Why Builders Merchants Must Adapt to B2B E-Commerce

The internet's ease, accessibility, and openness in our everyday transactions has profoundly transformed our standards of how we do business. We are surrounded by innovation, operations that were formerly laborious and time-consuming are now carried out automatically and in real-time. In the past we have noticed other sectors jumping into B2B e-commerce, same has happened with building material/construction sector, many big players have already penetrated the online space despite the fact construction industry was very cautious in transforming from physical to digital world.?

The times are changing.??

Adoption of innovation has expanded considerably in recent years, most notably with COVID-19. That is a positive development. Every day, customers value simpler, quicker, and more streamlined processes, and it's only a matter of time before they want the same from building merchant business. As per the statistics, 93% of individuals prefer shopping online, as the numbers says e-commerce has a lot of potential. Businesses don’t want to be abandoned, because people prefer business that are online and if construction businesses are not going to adapt 3-commerce in future, it will cause trouble for them in future.?

The Emerging Building Material Market?

The worldwide building materials market was valued at $272 billion in 2020 and is expected to increase to $377 billion by 2026. Construction industry has a huge potential and figures will increase in near future which means business should adopt the e-commerce trend to stay ahead and competitive.??

The building material sector can no longer afford to count on obsolete technology to handle sales and analytics in this volatile environment. E-commerce is booming exceptionally and many businesses are adopting technology and innovation eventually all business will go digital. If building material sector does not adopt this change their business will suffer huge losses which eventually end up closing the business. Amazon Business includes approximately 2 million industrial/electrical items and another 1.4 million fasteners alone. Clearly, the building sector is moving toward internet retail.?

The Building Industry's E-Commerce Business is Growing?

Following the COVID-19 pandemic, there has been a noteworthy transition in building material transactions from offline to the internet, with 75% of building professionals indicating they will invest in strengthening their online presence.?

70% of construction businesses believe those that do not accept digital methods of working would go out of operation. According to the research, an amazing 89% believe that digitalisation would change the way they operate.?

?Buyers are Getting Younger?

Millennials now account for up to 73% of all B2B purchasers. Individuals born between 1981 and 1995 are considered millennials, and they are now between the ages of 25 and 39. What is the importance of this??

They prefer to do their research and purchases online. Millennials purchase online 60% of the time as of 2019. This extends to their business objectives as well. This trend is expected to continue as more Baby Boomer company owners pass on their operations to the next generation.??

I'm not suggesting that those who aren't using e-commerce will switch their practices immediately. If they haven't yet, at least half of the consumers are switching. Some building material merchants use the concept of the "old school" consumer to describe all consumers, justifying not prioritising e-commerce. It is a wrong perspective. Such customers, like all innovations, fall into the "laggard" group on the technology adoption curve. They are the last to purchase or lease building materials online. All of the signals that lead to the conclusion that we are only at the commencement of the B2B e-commerce adoption curve in the building material market which is being ignored by these suppliers.?

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“Examining the specific industries, it is clear that the construction industry, which has historically been a laggard when it comes to enabling technology, is investing heavily to catch up with more digitally mature sectors such as manufacturing,” IFS Industries Senior Vice President, Antony Bourne, said?

Impact on Construction Business if they Fail to go Online?

Construction companies that do not digitally convert will be swept away by the pace of change; it will happen quickly and without notice. The leadership challenge, irrespective of company size, is to proactively foster a culture of intentional innovation and to engage in reinventing while continuing to do business as usual. The risk of not aggressively pursuing digital transformation today is that by the time business as usual becomes impossible to continue, it may be too late.??

Even if a corporation chooses not to invest in new technologies and advances, this does not indicate that its opponents will. Early adopters of technology will have a learning edge in any commercial scenario.?

They can respond to shifting trends and needs more quickly than companies that have not embraced digitisation. Furthermore, early adopters will welcome new advances more readily than those who are just getting started.?

In serious conditions, it may come to a point where the laggards' growth is stunted since they no longer have the means to adapt. The distance between them and their innovative competition will be too large for them to overcome.?

Growth in Construction Industry?

E-commerce in the building merchant's industry is expected to grow rapidly in the coming years, as construction manufacturer merchants seek to enhance income streams and transactions without needing as many people on the ground. A digital transformation strategy for effective B2B e-commerce solutions is essential for keeping up with these innovations.?

So what now???

Looking for an e-commerce platform for you own construction business growth? Look no further because you are at the right place. JustSell is your one stop solution to grow your building material business online, Just Sell is a platform that makes it simple to start and grow a B2B e-commerce construction business online.??

Go digital with JustSell, before it is too late!?