The document summarizes findings from surveys of business-to-business decision makers in China on how supplier interactions and sales models have changed during the COVID-19 pandemic. Some key findings include:
- Most interactions with suppliers have shifted from in-person to remote or digital formats. Over 70% of respondents prefer remote or digital interactions over in-person meetings.
- Four in five respondents believe the new remote and digital sales model is as effective or more effective at reaching and serving customers compared to before the pandemic.
- Revenue from e-commerce and video conferences have increased substantially, now driving the bulk of revenues for many companies.
- Most respondents expect the shift to remote and digital sales models to persist
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Consumer optimism in Saudi Arabia has remained steady since mid-March, but spending patterns have changed to focus more on essential goods.
In KSA, a smaller proportion of consumers saw a decline in income and savings, but more than half continue to report a decline. The effect is seen in spending patterns and new habits adopted by consumers. Category spending indicates that consumers are stocking up in anticipation of the country’s upcoming tax increase on July 1, 2020. Consumers are not yet fully comfortable going back to “regular” out-of-home activities and are waiting for milestones beyond government lifting restrictions to return to normal patterns. Thus, they have started adopting new digital and low-touch activities, including grocery delivery.
These exhibits are based on survey data collected in KSA from June 16–18, 2020. Check back for regular updates on KSA consumer sentiments, behaviors, income, spending, and expectations.
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Although Japanese consumer optimism about economic recovery is improving steadily, the majority of consumers are still cautious about reengaging in out-of-home activities.
These exhibits are based on survey data collected in Japan from February 24–27, 2021. Check back for regular updates on Japanese consumer sentiments, behaviors, income, spending, and expectations.
Chinese optimism has improved to the highest level since March. Most Chinese consumers expect their routines and finances to return to normal within three months.
These exhibits are based on survey data collected in China from September 16–24, 2020. Check back for regular updates on Chinese consumer sentiments, behaviors, income, spending, and expectations.
Since May 2020, more Canadians are feeling more pessimistic about the economic recovery and believe COVID-19 will have a lasting impact on the economy .
These exhibits are based on survey data collected in Canada from August 14–19, 2020. Check back for regular updates on Canadian consumer sentiments, behaviors, income, spending, and expectations.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Central American consumers from Panama, Costa Rica, Guatemala, Honduras, and El Salvador are most concerned about their safety, the health and safety of their families, and public health generally during the COVID-19 crisis.
These exhibits are based on survey data collected in Central America from September 1–11, 2020. Check back for regular updates on Central American consumer sentiments, behaviors, income, spending, and expectations.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
Colombian consumers are most worried about public health, caring for their families, and the country’s economy during the COVID-19 crisis.
These exhibits are based on survey data collected in Colombia from September 1–11, 2020. Check back for regular updates on Argentines consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Consumer optimism in Saudi Arabia has remained steady since mid-March, but spending patterns have changed to focus more on essential goods.
In KSA, a smaller proportion of consumers saw a decline in income and savings, but more than half continue to report a decline. The effect is seen in spending patterns and new habits adopted by consumers. Category spending indicates that consumers are stocking up in anticipation of the country’s upcoming tax increase on July 1, 2020. Consumers are not yet fully comfortable going back to “regular” out-of-home activities and are waiting for milestones beyond government lifting restrictions to return to normal patterns. Thus, they have started adopting new digital and low-touch activities, including grocery delivery.
These exhibits are based on survey data collected in KSA from June 16–18, 2020. Check back for regular updates on KSA consumer sentiments, behaviors, income, spending, and expectations.
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Although Japanese consumer optimism about economic recovery is improving steadily, the majority of consumers are still cautious about reengaging in out-of-home activities.
These exhibits are based on survey data collected in Japan from February 24–27, 2021. Check back for regular updates on Japanese consumer sentiments, behaviors, income, spending, and expectations.
Chinese optimism has improved to the highest level since March. Most Chinese consumers expect their routines and finances to return to normal within three months.
These exhibits are based on survey data collected in China from September 16–24, 2020. Check back for regular updates on Chinese consumer sentiments, behaviors, income, spending, and expectations.
