Survey Shows Over 50% Of Industrial Buyers Will Reject Insufficient Supplier Web Sites
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Thomas Industrial Network, Inc.® Survey Shows
Supplier Web Sites Often Lack Specific Product, Pricing Information
New York, May XX, 2004 - Thomas Industrial Network, powered by Thomas Register® and Thomas Regional®, today announced the results of its survey which examined the online sourcing habits of industrial buyers. Findings revealed that 52% of industrial buyers said that they would move on to the next supplier Web site if specific product information is unavailable. Demonstrating the scope of the problem, 55% of industrial buyers report a lack of specific product information on supplier Web sites and 59% have found a lack of pricing information.
The survey also revealed that industrial buyers say they save their company time and money with online sourcing:
o 21% estimated they saved their company over $501 per month through online sourcing while 18% said they saved their company more than $1000 a month
o 51% stated that their company saves at least 51 hours per month via online sourcing
o 21% estimated that their company saves as many as 500 hours per month from online sourcing, and 13% of respondents estimated that their companies are saving over 1,000 hours a month
o Search engines and online industrial directories were the top two resources that buyers said they turn to time and time again, with fully 85% of industrial buyers going on the Web for their sourcing needs.
"Industrial purchasers are going to the Web more than to any other resource, and they're telling us that if they can't find what they need quickly and easily, they'll move on to the next Web site," said Eileen Markowitz, President, Thomas Industrial Network. "Survey respondents report real savings and increased productivity that demonstrate that online sourcing has had a real impact on ROI and that industrial suppliers need to make their Web presence a top priority."
The survey was conducted randomly among 1,441 of Thomas' online, opt-in users. Survey respondents represent manufacturing and engineering segments, as well as wholesale trade, distribution, service providers and government agencies.
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About Thomas Industrial Network, Inc.
Thomas Industrial Network is a leading provider of Internet sourcing and marketing solutions for industrial buyers and suppliers. ThomasNet.com, powered by Thomas Register of American Manufacturers and Thomas Regional Directory, offers a comprehensive online resource for industry, including detailed product information, company information and computer-aided design (CAD) drawings. Additional information is available at www.ThomasNet.com.
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