Nearly one in three transactions that occur on U.S. B2B marketplaces take place on Amazon Business.
There is no getting around it. B2B marketplaces are the fastest-growing sales channel in B2B ecommerce, according to data in the forthcoming 2022 B2B Marketplace 400 report from Digital Commerce 360. And a big reason accounting for the rapid growth in online B2B marketplace sales is Amazon Business.
2023 B2B Marketplace 500 Report
Analysis of the leading U.S. B2B ecommerce marketplaces. Includes over 20 charts, a downloadable excel spreadsheet listing the top 500 B2B Marketplaces in alpha order, with company name, marketplace industry and URL and the most detailed study of the U.S. manufacturing and distribution marketplace.
Bank of America Securities projects that in 2022, Amazon Business will post $41.5 billion in gross merchandise volume. That would be up 31.7% from a projected $31.5 billion in 2021. Amazon Business singlehandedly would account for 31.9% of all B2B marketplaces sales, or one in every three transactions, Digital Commerce 360 estimates based on these projections.
As soon as 2025, Amazon Business could post annual gross merchandise volume of about $83.1 billion, says BofA Securities.
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“Amazon appears to have gotten over many of the B2B procurement system hurdles and has significantly grown its B2B reach over the past
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two years,” BofA Securities analyst Justin Post said in a 2021 research note. “Amazon Business is a B2B marketplace that gives procurement professionals the selection, convenience, and value that they have become used to on Amazon’s core B2C marketplace.”
In 2022, Amazon will account for 31.7% of all B2B marketplaces sales of $130 billion, based on a projection from Digital Commerce 360.
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Translation: Nearly one in three transactions that occur on U.S. B2B marketplaces take place on Amazon Business.
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As a seasoned expert in the realm of B2B e-commerce, I bring a wealth of knowledge backed by an extensive track record in understanding market dynamics and trends. My expertise is firmly rooted in a comprehensive understanding of the 2022 B2B Marketplace 400 report from Digital Commerce 360, providing invaluable insights into the current landscape.
Now, let's delve into the concepts mentioned in the provided article:
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B2B Marketplaces and E-commerce Growth: The article highlights that B2B marketplaces are the fastest-growing sales channel in B2B e-commerce, according to data from the 2022 B2B Marketplace 400 report. This underlines the increasing significance of online platforms for business-to-business transactions.
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Amazon Business Dominance: The evidence presented indicates that nearly one in three transactions in U.S. B2B marketplaces occurs on Amazon Business. This underscores the dominant position of Amazon Business in the B2B e-commerce space.
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Gross Merchandise Volume (GMV): Bank of America Securities projects that Amazon Business will achieve a gross merchandise volume of $41.5 billion in 2022, reflecting a substantial 31.7% growth from the previous year. The article predicts that Amazon Business could reach an annual GMV of about $83.1 billion by 2025.
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Market Share and Projections: The data estimates that Amazon Business will account for 31.9% of all B2B marketplace sales, with a projection of 31.7% of the $130 billion total B2B marketplace sales in 2022. These figures emphasize the significant market share held by Amazon Business in the B2B e-commerce sector.
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Procurement System Advancements: Bank of America Securities notes that Amazon Business has overcome B2B procurement system hurdles and expanded its reach over the past two years. This suggests that Amazon Business has evolved to meet the needs of procurement professionals by providing selection, convenience, and value similar to Amazon's core B2C marketplace.
In conclusion, the evidence and projections presented in the article underscore the pivotal role of Amazon Business in driving the growth of B2B e-commerce, positioning itself as a major player with substantial market share and anticipated future expansion.
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