Since May 2020, more Canadians are feeling more pessimistic about the economic recovery and believe COVID-19 will have a lasting impact on the economy .
These exhibits are based on survey data collected in Canada from August 14–19, 2020. Check back for regular updates on Canadian consumer sentiments, behaviors, income, spending, and expectations.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Central American consumers from Panama, Costa Rica, Guatemala, Honduras, and El Salvador are most concerned about their safety, the health and safety of their families, and public health generally during the COVID-19 crisis.
These exhibits are based on survey data collected in Central America from September 1–11, 2020. Check back for regular updates on Central American consumer sentiments, behaviors, income, spending, and expectations.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
Colombian consumers are most worried about public health, caring for their families, and the country’s economy during the COVID-19 crisis.
These exhibits are based on survey data collected in Colombia from September 1–11, 2020. Check back for regular updates on Argentines consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time. Please check back regularly for updates.
As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
New Standard for Customer Contact Performance
The world of customer contact was already changing dramatically. New channels were altering the way brands interacted with customers.
Automation was redefining the role of customer
engagement employees.
Cloud solutions and generational shifts were reshaping conceptions
about the traditional contact center environment.
Building Digital -First sales experiences for Enterprise SellersDemandbase
B2B buyer frustration with the sales process has grown 25% in the last year. The new generation of buyers are seeking a far more digital and hands-off buying experience, pushing today’s seller to innovate. Adapting to these new expectations isn’t easy. And, Enterprises can have it even harder – with larger teams, more complex org structures, and big audacious pipeline targets.
Download the full report here: http://bit.ly/2tmiJgS
For a copy sent directly to you, email us at info@ccwdigital.com
You’re investing in the customer experience. But is the experience you’re creating the one your customers actually want? Our CCW Digital Executive Report on the Customer Experience will answer that question.
CCW Digital surveyed everyday consumers about what they demand when it comes to the customer experience.
Some questions answered in this report:
- How many bad experiences will make a customer switch to a competitor?
- Will customers really pay more for a good experience?
- What are customers’ Top 5 demands when interacting with a business?
- What factors prevent businesses from meeting those demands?
- What are the most common customer complaints?
- How well do businesses respond to customer feedback?
- How do customers really feel about calling for customer service?
Get the report: http://bit.ly/2tmiJgS
Getting Started with Online-to-Offline Measurementbrandonwishnow
Although most marketers would agree that online-to-offline measurement is important for the future success of their business, it’s hard to know what steps to take to adopt this strategic initiative.
Ovative/group has found that when done correctly, online-to-offline addresses many of the most complex business problems by providing answers to questions such as: What is the impact of an online visit on offline sales? Does this impact vary by category or product type? What marketing channels influence offline most? And, can I use these channels to drive offline acquisition?
But how do you get started and ensure online-to-offline is a success for your organization? After attending this webinar featuring Ovative/group and LiveRamp you’ll understand:
– Why online-to-offline is important and how to prioritize it among other strategic initiatives
– Who within your organization needs to be involved and how to structure your team
– What technology is required to build online-to-offline measurement capabilities
– How to make digital marketing decisions based on enterprise metrics
Hilarie Koplow-McAdams, President Commercial SMB Unit for Salesforce, and Michael Lazerow, CMO of Marketing Cloud for Salesforce, made this presentation at the McKinsey Chief Marketing & Sales Officer Forum event in 2012.
Similar to McKinsey Survey: Chinese B2B decision maker response to COVID-19 crisis (20)
Spanish consumers are pessimistic about the economy. Rising prices, unemployment, and the invasion of Ukraine are top concerns, and consumers are trading down.
In Spain, consumers are most concerned about rising prices, unemployment, and the invasion of Ukraine. Their views of the current and future state of the economy remain pessimistic, at a level comparable to attitudes in the early months of the COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced money directed to savings and spent less on non-essentials. Of the 80 percent of consumers who have assumed new shopping behaviors in the last three months in search of value for money, more than half tried private labels. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money. However, 39 percent of consumers say they plan to splurge in 2022.
