In today’s fast-evolving digital marketplace, B2C companies are missing out on a golden opportunity if they aren’t considering expanding into the B2B space.

The global Business-to-business (B2B) e-commerce market is projected to reach more than $20 trillion by 2027, dwarfing the B2C market, by four to five times. This disparity presents a huge opportunity for B2C companies to tap into a more lucrative, often untapped segment of buyers. One essential tool for making this transition? Punchout integration.

External, or intermediate, punchout catalogs in general allow corporate buyers to access a supplier’s product catalog directly from their own eprocurement system. This streamlined purchasing experience, tailored for businesses, is key to meeting the expectations of B2B buyers. 

The good news is that with punchout capabilities, B2C companies can offer a seamless, efficient buying experience that fits into the often complex procurement workflows businesses are used to, giving them a strong competitive edge.

The better news is that products like Shopspray’s Commerce Punchout add-on eliminate the need for external punchout catalogs. Instead of creating a separate – intermediate – punchout catalog, B2C companies can add punchout functionality directly into their existing e-commerce platforms. This simplifies the process and enables B2C businesses to access punchout features without disrupting their current ecommerce operations or catalog. The result? A faster, smoother way to meet the needs of B2B buyers for punchout – and modern ecommerce experiences – without building an entirely new infrastructure or creating new procurement silos.

Research from McKinsey shows that over 65% of B2B buyers prefer digital self-service channels over traditional sales interactions . Punchout technology, especially when seamlessly integrated through solutions like Shopspray, allows B2C companies to provide this preferred purchasing method, offering businesses efficiency while maintaining control over procurement.

By incorporating punchout into their e-commerce stack, B2C companies can easily serve larger, recurring B2B clients. Ignoring this trend could mean losing out to competitors already capitalizing on the B2B market. 

For B2C companies, the B2B FOMO is real – and punchout is a key ingredient to overcoming it.

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References:

1. “Global Retail E-Commerce Sales 2022,” Statista.
2. “How B2B Digital Leaders Drive Five Times More Revenue Growth Than Their Peers,” McKinsey & Company.