Amazon Business Experiences Exponential Growth, Now Has 1 Million Customers

Amazon Business Experiences Exponential Growth, Now Has 1 Million Customers
Share:

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:

Source: https://www.amazon.com/b2b/info/amazon-business?layout=landing
Source: https://www.amazon.com/b2b/info/amazon-business?layout=landing

Megha Shah for TechFunnel.com


Share:
Megha Shah
Megha Shah
A dreamer, traveler, aspiring entrepreneur and a bookworm beyond repair, Megha Shah is extremely fond of writing and has been doing so since she was a child. Apart from being a part-time writer, Megha is currently in college, pursuing B. Com. (Hons). Megha is an ardent follower of ‘Hardship, Hustle and Heart’ and firmly believes in the power of hard work and destiny!

Similar Articles

Additional Resources to Download

Top