UK consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and consumers are trading down significantly.
In the United Kingdom, consumers are most concerned about rising prices and the invasion of Ukraine. Their views of the current and future state of the economy are extremely pessimistic, worse than throughout the entire COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced spend in non-essential categories. Almost two-thirds of consumers have assumed new shopping behaviors in the last four to six weeks, with more than four out of ten trying private label. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money.
COVID-19 is no longer among Italian consumers’ top concerns. Consumers remain pessimistic about economic recovery and inflation; many aim to reduce their spend.
Italian consumers are increasingly worried about the effects of rising prices and the invasion of Ukraine. Unemployment is a number-two concern for respondents in Gen Z, millennials, and the low-income group. Almost six out of ten share a negative view of Italy’s current economic state; hopes for an economic recovery are lower than during the entire COVID-19 pandemic. Consumers observed the highest price increases in groceries and gasoline. To cope with inflation, Italian consumers are changing their purchase behavior, shifting toward discounters and private labels. The leading factors for these choices are prices and value for money.
German consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and we see a significant down-trade in shopping.
In Germany, consumers’ top concerns are rising prices and the invasion of Ukraine, followed by climate change and COVID-19. Pessimism about the current and future state of the economy has eased but remains at a level comparable to attitudes in the early months of the COVID-19-pandemic. As spend for groceries and gasoline soared, consumers reduced money directed to savings and spent less on non-essentials. Of the 70 percent of consumers who have assumed new shopping behaviors in the last three months, more than four out of ten tried private labels. Trade-down in stores visited and brands is clearly visible, with the key drivers of choice being prices and value for money. However, 46 percent of consumers say they plan to splurge in 2022.
For consumers in France, inflation eclipses other sources of concern. It triggers changes in shopping behaviors as consumers seek better value for money.
French consumers’ optimism regarding the economic recovery is stable at around 14 percent—a level last seen in the depths of COVID-19 lockdowns. Top sources of concern are rising prices (cited by 54 percent), followed by the invasion of Ukraine (13 percent) and climate change (10 percent) and far ahead of COVID-19 (4 percent). Nine out of ten survey respondents perceive high price inflation in the country. These trends have implications for brand and retailer loyalty: of the 73 percent of respondents saying they have tried new shopping behaviors in the last three months, 40 percent say they purchased private labels. Household products remain the category most affected by this trading-down trend.
Japanese consumers’ behaviors and finances are gradually recovering to normal, though their responses indicate a slight increase in pessimism. The long-lasting impact of COVID-19 is prolonging Japanese consumers’ intent to stay conservative about spending across categories. In a further sign of cautiousness, the trend of shrinking pessimism over the past few years reversed for the first time. Meanwhile, people’s demand for travel is rising, considering the next seasonal vacations.
Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending.
In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
Most Korean consumers expect that normalcy will return to routines only after June 2022, yet there are signs of pre-COVID-19 routines returning.
Korean customers have been less optimistic than those in other countries about the economic recovery. But optimism in Korea is much higher now than two years ago. Half of consumers indicate a desire to splurge, with intent to do so being the strongest in Gen Z and millennials. One-eighth of consumers say they have returned to out-of-home activities.
As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown.
Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
Across the continent, the pattern holds: Europeans are anxious about the state of their countries’ economies, and worried about the future. Russia’s invasion of Ukraine and price inflation overshadow other concerns, and consumer anxieties in turn are impacting confidence in household finances and national economies, especially among vulnerable populations.
Worried about spending more on food, transport and fuel, consumers report cutting back on less essential items. Most say they’ve changed their shopping behaviors in recent months, trading down to more affordable brands and retailers. With no relief clearly in sight, 2022 continues to prove a challenging year for the continental consumer.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits.
Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown. Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
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Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
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McKinsey Survey: Chinese B2B decision maker response to COVID-19 crisis
1. McKinsey & Company 1
15
22
33 27
58 40
41 48
27
38
26 25
OrderingIdentifying and
researching
new suppliers
Considering
and evaluating
new suppliers
Reordering
Current way of interacting with suppliers’ sales reps during different
stages1,2
% of respondents
1. Q: How do you currently interact with sales reps from your company’s suppliers during the following stages of interactions?
2. Figures may not sum to 100% because of rounding.
In-person
interactions
Remote human
interactions
Digital
self-service
interactions
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
of B2B decision makers have
in-person interactions with
company suppliers
~25–40%
Most B2B supplier interactions are remote or
digital self-service
2. McKinsey & Company 2
17 23
35 30
53 47
42
45
30 30
24 25
Identifying and
researching
new suppliers
ReorderingConsidering
and evaluating
new suppliers
Ordering
Preferred way of interacting with suppliers’ sales reps during different
stages1,2
% of respondents2
1. Q: How would you prefer to interact with sales reps from your company’s suppliers during the following stages of interactions?
2. Figures may not sum to 100% because of rounding.
In-person
interactions
Remote human
interactions
Digital
self-service
interactions
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
of B2B decision makers prefer
remote human interactions or
digital self-service instead of
in-person interactions, citing
ease of scheduling, safety, and
savings on travel expenses as
their top three reasons why
~70–75%
This current remote and self-service sales model
is exactly what is preferred by B2B buyers
3. McKinsey & Company 3
Four in five B2B decision makers believe the new (mostly remote)
sales model is as effective or more so now than prior to COVID-19
Effectiveness of new sales model in reaching and serving customers1,2
% of respondents
5
25
21
43
6
7
40
23
28
2
51%
as effective
or more so
compared
to prior to
COVID-19 12
46
23
15
4
70%
as effective
or more so
compared
to prior to
COVID-19
81%
as effective
or more so
compared
to prior to
COVID-19
April 9 April 28 August 6
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #1 3/30–4/9/2020 (n = 400); McKinsey COVID-19 B2B Decision-Maker Pulse #2 4/20–4/28/2020 (n = 443);
McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 (n = 408)
Much less effective
Somewhat less effective
As effective as before
Somewhat more effective
Much more effective
1. Q: How effective is your company’s new sales model at reaching and serving customers?
2. Figures may not sum to 100% because of rounding.
4. McKinsey & Company 4
Both SMB and enterprise B2B decision makers view the new sales
model to be just as effective, or more so
1. Q: How effective is your company’s new sales model at reaching and serving customers?
2. Figures may not sum to 100% because of rounding.
3. SMBs are companies with annual revenue less than US $100 million.
4. Enterprises are companies with annual revenue equal to or more than US $100 million.
5
22
18
52
3
April 9
45%
66%
78%
Effectiveness of new sales model in reaching and serving customers1,2
% of respondents
SMB3 Enterprise4
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #1 3/30–4/9/2020 (n = 400); McKinsey COVID-19 B2B Decision-Maker Pulse #2 4/20–4/28/2020 (n = 443);
McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 (n = 408)
7
31
28
32
2
April 28
10
36
32
18
3
August 6
5
26
23
39
7
April 9
54%
71%
as
effective or
more so
compared
to prior to
COVID-19
82%
8
43
20
27
2
April 28
13
51
18
14
4
August 6
Much less effective Somewhat less effective Much more effectiveAs effective as before Somewhat more effective
5. McKinsey & Company 5
B2B decision makers believe the new model is just as effective for
prospecting as it is for existing customers
Effectiveness of new sales model at reaching and serving customers and in acquiring new
customers1,2,3
% of respondents
13
44
25
15
2
August 6
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 (n = 408)
Somewhat less effective
As effective as before
Somewhat more effective
Much more effective
Much less effective
82%
as effective or
more so
compared to prior
to COVID-19
1. Q: How effective is your company’s new sales model at reaching and serving customers?
2. Q: How effective is the new sales model in acquiring new customers (eg, those that have never purchased from your organization before)?
