Digital commerce remains attractive to consumers due in a large part to the growth of digital channels and improvements in payment and service delivery. Enterprises would like to expand that success to B2B. For both B2C and B2B customers, personalization has become a major differentiator, and service providers are helping enterprises deploy integrated digital commerce solutions. This resulted in an increase of 31% in service providers’ revenue for digital commerce services in 2021–2022.
These emerging trends are covered in Avasant’s Digital Commerce Services 2022–2023 RadarView™. The report provides business leaders with a view into the changing landscape of digital and traditional commerce and highlights key trends in the market shaping the enterprise commerce function. It also helps identify the right service providers that enterprises can partner with to reshape and implement their digital commerce strategies.
Avasant evaluated 34 providers using three dimensions: practice maturity, partner ecosystem, and investments and innovation. Of those 34 providers, we recognized 16 as having brought the most value to the market during the past 12 months.
The report recognizes service providers in four categories:
- Leaders: Accenture, HCLTech, Infosys, and TCS
- Innovators: Capgemini, Cognizant, IBM, LTIMindtree, Tech Mahindra, and Wipro
- Disruptors: Atos, Deloitte, and NTT DATA
- Challengers: Birlasoft, Softtek, and Zensar
Figure 1 from the full report illustrates these categories:
“An increasing number of B2B purchases are carried out via digital channels,” said Fred Pond, Avasant fellow. “Enterprises can create new opportunities by ensuring that even the most complex B2B transactions are enabled through digitalization.”
The full report provides a number of findings and recommendations, including the following
- Adopt a composable commerce strategy and build customizable commerce solutions.
- Consider a composable approach by selecting best-of-breed commerce components and combining them into a custom application.
- Collaborate with service providers that have a MACH-enabled (microservices-based, API-first, cloud-native, and headless) commerce platform to offer customizable solutions and business scalability.
- Integrate digital technologies into digital commerce systems and solutions.
- Exploit digital technologies such as conversational AI for self-service and AR/VR to showcase products virtually and implement platforms including video live streaming and gamification to deliver immersive shopping experiences.
“Businesses really need to be more agile when addressing the shift in customer behavior,” said Shwetank Saini, associate research director at Avasant. “Adopting a composable commerce approach that reduces vendor lock-in can help achieve business scalability and improve customization.”
The full report also features detailed RadarView profiles of 16 service providers and their solutions, offerings, and experience in assisting customers in their commerce transformation initiatives.
This Research Byte is a brief overview of the Digital Commerce Services 2022–2023 RadarView™ (click for pricing).