Business Buyers Take Center Stage in Online Sales
When Amazon launched its new service aimed at business buyers last month, a trend that has long concerned electronics distributors resurfaced: online retailers taking aim at business-to-business (B2B) markets traditionally served by distributors.
It’s little wonder that e-commerce giants are drawn to the B2B market, since it’s a gigantic target. Oliver Wyman, in a recent publication, put the figure at $7.2 trillion. “The question is not whether Amazon and Google will be a threat in B2B, but rather which customers, purchase occasions, and categories will be attacked first,” the report said.
Willingness to buy online can be traced to age. That is, younger buyers are far more likely to use online buying platforms than older people, research from the Acquity Group finds. Only 29% of those over the age of 60 report making B2B purchases online, a figure that rises to 45% for those aged 46 to 60, to 68% for those 36 to 45, and to a whopping 90% for those 18 to 35.