3. Figures may not sum to 100% because of rounding.
Current customers New customers
August 6
12
46
23
15
4
81%
as effective or
more so
compared to prior
to COVID-19
6. McKinsey & Company 6
The effectiveness of the new model has variations across industries
and customer interaction types
1. Effectiveness: % of companies who think new sales model is as effective or more effective.
2. Q: How effective is your company’s new sales model at reaching and serving customers overall?
3. Q: How effective is the new sales model in acquiring new customers (eg, those that have never purchased from your organization before)?
4. SMBs are companies with annual revenue less than US $100 million.
5. Enterprises are companies with annual revenue equal to or more than US $100 million.
Effectivenesss1 of new sales model in reaching and serving customers and acquiring new customers2,3
% of respondents
Effectiveness: % of companies who think new sales model is as
effective or more effective
<60% 61% to 70% 71% to 80% 81% to 90% >90%
Consumer/retail
Global finance, banking, and insurance
Travel, transportation, and logistics
Pharma and medical products
Global energy and materials
Technology, media, and telecom
Advanced industries
Overall effectiveness
Reaching and serving
customers
Reaching and serving
customers
Acquiring new
customers
Acquiring new
customers
SMB4 Enterprise5
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
7. McKinsey & Company 7
18
40
18
22
1
$500,000 to < $1 million
under $50,000
$50,000 to < $500,000
$1 million or more
I would not make a purchase via
end-to-end digital self-service
Remote and self-service is not just for low-value
purchases; a majority spend $50K or more
Maximum order value you would purchase through end-to-end digital self-service
and remote human interactions for a new product or service category1,2
% of respondents
1. Q: What is the maximum order value that you would purchase through end-to-end digital self-serve and remote human interactions for a new product or service category?
2. “I don’t know” option was offered but not included for analysis.
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
would spend more than
$50,000 on a completely
self-service or remote
interaction
98%
of B2B buyers might
make a purchase in a
fully end-to-end, digital
self-service model
~80%
8. McKinsey & Company 8
Before COVID-19 During COVID-19
The majority of B2B companies have shifted their go-to-market model
from traditional to digital, with heavy reliance on video and e-commerce
1. Q: In what ways was your company’s product or service sold before COVID-19?
2. Q: Now today, in what ways is your company’s product or service sold during COVID-19?
Go-to-market sales model during COVID-191,2
% of respondents
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
60
50
20
52
22
62
67
35
49
21
66
24
70
72
Traditional
Digital interaction
with sales rep
Digital
self-serve
In-person
Via videoconference (eg, sales reps interacting
with customers via Zoom, Teams, Skype, etc.)
Phone
Email
Online chat (eg, chatting with customers via web
chat, email, etc.)
E-commerce (eg, products/services sold directly
online with no sales rep involved)
Fax
X% % change
% change
-41%
-4%
5%
26%
9%
13%
7%
9. McKinsey & Company 9
1. Q: Approximately what percentage of your company’s revenue before COVID-19 was driven by…/during COVID-19 is now driven by…
2. Figures may not sum to 100% because responses under “other” option not included in analysis and because of rounding.
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
Before COVID-19 During COVID-19
E-commerce, videoconference, and online chat now drive the bulk
of revenue
-53%
-3%
17%
41%
42%
15%
11%
X% % change
Source of revenue before and during COVID-191,2
% of revenue % change
24
12
4
14
4
18
24
11
11
5
20
5
20
26
Traditional
Digital interaction
with sales rep
Digital
self-serve
In-person
Via video conference (eg, sales reps interacting
with customers via Zoom, Teams, Skype, etc.)
Phone
Email
Online chat (eg, chatting with customers via web
chat, email, etc.)
