Digital or Die
The Time is Nigh for Distributors to Embrace eBusiness
It’s now or never for digital adoption in B2B markets.
There was a sharp increase in online engagement with customers in March and April 2020 and it is proving to be more than just a blip due to COVID-19.
Evidence of a massive digital shift:
- Distribution Strategy Group survey: The majority of distributor respondents have seen a major shift to online buying as a percentage of sales vs. other channels as a result of the COVID-19
- Forrester survey: Half of decision-makers said digital commerce is driving their growth right now.
- McKinsey survey: B2B customers prefer digital engagement 2X more than traditional sales interactions.
- McKinsey survey: Mobile app sign ups have grown up to 250 percent in recent months.
Distribution Strategy Group believes that end-user adoption of digital technologies for shopping and buying has been accelerated by three to five years. Distributor e-commerce revenue has also been accelerated as a result.
The debate should no longer be about whether to invest in a robust digital platform. Investing in digital in B2B is a cost of doing business.