Risk and reward - an increasingly competitive digital B2B landscape
There is a flipside to being part of an increasingly digital B2B ecosystem, according to our 2016 e-commerce research report “Taking the Fast Track into the Digital Future of B2B Commerce”. In the survey of B2B decision-makers conducted this August, the vast majority of the 400 respondents (99%) observed marketplace disruption as a result of digital technologies changing the rules of engagement:
- Almost half (46%) say their sector is more global than before
- 47% say new products and services are being released with greater frequency – as a result, their products and services can become redundant overnight
- 37% report an increase of stealth practices within their sector, with fast moving competitors and unexpected market entrants launching new products and services with little warning.
While globally 43% of respondents are concerned about stealth competitors, respondents in the Nordic region are more likely to recognize the danger of stealth competition, with nearly three quarters (72%) in this region noting this as a concern.
Clearly, as digitalization lowers market entry barriers and causes long-established boundaries between sectors to tumble, competitive leapfrogging represents a strategic challenge that organizations will need to confront.
While only 30% of the respondents surveyed felt confident about the primacy of their organization’s product offering or their ability to keep up with the effects of digitalization, others were more confident about their ability to stay ahead of the game.
More than three-quarters (77%) of the respondents surveyed believe that their organization is digitalizing at a faster rate than other market players. In this respect respondents from France appear particularly confident, with 95% stating they are evolving faster than other sector challengers. By comparison, just 42% of Nordic respondents were positive their organization was not at risk of getting left behind
What does all of this potentially mean? Find out by downloading your free copy of the full report here.