E-commerce (eg, products/services sold directly
online with no sales rep involved)
Fax
10. McKinsey & Company 10
Revenue from e-commerce and videoconference has increased across
both SMBs and enterprise companies
Source of revenue before and during COVID-191
% of revenue
1. Q: Approximately what percentage of your company’s revenue before COVID-19 was driven by…/during COVID-19 is now driven by…
2. SMBs are companies with annual revenue less than US $100 million.
3. Enterprises are companies with annual revenue equal to or more than US $100 million.
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
23
13
26
23
E-commerce Videoconference
During COVID-19
Pre-COVID-19
24
15
26
19
E-commerce Videoconference
14% and 80% 9% and 23%
increase in revenue from
e-commerce and
videoconference,
respectively, for SMBs
during COVID-19
compared to pre-COVID-19
increase in revenue from
e-commerce and
videoconference,
respectively, for enterprises
during COVID-19
compared to pre-COVID-19
SMB2 Enterprise3
11. McKinsey & Company 11
Video is almost always ‘more helpful’ than audio
alone
77
74
70
75
15
18
20
19
8
8
11
6
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
1. Q: How much more or less helpful is it to use video (eg, Zoom, WebEx, Teams) vs phone only in the following situations?
2. Q: What percentage of your customer meetings now take place via videoconference (eg, Zoom, Teams, Skype, etc.) where participants can see one other via video?
3. Q: If you are unable to physically meet in-person, for which of these commercial activities do you prefer video in addition to audio?
Helpfulness of video (eg, Zoom, WebEx, Teams) vs
phone only in different situations1
% of respondents
Meeting with others
in your company
Meeting with
existing customers
Meeting with
prospects
Meeting with
vendors/suppliers
Less helpful to use videoMore helpful to use video Neutral
of B2B customer
meetings now take place
via videoconference (eg,
Zoom, Teams, Skype,
etc.) where participants
can see one another
via video2
42%
B2B buyers also
believe video is
preferred for:3
Demonstration of
products/services
Pricing negotiations
Customer support/
trouble shooting
Day-to-day account
management
12. McKinsey & Company 12
Screensharing and seeing one other are the most helpful features of
videoconferencing
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
1. Q: What features/functionality of videoconferencing are most helpful for you?
75
69
58
44
40
Most helpful features/functionality of videoconferencing1
% of respondents ranking in top 3
Screensharing
Whiteboards
Breakout rooms
Annotation
Seeing one another
13. McKinsey & Company 13
5
22
37
28
8
One in three B2B companies has already reduced both their
in-person sales FTEs and number of physical locations
12
24
34
21
9
36%
companies reduced their
number of people (FTEs)
on their in-person sales
teams by more than 4%
due to COVID-19
30%
companies reduced their
number of physical locations
using in-person sales by more
than 4% due to COVID-19
Number of people (FTEs) in in-person sales
Number of physical locations3 using in-person
sales
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
1. Q: How has your organization changed your in-person sales team structure?
2. Figures may not sum to 100% because of rounding; “not applicable” option was given; however not included for analysis.
3. Dealerships, stores, branches, etc.
Reduced +11%
Reduced 4–10%
About the same
(within ±3%)
Increased 4–10%
Increased +11%
Changes to in-person sales team structure (changes already made)1,2
% of respondents
14. McKinsey & Company 14
-30 5-25 -15-20 -10 15-5
40
0 10 20 25
30
-30
-20
-10
0
10
20
Technology, media, and telecom
Advanced industries
Global energy and materials
Pharma and medical products
Travel, transportation, and logistics
Global finance, banking, and insurance
Consumer/retail
Many industries are seeing reductions in FTEs for in-person sales
and physical locations
Number of
physical
locations
using
in-person
sales
Number of people (FTEs) in in-person sales
Net addition1 of people (FTEs) to in-person sales and number of physical locations (changes already made)2
% of respondents
1. Net addition: % of respondents reporting reduction subtracted from % of respondents reporting increase.
2. Q: How has your organization changed your in-person sales team structure?
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
15. McKinsey & Company 15McKinsey & Company 15
Contents
The next normal of sales is here to stay—what it will take to succeed
16. McKinsey & Company 16
The next normal is here to stay: companies expect
the new sales model to persist
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #2 4/20–4/28/2020 (n = 443), McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 (n = 408)
1. Q: Which of the following statements best describe the changes your company has made to its commercial and go-to-market model during COVID-19?
Figures may not sum to 100% because of rounding.
