Growth of eCommerce in electrical B2B verticals in India

The electrical equipment market in India is expected to grow by USD 70.69 billion between 2020-2024. There is a huge potential for growth in the B2B segment, and online sales are poised to play an important role.

eCommerce is fast becoming the mainstay in sectors ranging from grocery to home services. The electrical industry is no longer an exception to B2B eCommerce. Both manufacturers and distributors are acknowledging the fact that the COVID-19 pandemic has brought a rapid shift to how the system operates. eCommerce trends were already reshaping the electrical distribution industry when the pandemic hit us. Now the process has been sped up.

Managing touchpoints

The customer journey is a critical point for every B2B interaction. Studies suggest that an average B2B customer generally comes away with a negative experience when interacting digitally. Moreover, over two-thirds of the customers who convert from interest to sales base their decisions on the customer experience. So, it has become imperative for companies to align their B2B interactions in a seamless manner where the customer doesn't feel alienated at any point.

Hence, companies are now focusing on increasing the number of digital touchpoints to offer a better customer experience.

Optimising for Online

Another factor that is critical for conversions is the type of purchase made by the customer. Salesforce and digital assets should go hand in hand to ensure that the customer becomes a returning customer. For example, there is a tiny percentage of B2B buyers who will need in-person support after the first purchase.

By optimising digital channels for seamless repeat orders and interactions, electrical manufacturers and distributors are ensuring that customers are retained.

Understanding the Market Dynamics

The electrical distribution landscape is also changing as we advance into the 21st century. Digital is reshaping the landscape and having a direct impact on how distributors and wholesalers commit their investments. The percentage of online sales has also been on the rise in the past few years. Thus, transforming the traditional value chain and giving rise to new players who have a strong digital presence.

Manufacturers who are aware of this transformation are already providing an omnichannel experience to their customers by entering the digital space along with their traditional distribution networks.

The Future is Connected

As mentioned above, the future of B2B in the electrical industry is connected. Both sections need to work together for seizing the opportunities offered by eCommerce. Impactful content and great digital journey are the way to go for an effective digital transformation.

Schneider Electric India has already enabled B2B transactions through the online shop, where customers can purchase a range of LV and industrial products with benefits like GST invoice, EMI payment options and expert support.

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