The survey, which involved over 900 participants, sheds light on the factors that are driving supplier selection, loyalty, and purchasing decisions within the industry.
The survey, which concluded in July 2024, marks a major step toward understanding the buyer community’s evolving needs and the trends shaping their purchasing behaviour. Conducted to capture feedback directly from industry professionals, the survey provided Farnell with a unique opportunity to gain actionable insights into what buyers value most.
The research revealed several key insights into what matters the most to today’s B2B buyers, including:
- The high level of autonomy that buyers enjoy indicates a shift toward more self-directed procurement processes.
- The limited use of automation in purchasing workflows suggests significant opportunities for increased efficiency through technology adoption.
- Respondents emphasised the critical importance of price and product availability as primary factors influencing their choice of distributors, highlighting the competitive nature of the market.
Commenting on the report’s findings Daniel Ford, Vice President Sales EMEA, Farnell, said that the findings were invaluable and would help Farnell to enhance its offerings and better align them with its customers’ needs.
“This feedback allows us to continue improving our services and bring even more value to our partners in the electronics industry,” Ford concluded.
Based on the survey’s findings, Farnell has published a comprehensive whitepaper titled ‘Shaping the Procurement Future,’ providing a guide for buyers navigating today’s dynamic market, addressing the challenges and trends that impact the process of sourcing electronic components.
The whitepaper is now available to download on Farnell’s website, offering practical insights and strategies for electronics buyers and industry professionals.
For more information and to access the survey results and whitepaper, use the link below.
