Walmart Business has published the results of a survey aimed at discovering the purchasing intentions of US businesses.

Younger business owners and operators aged 18-34 are expected to increase their supply budgets this year and invest more in technology than any other age group over the next 12 months, according to a key finding.

Sixty-one percent of owners and operators expect their company’s supply budget to grow this year. That number jumps to 78% among the youngest respondents (aged 18-34). When asked where they’ll be making investments over the next year, (58%) of those surveyed said technology (computers, A/V equipment, phones) is the most anticipated business essential, followed by office supplies and furniture (41%) and facility maintenance (38%).

Examining technology purchasing more closely, a quarter of business owners and operators said technological advancements have the most significant impact on their supply budgets. This number jumps to 37% for owners and operators aged 18-34. The survey also revealed that this group will invest in technology more than any other group over the next year.

One thing most owners and operators have in common is that they are highly selective when they make purchases. Cost, quality and convenience influence their buying decisions and define their top criteria for choosing suppliers:

  • 96% rate product quality and durability as important or very important
  • 93% consider cost a significant factor
  • 86% say the convenience of pickup and delivery plays a pivotal role in their supplier selection process

Source:
Walmart Business