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Survey: Asian B2B decision maker response to COVID-19 crisis

B2B decision makers are responding quickly, though actions and customer preferences vary by region.

With governments and organizations still working to contain COVID-19 and stem the growing humanitarian toll it is exacting, the effects on customer behaviors are rippling across the B2B landscape. Through a series of regular, global surveys, 1 we are tracking how customers’ expectations, spending, and behaviors change throughout the crisis across multiple countries over time.

Highlights from the B2B Decision-Maker Pulse:

  • APAC B2B decision-maker optimism is relatively high and growing: Half (55%) believe the economy will rebound in 2–3 months (down from 47% in early April)
  • ~50% of B2B companies have already reduced their budgets; spend reductions in the next two weeks are more tempered (~40% reducing spend)
  • Preference for digital now ~2X more than traditional sales interactions; self-serve, digital ordering methods now prioritized
  • Remote selling is now the norm and perceived to be effective: 96% of B2B companies have shifted their GTM model during COVID-19; 70% believe the new model is just as effective or more than before (up from 57% in early April)
  • Sales model changes are expected to stay: 35% are “very likely” to sustain these shifts 12+ months after COVID-19 and another 48% are “somewhat likely” to do so

Please check back regularly for updates.

About the author(s)

Liz Harrison is an associate partner in McKinsey’s Charlotte office, and Ryan Gavin, Candace Lun Plotkin, and Jennifer Stanley are partners in the Boston office.

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