When it comes to B2B marketplaces, there is still one 900-pound gorilla that dominates everyone else.
With more than 6 million customers, Amazon Business is out to beef up those numbers, according to data and analysis in the recently published 2024 B2B Marketplace 750 research report from Digital Commerce 360.
One of its newest strategies is stepping up its focus on small and midsized businesses with an offer to join at a steep discount the Business Prime Essentials membership program, which provides up to three registered buyers perks like free, expedited shipping, extended payment terms on purchases, guided buying services and visibility into spending activity, plus 2% cash back on Amazon Private Brands purchases and rewards points that can run up to $1,000 each year.
“From the neighborhood cafe to the local firehouse, small and medium-sized businesses are the heart of communities across the country, and Amazon Business is committed to championing their growth,” says Todd Heimes, vice president of Amazon Business.
Amazon Business already claims $35 billion in annualized gross merchandise sales — and it launched just eight years ago. But market analysts figure it far from reaching a sales plateau.
Colin Sebastian, an R.W. Baird & Co. investment analyst who has accurately forecasted Amazon Business’s sales growth in recent years has projected $80 billion in gross sales, including many by third-party sellers, before the end of this decade.
60% of buyers do more than a quarter of their purchase on Amazon Business, a Digital B2B Buyer Survey found. And 28% say they do more than half. But another 12% say they “don’t buy anything” on Amazon Business — and 29% say they buy on other marketplaces.
Amazon Business is the dominant marketplace, the industry’s most influential marketplace, and by far the biggest, accounting for about one transaction of every four Digital Commerce 360 projects.
More Charts & Data articles
Check back soon for more Charts & Data articles, like our weekly B2B infographics. Here’s last week’s. We add new content regularly.
Sign up
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at mark@digitalcommerce360.com. Follow him on Twitter @markbrohan. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube.
2024 B2B Marketplace 750 Report
Analyzing the leading 750 U.S., European, and global B2B online marketplaces