US B2B ecommerce sales will grow by a healthy 11.2% this year, reaching $1.676 trillion. Although macroeconomic conditions remain challenging, we expect B2B ecommerce sales to outperform the overall B2B market. That said, B2B ecommerce still plays a limited role in B2B transactions, and the room for growth is enormous.
Total B2B product sales will amount to an eyewatering $16.273 trillion in the US this year. To put that in context, the GDP of the entire US economy was $24.882 trillion as of Q2 2022, per the Bureau of Economic Analysis (BEA). Given that scale, ecommerce’s relatively small share of B2B product sales still adds up to a huge figure.
Ecommerce will make up only 10.3% of B2B product sales this year, but it’ll account for a much larger portion of B2B electronic sales. B2B has become increasingly digitized over the past few decades, and recently, the ecommerce portion of this digitization has been growing more quickly than the portion of sales conducted via e-procurement and EDI.
B2B product sales growth is rapidly decelerating along with the rest of the US economy, but B2B ecommerce growth will remain robust. Last year, all of our B2B sales metrics grew by double digits, largely because of the overall B2B rebound from 2020’s pandemic-driven nadir. This year, however, only ecommerce will grow at a strong clip.
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