E-commerce has emerged as a 'central channel' for wholesalers, with a significant portion of foodservice and retail operators having shifted to shopping online, according to a new study.
The latest UK Wholesale Online Report 2024 from Lumina Intelligence reveals insights into the wholesale e-commerce landscape to help wholesalers and suppliers navigate economic pressures, leverage digital tools, and meet the changing demands of foodservice and retail operators.
The report emphasises that wholesalers must prioritise e-B2B strategies that deliver seamless digital experiences and ensure product visibility.
Economic pressure continues to challenge spending growth in the sector, the report noted.
Companies are implementing targeted offers, loyalty programmes, and operational efficiencies to drive more frequent purchasing and boost customer retention.
The report also showcases how leading wholesalers, such as Hancocks and Parfetts, have modernised their platforms to enhance user experiences.
It also highlights initiatives that have reduced costs and improved customer satisfaction, such as Mason Foodservice’s adoption of advanced logistics software.
Suppliers' Perspective
The study emphasises the importance of digital engagement, highlighting that online order frequency is increasing.
Suppliers can leverage this trend by implementing clear and targeted promotions on digital platforms, including personalised ads and push notifications, to capture operator attention.
Branded searches dominate the retail segment, while foodservice operators face higher search failure rates, the report noted.
This underscores the need for suppliers to provide comprehensive product data and align their marketing with trending search terms, such as sustainability-focused keywords.
Moreover, retailers are more likely than foodservice operators to make impulsive purchases.
This presents opportunities for suppliers to maximise conversions through compelling promotional offers, digital banners, and strategic new product placements.
Key Opportunities
The report unveiled several 'key opportunities' for the future growth of the sector.
It includes the expansion of digital loyalty initiatives, citing the example of Sugro UK’s e-loyalty scheme collaboration with b2bStore. The initiative rewards digital purchasing behaviours to drive customer traffic and sales.
As mobile commerce continues to see robust growth, the report emphasises the need to optimise apps and focus on mobile-specific strategies for wholesalers and suppliers.
The increasing demand for sustainable products, including compostable packaging, gives suppliers various opportunities to lead in the eco-conscious market.
The study also includes case studies, key economic indicators, and expert commentary on the future of the sector.
