B2B ecommerce sales will build slowly — but steadily — in 2024 – Digital Commerce 360

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B2B ecommerce sales activity for early 2024 is starting to take shape. The halfway point of the calendar year may be near, but government data on U.S. business sales lags by several months.
Still, the numbers for the first quarter are in. How they add up can be a good harbinger of how businesses — both online and offline — will perform for the rest of the year.
For January through March, U.S. business sales were flat at $1.992 trillion, according to data from the U.S. Department of Commerce.

Using these numbers as a base, Digital Commerce 360 projects that U.S. B2B ecommerce sales in the first quarter increased 5.8% to $358.6 billion from $338.8 billion in the first quarter of 2023.
What do these ecommerce numbers mean for U.S. manufacturers and distributors? The answer is a slow but steady build to sales growth online for the remainder of 2024.
Digital Commerce 360 projects that in 2024, B2B ecommerce sales will grow eight times faster than total B2B sales and total $2.61 trillion.
For manufacturers and distributors to hit those numbers, the increase in ecommerce sales will be consistent but not meteoric.
A look at the first quarter of digital sales for many public distribution companies shows slow but steady growth. Examples include:
The takeaway for U.S. manufacturers and distributors: Ecommerce sales will continue to grow in 2024 as more digital-first buyers do more of their organizational purchasing online.
Check back soon for more Charts & Data Stories, like our weekly B2B infographics. Here’s last week’s. We add new content regularly. 
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Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan. Follow us on LinkedIn, Twitter, Facebook and YouTube. 
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Copyright © 2024 Digital Commerce 360 | Vertical Web Media LLC
Copyright © 2024 Digital Commerce 360 | Vertical Web Media LLC

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