A rising tide floats all boats, and in the B2B marketplace industry, that boat is Amazon Business. According to data and analysis contained in Digital Commerce 360's newly published 2023 B2B Marketplace 500 report, no single B2B marketplace dominates the B2B marketplace more than Amazon Business.
Amazon Business already boasts 6 million customers and $35 billion in annual gross merchandise sales, but it's only been around for eight years, and market analysts say sales are far from plateauing.
Colin Sebastian, an investment analyst at R.W. Baird & Co. who has accurately predicted Amazon Business' sales growth in recent years, predicts that total sales, including those from third-party sellers, will reach $80 billion by the end of the century.
Amazon Business Leads B2B Marketplace
Many buyers say they buy from Amazon Business, a marketplace that reported in April that its total annual sales had reached “nearly $35 billion” — impressive growth for a marketplace that launched in 2015.
According to the Digital B2B Buyer Survey, 60% of buyers make more than a quarter of their purchases on Amazon Business, and 28% make more than half of their purchases on Amazon Business, but another 12% say they “never buy anything” on Amazon Business, and 29% say they buy from other marketplaces.
Amazon Business is the most influential and dominant marketplace in the industry and is by far the largest marketplace, accounting for approximately a quarter of transactions in Digital Commerce 360 projects.
Meanwhile, Amazon is also number three in the Global Online Marketplaces database, a ranking of the top 100 online marketplaces by Digital Commerce 360. Amazon is number one in the Top 1000, a ranking of North American online retailers by web sales by Digital Commerce 360.
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