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B2B market turnover to reach 1.7 trillion euros by 2025

The projection for the total value of B2B goods sold online in Europe is set to hit 1.7 trillion euros by 2025. Despite this potential, European B2B sellers have not fully tapped into all available avenues. Many of them restrict their sales to local buyers, missing out on broader market reach.

B2B market turnover to reach 1.7 trillion euros by 2025

These insights stem from an analysis released by Billie, a Buy Now Pay Later (BNPL) solution catering to B2B sellers. The analysis notes that the global online B2B market was valued at 6.5 trillion euros in 2022, with an expected 18 percent growth between 2023 and 2030.

Currently, only half of B2B buyers make use of e-commerce platforms, indicating a significant untapped market. Although e-commerce is well-established in B2C (Business to Consumer) scenarios, its adoption in the online B2B landscape remains comparatively low.

Scandinavia stands out as an outlier, with 92 percent of surveyed B2B companies anticipating online sales. Nearly a quarter of these companies are already generating revenue through e-commerce channels.

Despite the growth of cross-border e-commerce in Europe, many European B2B platforms limit sales to local buyers, missing out on cross-border opportunities. Notably, 57 percent of the top e-commerce platforms in key European markets offer B2B services, but only half of them facilitate cross-border shipping.

Here are some additional insights and perspectives related to the B2B e-commerce landscape in Europe:

1. Digital Transformation Acceleration: The B2B e-commerce sector in Europe is experiencing a significant acceleration in digital transformation efforts. Companies are increasingly recognizing the importance of adopting digital platforms and strategies to stay competitive in an evolving market.
2. Technology Adoption: The adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics is becoming more prevalent among B2B e-commerce players.
3. Omni-Channel Integration: Many B2B companies are focusing on integrating their online and offline channels to provide a seamless buying experience for customers. This omni-channel approach allows buyers to interact with suppliers through multiple touchpoints, including websites, mobile apps, social media, and physical stores or offices.
4. Personalization and Customization: Personalized and customized offerings are gaining prominence in the B2B e-commerce space. Businesses are leveraging customer data and insights to tailor their products, pricing, and marketing strategies to meet the unique needs of individual buyers and market segments.
5. Supply Chain Digitization: The digitization of supply chains is a key priority for B2B e-commerce players. By leveraging technologies such as blockchain, IoT (Internet of Things), and supply chain analytics, companies can optimize inventory management, logistics, and fulfillment processes, leading to improved efficiency and cost savings.
6. Regulatory and Compliance Challenges: B2B e-commerce companies operating in Europe face various regulatory and compliance challenges, including data privacy regulations (such as GDPR), cross-border taxation, and trade agreements.
7. Sustainability and Corporate Social Responsibility (CSR): Sustainability and CSR initiatives are gaining traction in the B2B e-commerce sector, with companies increasingly focusing on environmentally friendly practices, ethical sourcing, and social impact.
8. Collaboration and Partnerships: Collaboration and partnerships between B2B e-commerce companies, technology providers, logistics partners, and financial institutions are essential for driving innovation and addressing market challenges.

Overall, the B2B e-commerce landscape in Europe is dynamic and evolving, with businesses leveraging digital technologies, embracing sustainability, and exploring collaborative approaches to drive success in a competitive market environment.