Articles & News About ISP's And The Internet

Thomasglobal.com Study Finds that for Global Industrial Sourcing, the Move to the Internet Now Appears to be Complete

New York, NY (PRWeb) February 5, 2007 -- ThomasGlobal.com today announced the results of its Industrial Purchasing Barometer (IPB) Survey, revealing that global industrial specifiers and buyers are now sourcing industrial products almost solely online. Those surveyed said that the most valuable information they could get from an online search is a detailed description of the supplier's brands, lines and products.

For global industrial sourcing, the move to the Internet now appears to be complete. While respondents indicated that they still make some use of various resources in their buying cycle, the vast majority are sourcing industrial products online. Industrial buyers are hungry for information and it is clear that suppliers must provide detailed product information in a quick and easy to navigate manner in order to attract and keep customers.

Some highlights from the survey that was conducted randomly among ThomasGlobal's pool of over 36,000 non-U.S. opt-in online users:

•    73% of all respondents indicated that they use the Internet to source or buy industrial products for their company.

•    Search engines are the number one place industrial professionals go when searching for an industrial product, with 95% of those surveyed using at least one search engine in their sourcing process. More than 35% of the respondents indicated that their search typically consists of looking at 2 or 3 websites before selecting a supplier, with 10% looking at just one website if it has what they need, and 32% viewing 4 or 5 sites before selecting a supplier.

•    After finding out online that a supplier has or makes what they need, respondents have overwhelming moved to emailing as their next step, with 57% doing so. The next most popular choice was the traditional method of phoning the supplier. Those polled also complete their transaction by email more often than by any other means, but almost three quarters of respondents now usually complete their transaction by either email or online.

•    Industrial professionals said that the most valuable information they could get from an online search was the presence of detailed descriptions of the supplier's brands, lines, and products, followed closely by the presence of a catalog on a supplier's website.

•    Industrial buyers have clear expectations of their suppliers. Close to half of the respondents indicated that they would wait only a few days for a supplier to respond to an email requesting more information. After that, the customer will move on to the next supplier. Thirty-three percent of potential buyers said they would only wait one day before moving on. It is apparent that industrial suppliers must make it a priority to respond to prospective customers' inquiries - or they risk losing the business.

•    Over 63% of those polled have already sourced from a U.S. manufacturer or supplier in the past. Of those who haven't, almost three quarters responded that they would consider sourcing from a U.S. manufacturer or supplier.

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