Online Sourcing Becoming the Norm

More than half of industrial buyers source over 20 percent of purchases online, according to Thomas Register

New York — April 23, 2003 — Thomas Register and Thomas Regional this week announced the results of the March Industrial Purchasing Barometer (IPB) Survey, revealing that more than half of industrial buyers source at least 21 percent of their purchases online. Additionally, 16 percent source more than half of their purchasing online.

The recently expanded IPB survey was conducted randomly among Thomas Register's pool of 700,000 opt-in online users and Thomas Regional's Directory's pool of 375,000 opt-in online users. Survey respondents represent manufacturing and engineering segments, as well as wholesale trade, distribution, service providers and government agencies.

According to the survey, respondents have experienced the following benefits when purchasing online:
¥ Easier to place orders: 50 percent
¥ Access to more information: 24 percent
¥ Broader geographic reach: 18 percent
¥ Simpler payment processes: 8 percent

"The results further demonstrate the positive impact the Internet has had on increasing efficiencies throughout the industrial buying process," said Eileen Markowitz, president, Thomas Regional Directory Co. "As the buying process becomes more complex, the Internet increasingly helps buyers gain better access to information and simplifies the order and payment process."