CHICAGO, June 3, 2013 /PRNewswire/ -- Acquity Group
(NYSE MKT: AQ), a leading Brand eCommerce® and digital marketing
company, announces today the findings of its 2013 State of B2B
Procurement Study, which surveyed corporate buyers with annual
budgets in excess of $100,000 on
their purchasing habits and preferences.
The study revealed Gen Y buyers are more likely to shop online
than their older counterparts, with a consistent trend of online
purchase increasing in younger generations:
- 90 percent of buyers age 18-35 make company purchases
online
- 68 percent of buyers age 36-45 make company purchases
online
- 45 percent of buyers age 46-60 make company purchases
online
- 29 percent of buyers age 60+ make company purchases online
Research practices by generation
The study also showed that younger buyers research more before
purchasing than their older counterparts.
Those over the age of 60 were most likely to research less than
10 percent of the time, and those 26-45 were most likely to
research 50 percent of the time or more.
Buyers under age 60 spend longer (one to two hours on average)
researching before making a major purchase of $5,000 or more, while the buyers over the age of
60 spend 30 minutes or less on research prior to making a major
purchase.
"The significant difference between age groups in time spent
researching is likely a reflection of experience and an expectation
of substantially more robust content," said Robert Barr, Senior Vice President at Acquity
Group. "Younger buyers are more attuned to the online shopping
experience and less familiar with options in B2B eCommerce, likely
leading them to spend longer doing research across sites,
especially third-party sites, when information on the supplier's
website isn't readily available."
The rise of Amazon Supply
Launched in April 2012, Amazon
Supply is gaining traction among business buyers - 63 percent of
buyers age 18-35 have purchased from Amazon Supply at least once,
and 40 percent purchase frequently from Amazon Supply.
"The next generation of B2B buyers is highly connected, and
expect an easy-to-use and highly-targeted online experience, but
most suppliers don't offer capabilities comparable to familiar
consumer sites, such as Amazon," said Barr. "This trend of online
purchasing continues to rise and B2B suppliers must have an online
presence that promotes familiarity and research capabilities, or
consumers will go elsewhere."
The Acquity Group B2B Procurement Methodology
As a leading provider of digital marketing, interactive design,
and eCommerce solutions, Acquity Group works with many global B2B
companies to extend and refine their eCommerce capabilities to
increase profits, efficiency and customer loyalty. Acquity Group
completed this study to help chief marketing and IT officers in B2B
companies gain a better understanding of how buyers research and
purchase goods for their organizations.
The study surveyed 207 buyers with annual procurement budgets of
$100,000 or more across a wide range
of industries. The survey analyzed buyer behavior and preferences
across a variety of areas, including research habits, loyalty
trends, purchasing frequency and channel, and customer service
needs, as well as feature and offering preferences. Respondents
were further broken down based on demographic qualifiers, including
age, budget and industry. Response percentages were evaluated on a
quantitative scale to assess actionable metrics for B2B
companies.
About Acquity Group
Acquity Group is a leading Brand eCommerce® and digital
marketing company that leverages the Internet, mobile devices and
social media to enhance its clients' brands and e-commerce
performance. It is the digital agency of record for a number
of well-known global brands in multiple industries. Acquity
Group has served more than 600 companies and their global brands
through thirteen offices in North
America. For more information about Acquity Group,
visit acquitygroup.com.
SOURCE Acquity Group Ltd.