Acquity Group’s “2013 State of B2B Procurement Study” has some interesting findings. Corporate buyers, with annual budgets in excess of $100,000, were surveyed on their purchasing habits and preferences. Here are highlights (directly quoted):
- Forty Five percent of respondents have used Amazon Supply to make a purchase in the last year, and 25 percent of respondents who have used Amazon Supply purchase from there frequently.
- Corporate buyers have limited loyalty to suppliers. If another website or supplier sells the same product at a lower price, 85 percent of respondents stated they will buy the lower cost option instead, despite loyalty to their current supplier.
- The majority of buyers (71 percent) indicated they would purchase from the website with a more convenient and efficient purchase process when price is equal, despite loyalty to their current supplier.
- Nearly half of buyers (46 percent) prefer to research and purchase products independently, with support available over phone or live chat. More than half (55 percent) of buyers research before making most of their purchases, and the average buyer spends 30 minutes to two hours doing research.
Click here to download an infographic highlighting the 2013 State of B2B Procurement report visually.