B2B ecommerce site sales will gain ground over the next four years

B2B ecommerce site sales increased 10.5% YoY in 2024, reaching $2.297 trillion. After a pandemic-era peak of 17.6% YoY in 2020, annual growth rates continue to moderate but remain strong. Ecommerce site sales will grow an average 7.8% YoY from 2024 through 2028, reaching $3.027 trillion by 2028.

• B2B ecommerce takes a bigger share. By 2028, B2B ecommerce will account for 27.5% of electronic sales and 14.3% of total B2B product sales. This is up from 23.7% and 12.0%, respectively, in 2024. Growth is driven by trends in buyer behavior, the convenience of third-party marketplaces, and AI tools offering personalized digital experiences that enhance customer engagement and streamline the procurement process.

• Data accuracy is critical for advanced ecommerce capabilities. A 2024 Forrester Consulting survey found that despite the momentum of ecommerce in B2B, data management is not optimized or automated. Inconsistent, incomplete, and unstructured data stalls efforts to meet buyers’ expectations for personalized, seamless experiences. Without addressing these gaps, even the best ecommerce platforms can’t deliver the reliable product discovery and tailored journeys that today’s B2B buyers demand.

Read the full report, US B2B Ecommerce Forecast 2024.