B2B Ecommerce Sales Hits $1 Trillion, India’s New Ecommerce Rules and Caterpillar’s Mobile Push
B2B Ecommerce Sales Hits $1 Trillion
You read that right, folks. The B2B ecommerce market hit $1 trillion in 2018, an increase from 2017’s total of $969 billion. The $1.134 trillion total is 18.9% higher than Forrester Research Inc.’s initial prediction of $954 billion. The numbers don’t stop there. Forrester is predicting that this market will soon hit $2 trillion, and that B2B ecommerce sales will account for 17% of total B2B sales in the United States by 2023.
What stood out to us? Trillion is the new billion, at least in B2B ecommerce.
Why should you care? Like we just said, trillion is the new billion.
Walmart, Amazon Hurt By India’s Ecommerce Rules
India is tightening their ecommerce rules for foreign companies operating in the country, hitting businesses like Amazon and Walmart the hardest. New Indian rules would completely ban foreign ecommerce companies to sell exclusive products such as smartphones. Not only that, but it would close a loophole that previously let foreign online retailers sell their own products through affiliated companies. This potentially means Amazon won’t be able to sell their own exclusive products, such as Alexa, at discounted prices. Walmart and Amazon have invested a lot of money into India’s ecommerce market. Amazon has spent billions on their operations while also acquiring a 49% stake in an Indian supermarket chain. In addition, Walmart acquired Flipkart back in April, India’s biggest ecommerce company.
What stood out to us? Why doesn’t India just ban ecommerce?
Why should you care? Do we see Alibaba 2.0 on the horizon?
Photo by Abhishek Chinnappa/Reuters
Caterpillar's Mobile Ecommerce Push
Caterpillar, a global leader in manufacturing heavy equipment for construction and mining equipment, has seen the light… the light of a phone screen, that is. Caterpillar is expanding their ecommerce side of business, particularly with mobile. In 2017, the company had approximately $45.4 billion in sales, and investors in the company believe that expanding their ecommerce presence will only help those numbers increase. Recently, Caterpillar released an app called Cat App, which allows customers to monitor parts, place orders, and more. Other specialty apps are also offered and upcoming initiatives for 2019 are in the works.
What stood out to us? Buy a bulldozer on your iPhone. Ha!
Why should you care? Looks like Caterpillar is blossoming into an ecommerce butterfly.
In the headlines
- A whole lot of Amazon: Amazon is reportedly planning a Whole Foods expansion.
- Apple vs. China: Apple cut its quarterly sale estimates, with China being a major driving force.
- Walking into B2B sales: Payless Shoes is branching out with a focus on ecommerce and B2B sales.
Before you go
Read this if...
You want to be prepared for these 3 ecommerce trends in 2019.
Look at this if...
You want to see Internet Retailer’s top 2018 ecommerce stories in review.
Listen to this if...
You want to learn how to use YouTube to build your ecommerce business.
Learn how to...
Improve the B2B buying experience.
This is for you
If you’re not getting The Dose sent to your inbox every Saturday, make life easier by subscribing here.
Have a nice weekend!
Be an ecommerce expert. Share the knowledge. Share The Dose.