E-shopping for business needs saves time, money

by Randal C. Langdon

for the Business Journal

Whether your company is a billion-dollar Fortune 500 giant or an entrepreneurial upstart, there are two resources that are always in demand: time and money.

It's no wonder, then, that more people are turning to the Internet to buy the products and services their businesses need. The Web allows them to research a product, find the best price, pay for it and have it delivered right to their door Ð without ever having to leave their desks.

As a result, sales generated from online business shoppers are expected to double over each of the next four years.

According to Forrester Research, a Cambridge, Mass., Internet research firm, business-to-business e-com-merce will explode from $43 billion in 1998 to $1.3 trillion by 2003, accounting for 9.4 percent of total business sales.

For example, last year Merrill Lynch began providing online shopping through its own Merrill Lynch Online Merchant Center, where every day thousands of its individual and business clients can shop for thousands of items, from computers and office supplies to groceries and gardening tools.

For both business and personal needs, e-commerce is providing real solutions.

Computerizing your business. Not surprisingly, computers and computer-related products are among the most popular online purchases. Whether you want a new computer, a refurbished system or a deal on a discontinued model, there are countless sites that can help.

A good place to start your research is with the Web sites of major computer magazines, many of which offer unbiased advice and price comparisons.

Once you've completed your research, there are plenty of online retailers to make your purchase. Bargain hunters may want to try some of the online auction houses.

And, of course, don't forget the sites of the computer manufacturers themselves, some of which will allow you to configure your own computer.

However, be sure to research any retailer before buying or handing over your credit card number. Ask about the retailer's return policies, sales tax rates and shipping costs, all of which can vary dramatically. Shipping costs, for example, can range from being free to costing several hundred dollars.

Once you've bought your computer, shop for computer books and other reference materials at online bookstores.

Stocking your shelves. The Internet is also a good place to shop for office supplies. Instead of driving to your nearest office-supply superstore, you can easily compare prices online. There are numerous online-only retailers, as well as the Web sites of major chains.

Of course, before you stock your company's shelves, you may need some basic office furnishings. This too can be accomplished on the Web.

In search of services. If you find it time-consuming to research vendors and service providers, consider doing your next search online. Whether you are looking for a print shop that specializes in small print runs, an advertising agency with a particular expertise or a cleaning ser-vice, online business directories can be an invaluable resource.

Need that special gift for your best client? There are numerous sites that can offer flowers, gift baskets and other thank-you packages.

Even traditional mail is more efficient with the Internet via online tracking of shipments.

When business communication requires nothing less than a traditional one-on-one meeting, you can even book your hotel and airline online. The number of online booking sites is growing, and some are offering perks like extra frequent-flyer miles. Of course, while good deals are plentiful, booking online does not necessarily guarantee a lower rate. As with other online purchases, it's important to clarify refund policies and comparison shop for prices.

Use good business sense. While the Internet is a quick and convenient way to do your business shopping, be aware that the ease of setting up a Web page makes it ripe for business scams. If you are not familiar with a retailer, check out its reputation with an independent source.

Meanwhile, there are plenty of deals for the savvy shopper. As competition heats up, online retailers are luring customers with all kinds of incentives, including new-customer discounts, site-sponsored coupons, cash-back offers and competitive price matching. Those kinds of savings can help boost the bottom line of any business.

(Randal Langdon is first vice president and senior director of the Merrill Lynch digital business development group.)