to COVID-19 for both B2B and B2C companies can be found in the incredible pace of digital change.

McKinsey has found that companies had digitized many activities around 20-25 times faster than they had previously thought possible.

As the pandemic recedes, expectations will now be very high when it comes to launching new digital initiatives.

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70-80% of B2B decision makers now actually prefer remote human interaction or digital self-service.

remote-icon70-80% of B2B buyers and sellers prefer remote or digital interaction

McKinsey have also discovered that in some areas, the digital shift is moving more quickly – and with more dramatic results – in B2B, rather than B2C.

Another study of the effects of COVID-19 found that around 70-80% of B2B decision makers now actually prefer remote human interaction or digital self-service.