Amazon Business is an expansion of what was once Amazon Supply, the wholesale site it launched in 2012. Amazon Supply marked the foray of the web giant into the highly remunerative world of B2B sales.
Amazon Business came into being in April, 2015. It has been one year since its birth and has generated $ 1 billion in its first year. The B2B industry, worth more than $ 8.2 trillion in the U.S., is being catered to through this platform, and is said to grow by 20% month-to-month.
What is Amazon Business?
Amazon Supply had only 2.2 million products, but Amazon Business has hundreds of millions of products, along with a whole string of beneficial features for the B2B or wholesale sellers.
“We’ve heard from business customers that they love the convenience of shopping online, and want an experience at work that is similar to how they shop at home,” said Prentis Wilson, Vice President of Amazon Business. “Amazon Business delivers a new and expanded marketplace that brings the selection, convenience and value of Amazon to business customers, manufacturers and sellers with the additional selection, features and back-end integration businesses need to save time and money.”
Amazon business offers a huge number of diverse products like office supplies, industrial products, lab equipment, food service items and much more catering to the small, medium and large businesses alike. The highlight is the availability of products that are ‘hard-to-find’ like traffic signs, industrial deep fryers, 55-gallon steel drums, dent pullers, etc.
A string of useful features can be seen here. The products under Amazon Business are not available to the normal retail customers. They provide products with special business discounts, they have tax exemption programs, purchasing approval to enable better spending controls, and the ability to use corporate credit lines to pay. They can also compare product prices from multiple sellers on a single page.
“Many B2B sellers are interested in launching their own commerce sites because of the many benefits they provide,” said Jason Daigler, Research Director for Digital Commerce at Gartner. “Amazon Business will be a viable service or supplementary offering for many of these sellers.”