A McKinsey survey finds that the Chinese B2B decision-makers are responding quickly to COVID-19, though actions and customer preferences vary.
About two-thirds are optimistic about the economy as of the end of April 2020, up 12 percentage points from two weeks earlier.
China is more optimistic compared to other regions covered in the McKinsey survey, behind only India.
China is decelerating its budget reductions more than APAC on average.
The pharma and medical products industry in China is experiencing the most significant budget decline.
More than 60% of China B2B companies have reduced their marketing. But the importance of digital sales has almost doubled.
Digital and self-serve channels are now seen as the most beneficial for finding B2B suppliers. And, mobile app research is up 400%; and, mobile app ordering has also risen 170%.
The majority of companies that serve other businesses have shifted their GTM model in re...
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