Amazon is expanding Amazon Business, the platform for companies to purchase office supplies and services, by launching in Italy and Spain.
According to a report in the Financial Times, the expansion of the platform underscores Amazon’s aim to serve the corporate market. Amazon Business launched in the U.K. last year, and with an entrance in Italy and Spain, it is now up and running in five European markets where it offers consumer-focused eCommerce. Amazon Business is “off to a fast start,” said Steve Frazier, global vice-president for Amazon Business in an interview with the Financial Times.
Amazon Business is also available in India and Japan, with Frazier noting that business customers in the markets all have similar problems such as invoicing. Amazon Business, noted the report, has more than 100,000 customers in the U.K., and in the U.S. it has reached $ 1 billion in revenue in one year’s time.
In May Amazon launched Pay by Invoice. The feature, which requires no action or onboarding on the part of the vendor, enables corporate buyers to make invoiced purchases. The program reportedly launched on June 30 of this year. This effectively means that buyers no longer have to make payment for goods they buy on Amazon Business at the time of purchase. Instead, they are sent an invoice, with sellers receiving a credited balance to their Selling on Amazon account as soon as a buyer’s payment is processed.
The real attraction of Amazon Business to merchants is that it’s free to participate in, you just have to sign up to make your products available to buy. It also gives assess to corporate buyers who may never purchase from SMEs, let alone micro-businesses, as they’ll have an approved list of suppliers. If Amazon Business is on a company’s supplier list then so are you if your products are available through Amazon Business. Half of all units sold on Amazon Business are from independent, third party sellers, with tens of thousands in the UK having accessed the Amazon Business Seller feature set.
Amazon Business continues to expand globally and is now available on Amazon.com, Amazon.co.uk, Amazon.de, Amazon.fr, Amazon.it, Amazon.es, Amazon.in and Amazon.co.jp. