.
- First of its kind research surveyed B2B purchasers in 5 countries
- A new class of sophisticated B2B buyer presents a market opportunity to competitive sellers
- Savvy end-user buyers have high expectations and want convenience and advanced commerce features
Intershop, the leading independent provider of omni-channel commerce, introduces a new class of savvy buyers that is bypassing what they believe to be a corporate procurement roadblock - and so creating a sophisticated market that B2B sellers must address. International research by Forrester Consulting(1), commissioned by Intershop, found that 52% of these 'rogue' buyers find it more convenient to buy directly the goods and services they want, while a third (33%) believe they have a better understanding of their needs than their procurement colleagues.
Purchasing in upper mid-market and enterprise organizations around the globe is evolving to where business buying is not the sole domain of corporate procurement; and in some cases the purchasing 'rulebook' is being ignored completely. However, while sellers should continue to foster an ongoing and deep relationship with procurement customers, they must also address the high expectations of the business end-user buyer who is accustomed to buying conveniently online.
Sellers that want to address this expanding market will have to cater to a sophisticated buyer, found in all the countries researched(1) at all organizational levels and across industries. The end-user business buyer demands deep technical information about the products, multiple payment options, rich media content, and the types of services that only the most innovative and up-to-date online suppliers are delivering.
Among the key recommendations Forrester outlines in the study, The Rise of the Empowered B2B End User Buyer: Understanding and Addressing a New and Emerging Opportunity, "...end user buyers are conducting research and even finalizing their purchases on popular consumer websites. B2B sellers must market to and directly own the relationship with end user buyers by ensuring they provide the right content to deliver convenience and an experience that will engage and drive loyalty among end user buyers. "
The study also highlights that getting the commerce proposition right for B2B buyers in individual markets is critical and expectations vary widely. While a staggering 90% of Chinese respondents confirm they consult customer ratings and reviews before making a purchase, social media was much less important for buyers in the UK (11%) and Australia (12%). Online pricing information, however, was a far more important consideration for Australian (85%) and American (81%) buyers than Chinese (50%) and French (52%) buyers.
"The next new class of online customer has emerged on a global scale, said Jochen Moll, CEO at Intershop. "The Forrester research conducted on our behalf will help sellers crack the code on who these buyers are and how they purchase. We are pleased to be the first to help merchants understand these specific customer needs and to continue our heritage of providing a solution that caters to all buyers."
For more information on this research, please download a copy of the study at www.intershop.com/....
Notes to the Editor:
(1)The Rise of the Empowered B2B End User Buyer: Understanding and Addressing a New and Emerging Opportunity, Forrester Consulting. www.intershop.com/... Forrester conducted an online survey of 1,580 end-users with experience of buying B2B products and services online in Australia, China, France, Germany, the UK and the US. Survey participants were manager level and above from organizations with more than 500 employees across all industries. Questions that participants were asked focused on their relationship with corporate procurement, how they researched and finalized their work-related purchases, and their expectations of B2B supplier. The study took place between July - August 2014.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.
- First of its kind research surveyed B2B purchasers in 5 countries
- A new class of sophisticated B2B buyer presents a market opportunity to competitive sellers
- Savvy end-user buyers have high expectations and want convenience and advanced commerce features
Intershop, the leading independent provider of omni-channel commerce, introduces a new class of savvy buyers that is bypassing what they believe to be a corporate procurement roadblock - and so creating a sophisticated market that B2B sellers must address. International research by Forrester Consulting(1), commissioned by Intershop, found that 52% of these 'rogue' buyers find it more convenient to buy directly the goods and services they want, while a third (33%) believe they have a better understanding of their needs than their procurement colleagues.
Purchasing in upper mid-market and enterprise organizations around the globe is evolving to where business buying is not the sole domain of corporate procurement; and in some cases the purchasing 'rulebook' is being ignored completely. However, while sellers should continue to foster an ongoing and deep relationship with procurement customers, they must also address the high expectations of the business end-user buyer who is accustomed to buying conveniently online.
Sellers that want to address this expanding market will have to cater to a sophisticated buyer, found in all the countries researched(1) at all organizational levels and across industries. The end-user business buyer demands deep technical information about the products, multiple payment options, rich media content, and the types of services that only the most innovative and up-to-date online suppliers are delivering.
Among the key recommendations Forrester outlines in the study, The Rise of the Empowered B2B End User Buyer: Understanding and Addressing a New and Emerging Opportunity, "...end user buyers are conducting research and even finalizing their purchases on popular consumer websites. B2B sellers must market to and directly own the relationship with end user buyers by ensuring they provide the right content to deliver convenience and an experience that will engage and drive loyalty among end user buyers. "
The study also highlights that getting the commerce proposition right for B2B buyers in individual markets is critical and expectations vary widely. While a staggering 90% of Chinese respondents confirm they consult customer ratings and reviews before making a purchase, social media was much less important for buyers in the UK (11%) and Australia (12%). Online pricing information, however, was a far more important consideration for Australian (85%) and American (81%) buyers than Chinese (50%) and French (52%) buyers.
"The next new class of online customer has emerged on a global scale, said Jochen Moll, CEO at Intershop. "The Forrester research conducted on our behalf will help sellers crack the code on who these buyers are and how they purchase. We are pleased to be the first to help merchants understand these specific customer needs and to continue our heritage of providing a solution that caters to all buyers."
For more information on this research, please download a copy of the study at www.intershop.com/....
Notes to the Editor:
(1)The Rise of the Empowered B2B End User Buyer: Understanding and Addressing a New and Emerging Opportunity, Forrester Consulting. www.intershop.com/... Forrester conducted an online survey of 1,580 end-users with experience of buying B2B products and services online in Australia, China, France, Germany, the UK and the US. Survey participants were manager level and above from organizations with more than 500 employees across all industries. Questions that participants were asked focused on their relationship with corporate procurement, how they researched and finalized their work-related purchases, and their expectations of B2B supplier. The study took place between July - August 2014.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.
