Sunday, May 31, 2020

Millennials vs. Gen-X vs. Baby Boomers: The Next Generation of B2B Purchasing

Samantha Hausler
May 09, 2018

2 minute read

Historically, sales reps selling in the B2B world go door-to-door or phone-to-phone pitching to prospects and pushing to close a deal. But, times have changed. Buyers don’t have the want or time to pick up the phone or open their office doors. Even if they did, they don’t expect to need to. For example, 70% of cross-generational buyers surveyed in The Next Generation of B2B Purchasing: Millennials, Marketplaces, and Digital Buying Preferences value the fewer negotiations and improved sales processes of online marketplaces.

Digital channels haven’t only helped solve for these preferences, but have drastically sped up the buying process. Expectations of faster digital selling aren’t just a Millennial demand—Gen-X and Baby Boomers are taking notice of the “amazing experiences” sellers are providing on digital channels too. They find more personalized options, better availability of those options, and on-time delivery of the option they choose.

Here’s a deeper look at how Millennials, Gen-X, and Baby Boomers are redefining the landscape.

The Next Generation of B2B Commerce

To learn more, download the full report, The Next Generation of B2B Purchasing: Millennials, Marketplaces, and Digital Buying Preferences.


The stats:

The Next Generation of B2B Commerce
Millennials, Gen-X, and Baby Boomers: How buying preferences are redefining B2B sales

  • 56% of buyers feel there’s a gap between traditional B2B buying experiences and their evolving needs.
  • 73% of buyers across generations generally use digital channels.

They prioritize the benefits of digital as:

  • 72% pre-ordering and back-ordering
  • 63% scheduling
  • 65% personalized recommendations

But, digital isn’t the only preferred method of purchasing:

  • 41% request for proposal (RFP)
  • 26% marketplaces
  • 14% person-to-person
  • 11% digital channels

And, preferences change by generation:

  • Millennials
    • 39% RFP
    • 31% marketplaces
    • 13% in-person
    • 10% digital channels
  • Gen-X
    • 31% RFP
    • 29% marketplaces
    • 12% in-person
    • 15% digital channels
  • Baby Boomers
    • 56% RFP
    • 19% marketplaces
    • 15% in-person
    • 7% digital channels
Samantha Hausler
Samantha Hausler is a bit obsessed over digital tech trends, coffee, travel, brunch, and reality TV. Samantha is a Marketing Strategist for Oracle CX with over 9 years of experience in the industry. by Oracle is the destination for professionals who are building the next generation of customer experience. Here, you can find breaking news, in-depth analyses, expert insights, and useful tools that will empower you to think and work progressively.