How Amazon Business is Transforming Purchasing Departments
Amazon Business is a new competitive marketplace for B2B products which serves millions of business customers across the world by providing the selection, convenience, and fast delivery that customers love about Amazon UK.
Whether you are a sole trader, a buyer in a mid-size company or a procurement executive in a large multinational firm, Amazon Business has the products and services to serve your online shopping needs – and it’s never been easier.
Rise of the Millennial
In a world that’s becoming increasingly digital, online shopping is influencing B2B businesses more than ever and one significant contributing factor lies in the increase of Millennials moving into purchasing departments.
According to a recent study by Merit, more than 70% of 20-35-year-olds are involved in product or service purchase decision-making at their companies, with one-third reporting that they are the sole decision-maker for their department. Millennials have grown up being exposed to shopping apps, comment functions and product reviews, so they are a natural fit for digital procurement roles.
What other factors are driving up the demand for B2B maketplaces?
The latest analysis in the Hackett Report reveals that global companies could reduce their purchasing costs by around a quarter through digital processes. This means that the so-called ‘tail-spend’ – or purchases that often take place outside formal procurement procedures and which are not directly required for production – can be made leaner.
In any business, expenditure can lead to cost-saving opportunities if managed in a certain way and David Brittain, Senior Manager at Amazon Business, is delighted to see a variety of companies benefiting from this:
“The Amazon Business customers I have spoken to are making significant savings in both time and money. For example, an international travel company estimates it is saving around 19% of total costs, including time savings for product research, reduced costs due to competitive pricing and free shipping. A nursery is saving 60% on costs everytime it opens a new site, freeing them up to focus more on delivering a good childcare service. Amazon Business makes it possible for companies of all sizes to streamline processes and control costs, while making more reasoned purchasing decisions by comparing products and suppliers.”
Amazon Business’s Pay By Invoice option is also enabling customers to save money by allowing them to obtain goods now and pay for them 30 days later (subject to credit checks).
Thousands of small and medium-sized companies have already seized the opportunities offered by digital procurement, and it’s possible that we’re only beginning to scratch the surface of what B2B marketplaces can offer. You can register for a free account today and enjoy access to over a hundred million products, whilst saving your business time and money.