Study Finds Nearly Half of B2B Buyers Have Used Amazon Supply to Make a Company Purchase

CHICAGO, June 18, 2013 /PRNewswire/ -- Acquity Group (NYSE MKT: AQ), a leading Brand eCommerce® and digital marketing company, announces today the loyalty 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 found that 45 percent of respondents have used Amazon Supply to make a purchase in the last year, and 25 percent of respondents who have used Amazon Supply purchase from there frequently.

"B2B suppliers must be aware of the revenue threat from the third-party B2B eCommerce websites," said Robert Barr, Senior Vice President at Acquity Group. "This is particularly important since many buyers do not visit suppliers' physical stores, but rely on catalogs and websites to research products. Unfortunately, many of supplier's websites are outdated and lack capabilities to meet customer expectations."

Corporate buyers have limited loyalty to suppliers. If another website or supplier sells the same product at a lower price, 85 percent of respondents stated they will buy the lower cost option instead, despite loyalty to their current supplier.

Buyers choose ease of use over price
The study showed that while price is a factor, customers will abandon supplier loyalty for improved convenience. The majority of buyers (71 percent) indicated they would purchase from the website with a more convenient and efficient purchase process when price is equal, despite loyalty to their current supplier. When asked which aspect was more important for a company purchase, 32 percent of buyers ranked factors such as customer service and convenience over price.

"While Amazon Supply and other third-party websites offer goods at lower price points, they also provide added convenience and familiarity, which buyers value," said Barr. "Corporate buyers are very concerned with process efficiency. Suppliers have an opportunity to increase revenue by offering a better shopping and research experience online."

The rise of the independent B2B buyer
Nearly half of buyers (46 percent) prefer to research and purchase products independently, with support available over phone or live chat. More than half (55 percent) of buyers research before making most of their purchases, and the average buyer spends 30 minutes to two hours doing research.

"Today's buyers rely on the Internet for research," said Barr. "Suppliers must have a robust online presence with detailed product information. If buyers don't find the information they need, they will go elsewhere to make a purchase."

To download an infographic highlighting the 2013 State of B2B Procurement report visually, visit http://blog.acquitygroup.com/2013/06/07/infographic-who-is-your-b2b-buyer/.

The Acquity Group 2013 State of 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.