Much has been said about how the pandemic has transformed buyer behaviours. More than ever, consumers are making their purchases online, putting rocket boosters under every element of the e-commerce industry.
But while the B2C market grabs the limelight, it’s dwarfed by its less glamorous counterpart. Annual volumes in B2B e-commerce are now over $12 trillion, more than three times bigger than B2C. And that figure is expected to grow another 19% over the next five years as more transactions between companies become digitised.
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