Staying power of new sales models1
% of respondents
91%
are “very likely” and “somewhat
likely” to sustain these shifts
12+ months after COVID-19,
about the same
as April 2020
30
61
8
2
34
56
6
4
April 28 August 6
Very likely to sustain 12+ months after
Somewhat likely to sustain 12 months after
Unlikely to sustain 12 months after
Made no GTM changes
17. McKinsey & Company 17
3
9
36
36
17
Most B2B decision makers expect their sales force to have in-person
meetings in 2020, but they expect half of meetings to be virtual
8
49
39
5
12%
of B2B companies
expect to have
in-person meetings
again in 2021
57%
of B2B companies
expect to have less
than 50% in-person
interactions even
when their sales
force is able to
have in-person
meetings again
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
Quarter when sales force is expected to have in-person
meetings again1
% of respondents
In-person vs remote interactions (when your sales
force is capable of having in-person meetings)2
% of respondents
1. Q: When do you expect your sales force to have in-person meetings again? Figures may not sum to 100% because of rounding
2. Q: When your sales force is capable of having in-person meetings, what percent of interactions do you think will be in-person vs remote? Figures may not sum to 100% because of rounding.
76–100% in-person
51–75% in-person
26–50% in-person
1–25% in-person
Aug–Sep 2020
Oct–Dec 2020
Jan–Mar 2021
Apr 2021 or later
Already having
in-person meetings
18. McKinsey & Company 18
Most companies believe that their sales teams need both
skill building and technology for effective remote selling
1. Q: How much do you agree or disagree with the following statements?
2. Q: Thinking about your company’s future in the context of COVID-19, how much do you agree or disagree with the following statements?
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
91% 92% 92%
Additional skills
for in-person to
remote transition
Basic video technology Tech beyond
videoconference
“Strongly agree,” “agree,” and “somewhat agree”
84% 90%
Redesigned
sales trainings
New profiles
of sales reps
of B2B companies
believe that they
have both
capabilities and
technology to sell
today, however…
92%
93%
Have both capabilities
and technology to
effectively sell today
Need both skill building
and technology
92% companies
believe that they
need to further
develop both
capabilities and
technology
93%
B2Bs believe that their sales teams need to adjust to
the following terms1
% of respondents
Skills and technologies needed2
% of respondents
19. McKinsey & Company 19
Three in four B2B companies are looking to potentially reduce their
numbers of sales reps as they refine their overall sales model
36
73
Have already reduced Expect to reduce
going forward
2X
1. Thinking about your company’s future in the context of COVID-19, how much do you agree or disagree with the following statements?
2. How has your organization changed your in-person sales team structure?
3. For example, ability to shift sales rep territories or quotas mid-year to target higher-value opportunities.
73%
83%
93%
95%
Will be redefining sales roles to
focus on different sales methods
Will be decreasing the number
of sales reps
Need to switch to a different,
more dynamic resourcing model
Will introduce a more agile sales
planning process3
B2B companies believe that they need to adjust
to the following terms as new normal1
% of respondents
…and as an implication, future reductions
in the number of sales reps are expected1,2
% of respondents
“Strongly agree,” “agree,” and “somewhat agree”
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
20. McKinsey & Company 20
Companies expect to make other adjustments in addition to shifting
their sales model
1. How much do you agree or disagree with the following statements?
Source: McKinsey COVID-19 B2B Decision-Maker Pulse #3 7/31–8/6/2020 China (n = 408)
Chinese B2B companies believe that they need to adjust to the following terms as new normal1
% of respondents
% of respondents who agree (includes “strongly
agree,” “agree,” and “somewhat agree”) <60% 60% to 70% 70% to 80% 80% to 90% >90%
Overall
China
(all
industries)
Advanced
industries
Technology,
media, and
telecom
Global
energy and
materials
Pharma and
medical
products
Travel,
transport,
and logistics
Consumer/
retail
Will shift geographic
focus to areas of
lower risk for
COVID-19
Will introduce new
products or services
as a result of
COVID-19
Will increase focus
on the long-term
sustainability of their
products and services
Global
finance,
banking, and
insurance