Selections of the 2018 Avionos Procurement Officer Report are quoted here in their original form. According to a recent Avionos survey of 160 U.S. B2B procurement officers, 83% of these buyers will spend more to purchase products from suppliers that offer robust eCommerce experiences. The results show this trend will only increase as millennials continue to replace baby boomers in the workforce, says the report.
Key Findings Include:
As a B2B business leader, you need a strategy now for digitizing the buying experience, says the report. Leveraging the power of cloud software, you can quickly react to trends, meet changing customer needs and maximize sales as the B2B ecosystem evolves, says the report.
Today’s B2B customers expect a modern eCommerce experience, and they’ll remain loyal to the businesses that offer it. When reflecting on past purchasing habits, 89% of procurement officers say they make more purchases online today compared to just a year ago. And 97% of all procurement officers consider a supplier’s customer portal offerings a critical factor when selecting a supplier, says the report.
More importantly, says the report, 83% of buyers would choose a supplier with excellent eCommerce and customer portal capabilities, and 97% of all procurement officers consider a supplier’s customer portal offerings a critical factor when selecting a supplier.
The need for eCommerce will become even more dire as digital-savvy millennials continue to replace baby boomers in the workforce, says the report. Roughly 10,000 baby boomers hit retirement age every day, and millennials are filling their former roles. The B2B procurement industry is no exception to this generational shift: already 46% of the survey sample identifies as millennials.
Raised with the power to buy anything they want using the internet, millennials have high expectations for online buying experiences in their work lives, and they prefer to conduct business with companies that offer the easiest path to purchase online, finds the report. Simply put, concludes the report, millennials have known eCommerce their whole lives and are significantly more engaged in the buying process than their older counterparts.
To access the original report, please visit here