eCommerce is a growing trend globally, with the recent Covid pandemic increasing the number of consumers and businesses that now prefer to buy online rather than in-person. It offers greater convenience, as well as more variety and potentially better quality, giving consumers more options when making purchases.
While eCommerce is mostly talked about from a consumer perspective, it’s also changing the way many industries do business, including the construction industry. Many contractors and construction companies now prefer to shop for tools, equipment, and materials at eCommerce suppliers such as this site. Although construction has traditionally been supplied by face-to-face interactions, times are changing, and the industry has had to change with it. Here’s how the industry is changing as a result.
Large Suppliers Focusing on eCommerce
Despite the fact that construction has largely been built on the success of brick-and-mortar suppliers, a growing number of these companies are now focusing on eCommerce. For example, Grainger estimates that 80% of all its revenue will come from eCommerce by the end of the year. From a study of 300 B2B distributor companies, online sales have grown by 11% year over year, bringing in $700 billion in revenue.
With the changing attitudes toward buying online, many have seen the writing on the wall for traditional retail and have adapted their business models accordingly. As a result, they’ve invested a great deal into positioning themselves to take over the online space. Large suppliers are quickly moving to take over the construction supplier eCommerce market, and smaller companies could be left behind if they fail to adapt.
Personalization and Customised Buying Experience
Face-to-face retail is often preferred by many in the industry as having a good relationship with a supplier usually means they’ll know your specific needs and the materials and equipment you like to purchase. However, not every B2B retail experience is like this, and some suppliers simply sell to too many contractors and companies to know them all by name.
eCommerce might not seem like a friendlier solution, but actually, many eCommerce suppliers are able to offer a more personalized experience. Platforms can use tracking data to understand what customers like to buy and offer product recommendations and even special offers based on previous purchases and project requirements. This makes finding products much simpler and more efficient.
Integration with Construction Management Systems
Modern construction businesses use a variety of different tools to complete projects efficiently, including construction management systems. This is a type of software that helps to plan out projects, calculate the type and number of materials needed, and provide scheduling and coordination features. This software can be integrated with eCommerce platforms, making the process of buying and managing inventory much simpler.
Thanks to construction management software, a construction company doesn’t need to constantly stay on top of its material inventory, knowing that the software has already ordered all the supplies needed. It can also record and save data on past projects to know exactly how much is needed before the project begins.
Self Service
A growing number of people now prefer self-service options when buying at retail and eCommerce stores. In a lot of cases, they feel it’s faster, and it also gives them more freedom over what they choose to buy. Instead of talking to a sales rep, eCommerce has allowed those working in construction to find what they want online and instantly make purchases.
A recent study reported that 85% of B2B buyers prefer ordering self-service rather than talking to a sales rep when buying tools and equipment. However, some equipment types, such as heavy machinery, still often need to be handled in person.
