Increased optimism for digital commerce B2B - new report from Litium

Litium today releases the report Nordic Digital Commerce in B2B 2024. This year's report is the eighth in succession and demonstrates a growing optimism among Nordic B2B companies regarding digital business. 

Based on answers from more than 900 decision makers in Nordic B2B companies in different sectors as manufacturing and commerce, the report gives a full view of the digital B2B landscape.

Two thirds (68%) of Nordic companies are today using digital channels to do business, and this includes several different solutions, from e-commerce platforms to client portals and digital product catalogues. The report also shows that a majority (71%) of the Nordic B2B-companies that today sell online, expect a growth from the digital sales, as many as 68% expect a double-digit growth.

–  This year, we see that B2B companies are clearly more optimistic compared to last year. There is a strong desire and drive to grow the digital B2B business. The driving forces behind an investment in digital commerce have also changed over the years.

While internal improvements, such as a desire to streamline administration and optimize sales processes, have dominated in previous years, the focus today is on enhancing customer service and generating new revenue.

–  The report also indicates a certain discrepancy between the expectations of decision-makers and the service they themselves offer. This suggests that Nordic B2B companies still have some way to go in providing their customers with an optimal experience that combines personalized service with self-service.

This year's study also assesses the awareness of risks related to cybersecurity among Nordic B2B companies. Only half, 51%, of B2B companies today are confident that their systems and processes can handle threats to the company's IT environment and digital commerce.

The report also highlights how the use of artificial intelligence (AI) creates new opportunities for digital B2B business. Currently, 15% of companies are using AI to strengthen their digital operations, and 21% are planning to do so. The applications vary from marketing and sales support to improved data collection and personalized customer experiences.

–  The purpose of Nordic Digital Commerce in B2B is not only to strengthen our understanding of the market; we also want to take an active role in sharing knowledge and insights among companies. Investments in digital channels are not only crucial for addressing today's business challenges but also important for preparing for the future.

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