Study: Price, convenience trump buyer loyalty

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Chicago—Lower prices and greater purchasing convenience are stronger influencers of corporate buying decisions than loyalty, according to a study by digital agency Acquity Group. According to Acquity's “2013 State of B2B Procurement” report, 85% of corporate buyers would abandon their usual supplier for another if the same product were offered elsewhere at a lower price. Also, 71% would purchase from a company offering a more convenient and efficient online purchase process, despite loyalty to their current supplier. Almost half of buyers (46%) prefer to research and purchase products independently, with support available only via phone or live chat, according to Acquity's study, which was based on an online survey of 207 procurement professionals conducted in March and April.
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