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Accenture International 7
Business firms are more concerned with consumer behavior as this may affect the products they sell (Accenture and Hybris, 2015). One factor that has come between consumers and the businesses is the information and communication technology. The business-to-business trends, as well as the business-to-consumer trends, are rapid in a way that they have the ability to affect the behavioral patterns from both ends. Business is of more concern that the consumers as consumers have been found in an environment where they are free to choose from many options. The e-commerce is a modern trend that forces various commercial sectors to strive and adopt the new technology. This paper will look into the B2B and B2C trends as documented by the Accenture International.
According to the information presented by Accenture, United States experiences more online buyers
at present than in the past (Accenture Interactive, 2015). More time and money is being spent on the digital resource, which has been a great boost in the spread of e-commerce. However,
the success story may not go down well with the B2B commerce because few purchases are made online. There is a need for Accenture to make an innovative move that would ensure the online purchases are increased.
According to Accenture Interactive (2015), several studies have also revealed that only 59 percent of the B2B organizations have a third of their customers committed to the online transaction. In addition, 86 percent of B2B organizations can ascertain that online customers can complete an online transaction. The study also revealed that only 14 percent of the B2B organizations have not fully included the online purchasing option. The option of email marketing has been highlighted as the main used technique to reach out to potential customers. 92 percent of the respondents have been reached using the email marketing option, which indicates that it has been an almost successful strategy (Accenture and Hybris, 2014). One of the consumer behavior singled out to have a negative impact on the online B2B transaction is resistance to change. Most people are reluctant to adopt the online option and still prefer the traditional shopping option. Accenture Interactive has indicated that online B2B buyers are expected to increase in number. The study has indicated the increase in online buyers from 57 percent in 2013 to 68 in 2014.
Consumer trends analysis
An article by Accenture International (2014) the past ten years
has experienced dramatic changes about consumer information about companies and brands. Customers have developed enhanced ability to access customer service and support. The trend has resulted from the digital technology advancement and the fact that many people have access to digital information than few years back. The people are currently demanding more digital information for B2B that the companies are providing. Consumers have the freedom to seek for an online option in the form of companies with better offers. The increased access to consumer-targeted information has been accompanied by the growing tendency to increase due diligence before making decisions (Accenture Interactive and Hybrid, 2015). Consumers are now capable of making an informed decision with minimal interference, which is an improvement for the previous trends in consumer decision making. Despite the cited minimal interference in decision-making, the effect of consumers influencing others in making a decision cannot be disregarded. With increased information, consumers can use informed sentiments to convince other customers. The situation can prove to have a greater influence when it comes to consumers making. The current
consumers have a tendency of taking a short time to make the decision to purchase a commodity. The online channels have increased the convenience and consciousness of the consumers in making a quick informed decision. A simple flow of events can be used to explain the consumer behavior when it comes to B2B commerce. Customers discover a product, make consideration, evaluate the products, purchase and finally use. Even though the feedback may not be provided, the first experience serves a great deal for the next purchase decision. In some cases, the purchasing behavior may not adopt the linear model.
Relating trends and behavior
There is a strong link between consumer trends and the decision they make as far as purchase of products is concerned. As it has been indicated, the consumer trends have been influenced greatly by technology in the information and communication sector. People no longer have to rely on limited media to access product information. Most consumers are using the technological advancement to access
product information quickly. Though the online purchases may not be high as expected, researchers have predicted a future that would witness an increased number of online purchases. Statistical predictions have revealed that the online purchases would increase by over 70 percent. Consumers make decisions that are more informed before they can make purchases and specifically
use the online option.
The current trend in technological advancement and the increased access to
consumers to the online space, it is only reasonable to conclude that the businesses will have to increase information sharing (Accenture and Hybris, 2015). The information age is likely to have more effect on consumer behavior that it was in the past few years. Increased access to information has also been singled out as one factor that might increase independent decision-making before purchasing.
Consumers tend to have an enhanced means to access product information than before. The situation presents businesses with an important opportunity to conduct cheap but efficient product advertisement and branding. Business firms must manage brands by engaging in continues but reasonable product development and promotion. Business must also improve their online shops regarding access and security to win the trust of consumers.
Accenture is one of the top B2B companies in the United States that has been concerned with the current consumer behavior and trends. The main factor that dictates a change in consumer behavior is technology in the information and communication sector. The increased access to inline information by consumers has also increased the amount of information these consumers get. The trends have also increased the consumers ability to make informed decisions before they make any purchases. The development the consumer behavior and trends implies that businesses must embrace technology and provide consumers with the information and options they demand.
Accenture and Hybris. (2014). Building the B2B Omni-Channel Commerce Platform of the Future. Retrieved from Thought Leadership Paper: https://www.accenture.com/us-en/_acnmedia/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Dualpub_1/Accenture-Building-Omni-Channel-Commerce-Platform-Future.pdf
Accenture and Hybris. (2015). B2B Omni Channel Commerce Platform Transformation Platform: A SPortlight on the U.S. Retrieved from A Thought Leadership Spotlight: http://go.sap.com/docs/download/2015/04/7cf7f02b-397c-0010-82c7-eda71af511fa.pdf
Accenture Interactive. (2015). Channel Shift: Measuring B2B Efforts to Shift Customers Online. Retrieved from Accenture Digital: https://www.accenture.com/_acnmedia/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Digital_1/Accenture-Channel-Shift-Measuring-B2B-Efforts-Shift-Customers-Online.pdf
Accenture Interactive and Hybrid. (2015). Mastering Omni-Channels B2B Customer Engagement. Retrieved from The Leadership Paper: https://www.accenture.com/_acnmedia/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Digital_3/Accenture-Mastering-Omni-Channel-B2B-Customer-Engagement-Report.pdf
Accenture International. (2014). Customer 2020: Are You Future-Ready or Reliving the Past? Retrieved from Accenture Strategy: https://www.accenture.com/t00010101T000000__w__/it-it/_acnmedia/Accenture/Conversion-Assets/DotCom/Documents/Local/it-it/PDF_3/Accenture-Customer-2020-Future-Ready-Reliving-Past.pdf