Why The Construction Industry Needs E-commerce

By Author: Dishant Makawana
Total Articles: 2
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In the rental equipment market, we are just beginning to see the benefits of e-commerce. This means that the longer suppliers delay, the more likely they are to lose clients or miss out on opportunities.

Consider the following reasons why the construction service provider needs to go online or begin utilising e-commerce platforms.

1. Buyers Adapt to Trends in Innovation: Consumers are more enticed by novel designs. Expedia, for example, claimed a 36% increase in automobile rental bookings through its web portals. From manufacturing to rapid rental business growth, consolidation, and platform development, heavy equipment rental appears to have fallen behind the times. However, there is one critical differential that will prevent equipment rental from becoming "platformized" in the same way that vehicle rental has — there is more at stake with heavy equipment rental than there is with automobile rental.

2. Amazon's Business is Growing at a Rapid Pace: Consumers are increasingly turning to e-commerce and purchasing things through portals such as Amazon. According to Applico, Amazon Business reported overall ...
... sales of $10 billion in 2018, with $6 billion in maintenance, repair, and operations supply—their biggest category. The residential building construction services business and civil construction services could learn a thing or two from the expanding popularity of internet shopping.

3. Purchasers Are Getting Younger: A Merit survey found that millennials now account for up to 73% of all B2B buyers. The millennial generation is described as those born between 1981 and 1995, putting them between the ages of 25 and 39 at the moment. How significant is this?
They would rather conduct their research and make purchases online. Millennials now shop online for 60% of their purchases. This extends to their professional requirements as well. This trend is likely to continue as more Baby Boomer company owners transition their enterprises to the next generation.

4. Buyers Research and Purchase Using Their Phones: Having an excellent website is insufficient; it must also be user-friendly on mobile devices. Why? According to a recent BCG report, mobile devices are used to conduct up to 70% of B2B search inquiries.

5. Buyers Prefer Self-Service: The construction solutions providers must view e-commerce as a supplement to, not a replacement for, traditional methods of doing business. Humans play a critical role in the sales cycle. According to the same McKinsey report, 76 per cent of B2B customers find it beneficial to speak with a representative when purchasing a novel product or service. This is especially true in the field of heavy machinery.

The next generation of the client is not interested in speaking with a sales representative. According to a McKinsey survey, 85 per cent of B2B buyers prefer self-service tools over speaking with a sales representative when reordering. It, however, doesn’t mean that technology will eventually supplant the sales representative, as some reports imply. Indeed, e-commerce enhances the effectiveness of the salesperson.

Once businesses embrace the concept of being e-commerce enabled, they will be able to significantly increase productivity per sales representative while also enhancing client retention and satisfaction.

Conclusion:
The desire for a digital experience, on the other hand, will outlive the pandemic. When everyone returns to work and the time for construction arrives, consumer behaviour and expectations will have shifted. Now is the moment to reflect on your strategy for adapting to the new consumer. Bandhkam.com can readily help your construction business flourish with online presence. Businesses that act quickly will emerge more efficient and effective on the other side of this pandemic—those who do not take advantage of this opportunity risk being left behind. So, contact us today to learn how your business can be benefited with e-commerce.