Ease of doing business for MSMEs: Amazon’s online wholesale marketplace, Amazon Business, saw its seller base grow 4,543% to 6,50,000 sellers, from 14,000 sellers in the past five years, said Suchit Subhas, director of Amazon Business to FEAspire.
Launched in 2017, Amazon’s B2B e-commerce platform enables businesses to meet their sourcing needs by offering products such as food supplies, office furniture, stationery, copier paper, smartphones, laptops, electronics, office decoration, among others.
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“Five years ago, when we launched Amazon Business in India, our research showed that MSMEs could save 7-10% of their costs by having an efficient procurement process. Additionally, we have seen that due to manual purchasing processes and multiple vendors, indirect spend accounts for up to 20% of a company’s budget and takes nearly 80% of its time,” said said Subhas.
Today, Amazon Business has over 15 crores of products available with GST invoices for business purchases across all categories.
“We connect the seller directly to the business, which helps cut out the middleman, deliver faster deliveries and ensure market dynamics ensure competitive pricing,” he added.
Unlike Amazon’s app for customers, Subhas said, Amazon Business has features like multiple user accounts, a spend analytics tool to track shopping habits, the ability to request quotes for group purchases to allow companies to streamline their purchases.
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To commemorate five years since its launch, Amazon Business also announced the launch of Small Business Week, a week-long shopping festival from September 12-18, 2022 offering deals and offers to its customers.
For Amazon, Amazon Business in India is the second largest B2B market after the United States, according to the company’s statement. He claims there is a 35% increase in monthly active users which has resulted in a 111% increase in sales with over 30% of customer orders in Tier Two and Three cities.
Amazon Business launched the mobile app optimized for Android and iOS earlier this year. The B2B market competes with players such as Flipkart Wholesale, Reliance’s JioMart, udaan, IndiaMart among others.