Intershop Communications AG | Press Release |
Rogue B2B End-user Buyers Bypass the Procurement Roadblock, According to New Commissioned Research from Intershop
- 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 B2B end-user buyers have high expectations and want convenience and advanced commerce features
Jena, Germany, October 20, 2014—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, 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 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/forrester-b2b.
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.
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.