93% of British manufacturers will increase their marketplace presence in 2025 in response to rising demand and new revenue opportunities, as the Business-to-Business (B2B) buying journey continues to digital transform, according to research by Akeneo, the Product Experience (PX) Company.
Currently, 79% of all British B2B manufacturers sell products and services on marketplaces, increasing to 84% of retail and ecommerce-focused manufacturers, according to original research in Akeneo’s 2024 B2B Survey Report, which surveyed 650 industry leaders and decision makers across the U.K., U.S., France and Germany.
A further 13% of UK manufacturers plan to activate marketplace channels in the coming year as they look to provide their B2B or trade consumers with a more independent, data-driven buying experience – moving away from the traditional sales representative-led model and mirroring B2C online shopping experiences. Overall, 43% of British B2B businesses say they will significantly expand their digital sales strategy in the coming year, with more than a third (33%) predicting between 40 – 59% of their revenues will come from digital channels as they look ahead to 2025.
Kristin Naragon, Chief Strategy Officer at Akeneo, commented: “The future of the B2B commerce landscape will be increasingly defined by digital experiences and the adoption of innovative technologies that power those online buying journeys. Organisations that embrace digital transformation, leverage cutting-edge tools, and learn how to quickly adapt to market changes are positioning themselves for success in an increasingly competitive, and ever-evolving, industry.”
In addition to increased sales revenue, UK manufacturers report receiving the following benefits from selling on B2B marketplaces – access to a wider customer base (53%); increased brand visibility and ability to keep up with competitors (both 52%); and enablement of a faster sales cycle (39%). A third (34%) of manufacturers report marketplaces provide customers with an additional way to learn about products and an opportunity for engagement, feedback, and brand interaction.
“B2B businesses recognise the need to adapt their business models to accommodate both new B2B consumer demands, as well as tapping into lucrative new revenue channels,” Naragon added. “Central to accelerating this digital transformation and channel growth relies on a unified and central product record, that can accelerate time to market, as well as improving both customer and product experiences across each touchpoint, whether direct or via 3rd party channels, such as marketplaces.”
