Are you ready for the next generation of buyers?

By CorexpandCX on June 18, 2013

While we might not like the idea, the fact is; we’re all aging.

And while it’s nice to develop relationships with customers and suppliers over years – even decades – the reality is that the next generation of unknown, fresh-faced purchasing professionals are on their way up the corporate buying ladder. Here’s what that means to suppliers…

A recent study of corporate buyers still shows that a little less than half (45%) of corporate buyers age 46-60 make online purchases. BUT,  twice as many – 90% – of those buyers age 18 – 35 make company purchases online.

Even more, those buyers are much more online savvy when it comes to getting what they need from their shopping experience. According to the study, the next generation of B2B buyers is “…highly connected, and expect an easy-to-use and highly-targeted online experience, but most suppliers don’t offer capabilities comparable to familiar consumer sites, such as Amazon.”

But it gets even more interesting. Almost 70% of the study’s respondents said they would spend even more online if browsing and purchasing from a supplier’s website were were easier and more convenient.

The bottom  line: the Gen Y up-and-comers want more convenience, with environments that give them more information and more ease with making purchases. This can mean private account marketplaces, PunchOut catalogs, and more.

Fortunately, if you’re operating your sites on the CoreXpand platform, you already have the ability to deliver any type of online environment a young buyer could want. Even better, you have that ability to quickly adapt and change your environments as your customers needs/business requirements change.

But with the next  generation’s way of looking at purchasing looming, it might be a good idea to stay connected and be sure your sites are adapting in a way that meets the next generation of buyer expectations.

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Posted in Buyers Corner, News, PunchOut Catalogs, Sellers Corner, Strategic Planning