The Future of B2B Ecommerce: 8 Trends to Watch Out for in 2021

 

Due to an expected growth and the advent of 2020’s effect on businesses, the ecommerce sector is proliferating in Malaysia and globally. Daily, thousands of new retailers are making the move to online selling for their products, while a lot of new entrepreneurs are getting kick started through ecommerce ventures like Business Directory Malaysia.

By 2022, global e-retail revenues are expected grow by $6.54 trillion up from just $3.53 trillion in 2019 which is almost double in numbers.

However, ecommerce and B2BMarketplace in Malaysia and other nations is an ever-changing industry. Each year, a lot of new trends come up that can assist your business to grow faster and outdo your competitors – 2021 is no different in this case.

Let’s check at the top five B2B e-commerce trends in Malaysia and globally to watch out for in 2021.

1. Voice Commerce Will Rise

People are increasingly counting onvoice assistant devices justlike theAmazon Echo with Alexa and therefore theGoogle Home with Google Assistant to try to toeverything, from waking them to purchasingproducts online. 75% of U.S. households will have smart speakers by 2025. Voice commerce sales on Malaysia Business Directory and other B2B Marketplace websites are anticipated to succeed in$40 billion by 2022.

Another reason why voice commerce is on the increase is that thegrowing accuracy and convenience of the technology. Both Google and Amazon are pushing regional languages in their virtual assistant devices to assistconsumers shop more conveniently. Therefore, it’sessential to optimize your online store for voice search.

According to Matt Janaway, CEO at MarketingLabs, One simple but very effective thanks tocapture more organic traffic from voice searches to your eCommerce store in business directory Malaysia is to optimize your top-level conversion funnel content to includeanswers to common consumer questions surrounding your products or market. By attracting, engaging and offering value to potential customers through targeted content neatly drops them right into your conversion path for once theyare looking to shop forlater down the road. for instance, what starts as a fastvoice search from an onlineuser trying to findadvice on ‘how to scale backinjuries whilst running’, results inthem reading your solution-based blog post, which successively leads tothe sale of your shoeinsoles! Voice commerce is now too big to ignore, so if you’re an owner of B2B Business Directory Malaysia or any ecommerce store, make certain to requireadvantage of this new digital trend and obtain before the curve before others beat you thereto.

Here are four solutions to get your ecommerce website for voice searches.

• Optimize your web content to improve your chances of appearing in voice searches.
• Add a new skill on Alexa, Google and Apple voice assistant devices.
• Provide voice-based navigation on your ecommerce website and mobile app.
• Ensure all your products can be purchased with a quick and simple flow using voice command.

2. Omnichannel Shopping Will Become the New Normal

Omnichannel retailing refers to providing shoppers a seamless and consistent experience across channels and devices.In a survey by HBR (Harvard Business Review),
73% of respondents said they use multiple channels during their shopping journey. This data of B2B Marketplace in Malaysia and other nations is nearlyfour years old. With the rise withintheadoption of mobile devices and voice assistants, I can only imagine that the amountof omnichannel customers will increase even more in 2021.

Here are some more ways for you to supplya seamless omnichannel experience.

• Optimize your website especially for smart mobile devices. If you have the decent budget, then create a custom mobile app or a PWA. You can opt for React Native or Flutter based platforms to cut the App development costs.
• Personalize the customer experience on your website at every step possible.
• Use tools like SAP Commerce Cloud and b2b market place in Malaysia, TradeMalaysia to ensure a personalized and comprehensive ecommerce experience with end-to-end online realtime retail processes.
• Offer multiple purchase and delivery options, such as
  • Order online, pick up in-store
  • Order in-store, choose home delivery
  • Order online, get doorstep delivery

3. AI and AR Will Enhance the Ecommerce Experience

Online sellers will spend $7.3 billion on AI by 2022. Quite 120,000 stores are going to be using AR technologies to supply customers an upscale buying experience by 2022.Artificial intelligence (AI) acts as your online in-store associate by offering personalized guidance and proposalsto your customers.
AI uses shoppers’ past purchase history and browsing behavior to point out them products they’re more likely to get .Unlike in physical stores, internet buyers can’t try or physically inspect the merchandise that they shall buy.
Augmented reality (AR) helps eliminate this hurdle by letting customers see how a particular product would look on them even before they buy the merchandise.
By implementing AI and AR in your ecommerce store, you’ll likely see a rise in conversions and a decrease within the return rate.

4. New Payment Options Will Emerge

Payment options are one among the most reasons why customers choose a selected brand. If you don’t offer your customers’ preferred payment method, they won’t purchase from your ecommerce store. As of now, most ecommerce businesses accept digital wallets (like Google Pay, Samsung or Apple Pay, and PayPal) aside from debit and credit cards.
Cryptocurrencies, especially Bitcoin, have many benefits for online shop owners, like low transaction fees and no reverse transactions.
For example, Overstock partnered with Coinbase, a Bitcoin platform, to permit customers to use Bitcoin as a payment method.In 2021, we’d see more ecommerce sites business to business online portal like will start accepting cryptocurrencies for transactions.

