Amazon has been in the news for the last several weeks for acquiring a major grocery chain as well as several tech startups, with the goal of becoming a one-stop shop for all consumer goods. However, Amazon isn’t just going after retailers and grocery stores it is also capturing a significant share of the business supplies space as well.
Amazon Business, a marketplace launched in 2015, now has over one million customers, more than tripling in size from last May. It also has more than 85,000 sellers on its platform which is up from the 30,000 it had last year. The company offers other services like business analytics and loans to its sellers in the U.S., U.K., and Germany.
The growth reflects Amazon’s continued expansion. In a report last year, RBC Capital wrote, “The Business Supplies total addressable market is attractive ($5 trillion) and Amazon’s offering is unique and leverages Amazon’s core competencies. We believe Amazon Business has significant potential to be Amazon’s Fourth Pillar.” The other pillars are the marketplace, Amazon Prime, and Amazon Web Services.
Last year, Amazon Business disclosed that it saw over $1 billion in sales in its first year of launch.
Here is further information on the services that Amazon Business provides:
Megha Shah for TechFunnel.com