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E-sourcing to double in five years, says TDC

Buyers and suppliers are shifting their media consumption and budget to the Internet, says a Trade Development Council survey.

A total of over 7,000 suppliers and buyers from Hong Kong and around the world were surveyed in late 2005 to study the latest sourcing and promotion trends.

According to the survey, buyers' sourcing preference is shifting towards Internet, in a pace faster 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.

TDC's Head of Publication and E-Commerce Clare Wong said: "Buyers in the world market, especially those in the US and EU are now diversifying into the e-platform to look for new suppliers. Hong Kong's small-and-medium enterprises need an e-strategy to align with the new sourcing trend."

According to the survey, buyers using e-sourcing channels prefer detailed and updated information of products, as well as accurate search results. Fancy multi-media content is not important.

To equip Hong Kong SMEs and their business partners around the world to promote and source efficiently and easily on the Internet, TDC launched an upgraded version of tdctrade.com, its trade promotion website on the Internet today (March 1).

A powerful sourcing platform supported by 600,000 quality buyers and over 100,000 suppliers is fully integrated into the portal to enable more SME suppliers to get access to buyers around the world any place, any time.

The e-sourcing and promotion platform is backed by a state-of-the-art search engine which enables efficient and accurate product search.

E-sourcing is only part of thewebsite's enhanced features. The new interface of tdctrade.com provides simple and user-friendly navigation to tens of thousands pages of industry and market information through six "tabs" on the front page, namely sourcing, Hong Kong trade events, worldwide trade events, market intelligence, industry focus and small business resources.

Contents and services on tdctrade.com are supported by TDC's global network and over 200 partners.

tdctrade.com first went online in 2000 and has since established itself as the largest online source of business information and services on Hong Kong, the Chinese mainland and the world market.

It offers links in eleven languages including English, Chinese (traditional and simplified), German, Spanish, French, Italian, Portuguese, Japanese, Korean, Arabic and Russian

tdctrade.com was voted "the best trade promotion website in the region" among 12 trade promotion websites, in a ACNielsen survey.

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For press enquiries, please contact TDC's Corporate Communication at 2584 4333.

Reporters who wish to receive updated market information may subscribe the portal's e-newsletter via: www.tdctrade.com

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Content provided by Hong Kong Trade Development Council