Already claiming 6 million customers and $35 billion in annualized gross sales after having launched eight years ago, Amazon Business is headed for much higher sales volumes in the not-to-distant future, according to Wall Street analysts who have accurately predicted the B2B marketplace’s growth in recent years.
Colin Sebastian, an R.W. Baird & Co. investment analyst who accurately forecasted Amazon Business’s $25 billion gross sales mark for example, has projected $80 billion in gross sales before the end of this decade.
One way Amazon Business is moving toward much higher gross sales volume, analysts say, is by expanding sales to small businesses.
There are 33 million small businesses in the United States, according to the Small Business Administration. It defines a small business as an independent business with fewer than 500 employees. Moreover, the SBA notes that 81% of U.S. small businesses — 26.5 million — are solo operators with no employees.
Enter Business Prime Duo
This week, Amazon Business reached out to solo business operators by offering them a new Business Prime deal with perks like spending analytics tools and free shipping. Called the Business Prime Duo, it lets solo business operators who already have an Amazon Prime account at an annual $139 fee for their personal consumer spending to add a Business Prime account for no extra charge – a savings of $69 per year.
“Small business owners are passionate about what they do — and we know that many of them do it all by themselves,” says Todd Heimes, director, Amazon Business Worldwide, adding, “From product development and marketing to procurement and finance, these small-business owners wear multiple hats each and every day.”
Business Prime Duo provides the following at no extra fees:
- One-day and two-day delivery options on tens of millions of products, and free same-day delivery on eligible items in more than 90 metropolitan areas.
- An “Amazon Day” option to schedule delivery of eligible items on the same day each week; and a consolidated shipping option on large orders to receive goods in a minimal number of packages and deliveries.
- Customer survey and analytics tools to learn more about customer preferences.
- 90-day interest-free payment terms or 5% back on purchase transactions made with the Amazon Business Prime American Express card.
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