The first half of 2024 was a transformative period for B2B e-commerce, marked by significant growth, evolving trends, and emerging challenges. Recent data indicates that B2B website sales in the United States are expected to reach US$2.04 trillion in 2024, representing 22% of total online sales. In contrast, the B2B e-commerce market in Latin America, while rapidly growing, is considerably smaller, with estimates reaching US$200 billion by 2025.
This disparity can be attributed to differences in market maturity, digital infrastructure, and levels of technological investment between regions. While the United States enjoys robust infrastructure and a high level of digitization, Latin America is still in the process of developing these capabilities. However, the compound annual growth rate in Latin America, around 20%, indicates potential for catch-up , as companies continue to adopt and implement more advanced e-commerce technologies.
Overall, the significant growth seen this semester has been driven by technological advancements and the need for more efficient purchasing processes. The reliance on digital channels for B2B transactions has increased, with 60% of buyers visiting supplier websites and 55% participating in webinars hosted by suppliers before making purchasing decisions. Another indicator is the lengthening of the purchasing cycle, with 75% of executives agreeing that the average time has increased in the last two years.
Among the main developments during this period, the following stand out: the improvement of the user experience, with new interfaces and functionalities on websites providing better shopping experiences; the adoption of mobile commerce in B2B transactions, driven by the need for convenience and real-time access to information; and the use of blockchain to increase transparency and security in supply chain management.
Emerging challenges
Despite its growth, the B2B e-commerce sector still faces several challenges, including lengthy purchasing processes, difficulty in integrating new platforms with existing legacy systems, and integration with sales teams, since all sales formats must work in synergy. Furthermore, given that transactions move online, the risk of cyber threats is higher, requiring robust security measures to ensure data integrity and maintain buyer trust.
Opportunities in the sector
Companies that are open to B2B e-commerce can leverage data analytics to tailor offerings to individual buyer needs, as well as use artificial intelligence (AI) and automation to streamline processes, reduce costs, and predict purchasing patterns. Other possibilities include adopting omnichannel to provide an even better experience at all touchpoints, in addition to establishing strategic partnerships and collaborations to help expand their offerings and enter new markets.
The leading sectors in e-commerce growth are Manufacturing, driven by the need for efficient purchasing and supply chain management; Wholesale and Distribution, which is increasingly adopting e-commerce to simplify operations and reach more customers; and Healthcare, focusing on the purchase of medical supplies and equipment.
But the sector isn't just about large companies. Small and medium-sized enterprises (SMEs) are also showing a positive outlook as they seek to adapt to B2B e-commerce. To this end, they are investing in technology—especially digital platforms and tools to improve their online presence—employee training, and specialized products and services for niche markets, seeking to differentiate themselves from larger competitors.
What does the future hold?
Riding this wave, the sector's future looks promising: B2B website sales are expected to grow steadily, reaching US$2.47 trillion by 2026, representing 24.8% of total e-commerce sales. According to Gartner data, 80% of B2B sales interactions between suppliers and buyers will occur through digital channels by 2025.
Continuous technological advancements should drive innovation and efficiency in B2B transactions, and companies will continue to expand globally, leveraging digital platforms to reach new markets and customers. Furthermore, much of the insight should come from the evolving profile of the B2B buyer, which has changed significantly in recent years in a clear generational transition.
In short, the main opportunity is not to miss the boat when it comes to B2B digital commerce. The next 24 months will be very important for all companies that share this vision.
