Globally, e-commerce sales totaled nearly $5 trillion in 2021 and are expected to surpass $7.4 trillion by 2025, according to Statista. And Morgan Stanley reports that global e-commerce rose from 15 percent of total retail sales in 2019 to 21 percent in 2021.
With so much money at stake, it’s no surprise that companies are turning to emerging CRM technologies and platforms to help them manage the complex digital sales and marketing opportunities and challenges that go with selling online.
While much of the current e-commerce sales volume has come from the consumer channel, to reach business customers, retailers in the online world are increasingly turning to B2B marketplaces, whose numbers continue to grow.
In fact, according to Digital Commerce 360, the number of vertical B2B marketplaces has more than tripled since 2019. This is due to an increase in demand, with roughly 40 percent of businesses reporting that they now purchase as much as half of their goods and services through a marketplace. And by 2023, the B2B e-commerce market is projected to be valued at $2.3 trillion alone.
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