Digital B2B outlooks for 2022
Even though the pandemic is beginning to subside, digitalization continues to remain important in 2022. Travel is less restricted and in-person meetings have started to resume, but the value of online business operation remains very important.
During the pandemic, e-commerce grew by 5x. The e-commerce market grew by 11% in Q3 of 2021 alone. The continued growth throughout the end of last year, even when in-person interactions were deemed safer.
Trends in B2B trade in 2022
Alibaba articulated a few major trends that are creating opportunities for 2022:
- Online B2B buying becomes key: E-commerce has become popular in the B2C sector for several years now. However, during the pandemic, there was a major shift in the way that B2B trade was conducted. Because of travel restrictions and limited in-person interactions, it became difficult to close deals face-to-face. Online buying became key so that deals could be facilitated remotely.
- Increased demand: The societal shifts of the pandemic can be seen on a global level. The way that people spend money has changed as a result of being stuck at home and limited on travel, and with this comes an increase in demand.8
- Resolution to supply chain shortages: Last year, there were significant supply chain shortages that held up trade in many industries. However, these issues are actively being resolved, and experts believe that the resolution of these issues will contribute to greater growth. In the event that the supply chain shortages are not completely resolved this year, SMEs are better prepared to navigate these issues after dealing with them for such a significant period.
Source: Alibaba news