5. Brands Will Continue to Adopt Dynamic Pricing

Dynamic pricing allows ecommerce retailers to remain competitive and attract more customers. Albeit you sell the simplest product within the world, if you don’t price it correctly, you won’t generate enough sales.
Make sure to settle on the proper price for your products. By “right,” I mean the quantity at which you’ve got the simplest chance of selling your product while making the utmost possible profits.
Use dynamic pricing software to work out the simplestprice for your products. These tools provide real-time insights into your competitors’ prices, market demand, and perceived value of your products to work outthe optimal cost.

6. Mobile Commerce Will Dominate Ecommerce

As consumers’ trust in online shopping increases, they feel easier making purchases using their mobile devices.By the top of 2021, mobile devices are expected to form almost 73% of total ecommerce sales. Besides, 30% of internet buyers are likely to abandon their carts within the middle of shopping if they determine that your website isn’t mobile-friendly.
As a web seller, you ought to specialize in improving the customer experience for mobile users.

Here are some great ways to organize your ecommerce Malaysia fastest growing B2B marketplace site for mobile devices:

• Check your website for smartphone-friendliness using Google Mobile-Friendly Test. submit your website URL in the tool, and it will show if your online ecommerce store is responsive. It also shows if there are any time consuming  loading issues on your website.
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  • Get a progressive web app (PWA) for your online ecommerce store. PWA’s load a lot faster than a website and help customers to view pages that they have previously browsed without the connection of the internet.
  • Implement google accelerated mobile pages (AMP) for your shoppers who visit your site using smartphones.
  • Ensure a quick smooth checkout process on smartphones and find ways to simplify it further.
  • Test your smartphone website manually and ensure it’s easy to navigate. Examine if it is easy to see products on your mobile and if there is an option to zoom like the one on Business Directory Malaysia.

7. Sustainability Practices Will Influence Sales

Green consumerism is rising rapidly. Brands got to act quickly to remain relevant and competitive.
Green consumerism refers to a situation during which customers search for products that are produced in an eco-friendly way that preserves the environment or involves recycling.
65% of consumers say they need to shop forproducts from purpose-driven brands that advocate sustainability. The main target on green consumerism may be a clear indicator that ecommerce brands in business directory Malaysia that prioritize environment-friendly practices will dominate the market within the coming years.
Major Ecommerce brands have already started getting to implement more sustainable practices in their business. for instance , the world’s leading ecommerce company, Amazon, pledged to bring their carbon emissions to zero by 2040.
Here are some great ways to draw in green consumers to your ecommerce store:

• Take a clear stance on long term business sustainability, decide how you will contribute to Mother Nature, and set a deadline. Tell the world what smart practices you are implementing to achieve your goal.
  • Switch to eco-friendly packaging for your products. Use products that have a quite low impact on both power consumption and the environment for packaging, such as recycled packaging sheets or cloths.
  • Send payment receipts and invoices only on emails instead of paper slips.
  • Lower the energy consumption as much as possible. This includes switching off all your equipment when not in use.
  • Look for eco-friendly alternatives to existing products and power sources. You can also create new eco-friendly products that encourage sustainability. Use solar panels to generate power for your office and factory, if not fully, can get partially and show it to the world. 

8. Visual Commerce Will Get Bigger

Visual commerce Malaysia fastest growing B2B marketplace is a term which refers to using imagery not just on your product pages, but also on your entire web store to entice users to engage and place order.

Top retailers like Bose, for example, are already taking benefit of visual commerce to influence their shoppers into purchasing. They have quite high-quality images on their website homepage along with shortcuts to purchase the product directly.

Here are some great methods to leverage visual commerce:

• Change your default products from traditional JPG to JPEG2000 or Web image formats to improve quality and loading speed.
  • Publish smart 360-degree images or videos of your top-selling products.
  • Invest in a visual search tool on your website to allow customers to search using images.
  • Repurpose user-generated web content on your website’s product pages to generate interests.
  • Create visual shopping ads on platforms like b2b market place in Malaysia TradeMalaysia.com and Pinterest to drive traffic to your website and increase sales. 

   Final Thoughts

• Ecommerce b2b in Malaysia and global businesses looking to rule the market must prepare themselves to go with the latest trends as soon as possible. In 2021, voice commerce, omnichannel shopping, AI, and AR will surely be prevalent. More and more online b2b in Malaysia ecommerce businesses will start accepting crypto currency based payments to capture more customers to choose their brand. Dynamic product pricing will also remain a smart and effective way to attract shoppers.