A rising tide lifts all boats, and in the B2B marketplace industry, that vessel is Amazon Business. No single B2B marketplace dominates the B2B marketplace as much as Amazon Business, according to data and analysis contained in the newly published 2023 B2B Marketplace 500 report from Digital Commerce 360.
Amazon Business already claims 6 million customers and $35 billion in annualized gross merchandise sales — and it launched just eight years ago. But market analysts figure it is 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.
Amazon Business leads a B2B marketplace charge
Many buyers say they purchase from Amazon Business. The marketplace reported in April that it had reached “roughly $35 billion” in annualized gross sales. Nice growth for a marketplace that launched in 2015.
60% of buyers do more than a quarter of their purchasing 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.
Meanwhile, Amazon is also No. 3 in the Global Online Marketplaces Database, Digital Commerce 360’s ranking of the top 100 online marketplaces. Amazon ranks No. 1 in the Top 1000. The database is Digital Commerce 360’s ranking of North America’s online retailers by web sales.
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