This article was adapted from “The Furniture Industry is Seeing Transformative Growth through B2B E-Commerce” in FurnitureToday.

The COVID-19 pandemic transformed how industries across the board operate, and some of those changes are here to stay. Most notably, ecommerce has become the primary channel for B2B transactions in sectors of the home and garden industry, among others. As the pandemic shut down traditional sales channels for B2B brands in 2020, the value of digital transactions grew 9.6% to reach US $9.92 trillion, according to Digital Commerce 360.

The home industry saw major demand during the pandemic, in large part because of the increased amount of time consumers spent at home, with many redecorating to build more comfortable living spaces or creating home offices. In fact, three standout trends emerged during the pandemic:

• Home offices: As more consumers have transitioned to working from home, home office furniture sales have increased significantly.
• Redecorating: Home decor has been a booming industry, according to Alibaba.com insights.
• Home improvement: Dollar sales in the home improvement industry grew 22% in 2020, according to NPD Research. And home hardware sales have been up as consumers at home worked on home improvement projects. This includes “smart” home devices.

Despite the increase in demand, the home industry also experienced pain points introduced by the pandemic, with increased prices of raw materials and significant supply chain disruptions and delays. What happens next for businesses that suddenly found themselves surging and for those that are in recovery will depend on how fully and rapidly they embrace ecommerce and digital channels.

How the B2B ecommerce boom has changed the game

Once nice to have, ecommerce is now a must-have, offering businesses access to more markets and global supply, greater operational flexibility, and the resilience to survive and thrive during challenging times.

Of course, it hasn’t always been this way. B2B companies have traditionally relied on building seller relationships face-to-face at trade shows, factories, and offices. When the pandemic restricted travel, buyers and sellers were forced to tap into the value of digital tools. Now, 93% of US companies are doing some portion of their B2B business online, and 43% are using ecommerce, according to an Alibaba.com study.

Digital capabilities made all the difference for many businesses last year, serving as a lifeline as they were tasked with rapidly adapting to new and unprecedented social distancing norms. Going digital helped businesses across the country reimagine their operating models overnight, reach new customers, and mitigate interruptions by diversifying their supply chains and reaching a global seller base. Not only that, but shifting to digital has also given businesses key data and insights into consumer habits and needs.

The furniture industry is no exception with ecommerce driving the market forward as millions of consumers shift from shopping in-store to online. Going forward, one thing is clear: ecommerce is here to stay.

Alibaba.com Summer Online Trade Show: premium sellers, efficient sourcing

Trade shows have been an incredibly valuable channel for B2B businesses to discover new sellers and products and drive their bottom line. While in-person global shows are still on hold, Alibaba.com has been hosting a series of online trade shows that have resulted in tens of thousands of new connections. Alibaba.com Online Trade Show | Summer started on June 14 and will last through June 27, featuring more than 10,000 premium sellers across a spectrum of 30+ categories.

“The Alibaba.com Summer Online Trade Show is a two-week event on the Alibaba.com website, where business buyers and sellers from around the globe can meet and do business with one another from the safety and convenience of their homes and offices,” said John Caplan, President of North America and Europe, Alibaba.com. “Our new Online Trade Show experience makes it even easier for professional business buyers to connect and collaborate with premium sellers so that they can source more efficiently, effectively, and with ease.”

Benefits of the experience include:

• Premium connections: Buyers can easily reach out to selected sellers with outstanding products and services, from R&D and tailor-made design to customer service and order fulfillment.
• Pro-Buyer discounts: Businesses who have upgraded to Pro Buyers on or before June 27 can receive a US $100 coupon to use on Alibaba.com.
• Exclusive VIP pavilion access: For the most efficient experience possible, there will be a dedicated “VIP Pavilion” where the top 1% of Alibaba.com buyers can meet and negotiate directly with managers rated four stars and above from more than 1,000 sellers.
• Cutting-edge industry insights: Businesses can hear from Alibaba.com leaders like John Caplan, President of North America and Europe, Alibaba.com, and Flora Yan, Head of Integrated Marketing, as well as Dirk Kowslowski, Director of IFA, and Kai Hattendorf, CEO of UFI, to learn from successful buyers and sellers on Alibaba.com during the trade show opening ceremony. In-depth industrial reports filled with data and trends from Alibaba.com will also be available.

Attend the show

Businesses in the Home and Furniture industry can attend the Alibaba.com Online Trade Show, June 14 through 27. High-quality sellers are just a click away.