Online Purchasing Trends: B2B Products
Delivered April 8, 2020. Contributor: Sunali T.
Goals
To identify trends related to the increase in online purchases of B2B products during the past 2-3 months as a result of COVID-19.
Early Findings
- Smart Insights has reported that, based on the findings from a poll of over 200 B2B marketers, 28% of marketers plan to reinvest their budget from one of the worst-affected B2B channels — trade shows, into digital advertising.
- According to research from TrustRadius (cited by ClickZ), only 18% of tech companies anticipate a reduction in their spending on software in response to COVID-19. In fact, 40% of B2B tech companies plan to spend more on software.
- An article from Sana Commerce states that, since the coronavirus pandemic began, "some construction suppliers have reported an uplift in B2B e-commerce sales, while luxury and cultural goods customers are seeing a decline."
- Accenture states that "in B2B, with the unpredictability in the product supply chain and distribution channels, manufacturers are looking to expand their strategy to move closer to end consumers." It further states that in response to the global pandemic, organizations that have viewed digital commerce as a secondary channel now need to reorient every aspect of their business towards this.
Proposed next steps:
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