New Forrester Consulting and SAP Hybris Study
- China Enterprises Face New Challenges in Keeping up with Customer Shopping Habits
- Number of Chinese B2B buyers making more than 25% of purchases online likely to double in three years
- 83% of B2B buyers consider same-day delivery important for work-related online purchases
Beijing, November 30, 2015: Personalization, omnichannel capability and seamless integration: These are the new requirements of business-to-business (B2B) sellers in China, according to the latest research from Forrester and SAP Hybris.
Along with the B2B eCommerce market growing quickly, the shopping behavior of B2B buyers is changing rapidly to demand an easier and more personalized purchasing experience, according to the new study: “Digital Transformation Made Simple for B2B eCommerce in China.” SAP Hybris commissioned the study from Forrester Consulting to explore how B2B buyer expectations are transforming the way suppliers sell and deliver products and services in China.
“B2B eCommerce is expected to develop quickly in the future, with different industries expected to form their own eCommerce models,” said Frank Zhang, General Manager of SAP Hybris in Greater China. “Businesses that fail to evolve as this trend takes hold, either by building an eCommerce platform that does not meet customer needs or by failing to build a competitive eCommcerce platform, will find it difficult to compete with those that provide a personalized experience catering to the needs, habits and preferences of customers. This is likely to result in impact sales and customer retention. For B2B sellers in China, deploying eCommerce platforms with the features and functions that the China market expects needs to be a high priority.”
“With the B2B eCommerce market gaining momentum in China, B2B sellers must accelerate their digital transformation via technology platforms to deliver a more personalized shopping experience and meet challenges from buyers with evolving demands and expectations,” said Charlie Bai, Principal Analyst of Enterprise Architecture, Forrester Research.
The Digital Transformation Made Simple for B2B eCommerce In China study revealed four key findings:
- Looking up product information across each channel (68%)
- Returning or exchanging products across channels (58%)
- Being able to share unified account and order history (37%)
- Viewing personal activities across channels (31%)
- Conflicts among different channel organizations (40%)
- Employee or management resistance (37%)
- Difficulty of sharing customer data among channels, countries or locations (35%)
- 75% of buyers want flexible price lists and product catalogs for different users
- 72% think that a differentiated customer experience is required to support personalized purchase approval workflows for customers
About the study
For the study, “Digital Transformation Made Simple for B2B eCommerce in China,” commissioned by SAP Hybris, Forrester Consulting interviewed 564 online business decision-makers of B2B eCommerce sellers from various verticals such as automotive, high-tech, manufacturing, consumer products, life sciences, distribution, retail, and oil and gas. In addition, Forrester interviewed 200 online business decision-makers of B2B eCommerce buyers in China that cover multinational corporations, state-owned enterprises (SOEs), and government, as well as other listed and privately owned companies. These decision-makers all come from companies with annual revenues ranging from RMB200 million to more than RMB5 billion, and they hold various leadership roles for eCommerce, including CEO, CMO, various levels of vice president as well as director and manager in a line of business/function. The study’s objective was to evaluate to explore how B2B buyer expectations are transforming the way suppliers sell and deliver products and services in China.
About Forrester Research
Forrester Research (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We work with business and technology leaders to develop customer-obsessed strategies that drive growth. Forrester’s unique insights are grounded in annual surveys of more than 500,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of our most innovative clients. Through proprietary research, data, custom consulting, exclusive executive peer groups, and events, the Forrester experience is about a singular and powerful purpose: to challenge the thinking of our clients to help them lead change in their organizations.