30 May 2013 B2B eCommerce Trends: B2B Procurement Spending
40 percent of corporate buyers spend at least half of their procurement budget online, but many suppliers lack the online capabilities they demand. According to an Acquity Group B2B procurement study, they found that 59 percent of respondents are currently making major purchases online.
First of all, of course I continue to be excited to watch agencies like Acquity (who just recently was acquired by Accenture Interactive) put out much needed thought leadership in B2B E-Commerce. Second of all WOW – 40 PERCENT???? Contrast that with this quote from the study:
Only 13 percent of business buyers with a budget of $500 million or more purchase directly from a supplier’s website, even though 50 percent of buyers in this budget range spend 90 percent of their budget or more online. This means they’re spending 37 percent on third-party websites, such as Amazon Supply.
Want more B2B E-Commerce Trends and Statistics?
You are the expert in your field – you have the product knowledge, the application knowledge – so why are we letting an online / digital presence keep your customers from buying directly from the experts. I am not talking about channel conflict, I am talking about your customers that are buying elsewhere because your E-Commerce site lacks the best practices to meet customer expectations or you just haven’t invested in this area yet.
Trends in B2B Procurement Spending
Ever said or heard that? The study continues saying:
- 27 percent make a major purchase of $5,000 or more once per month
- 30 percent make a major purchase 2-4 times per month
- 23 percent make a major purchase 5-11 times per month
- 22 percent make a major purchase 11 or more per month
So, it is about small products and big products, simple and complex. Sounds like procurement behavior is lining up with consumer behavior.