Saturday, March 04, 2006

Sourcing shift to Internet quantified

The result is not exactly earth-shatteringly surprising: international traders are turning to the Internet for sourcing. However, the Hong Kong Trade Development Council's recently released survey does put some substance and numbers to the trend which we are all aware is gaining pace.

One of the key findings from among the 7,000 surveyed are that buyers are shifting to the Internet more quickly than suppliers:

Only around 15 % of surveyed buyers said they used Internet for sourcing five years ago. 30%, or double indicated that they would turn to the Internet for sourcing in the coming five years.

14% of surveyed suppliers said they used Internet for marketing and promotion five years ago. 27% indicated that they would shift to the Internet five years later.

The survey was timed to coincide with a major revamping of the HKTDC portal which was launched on March 1.

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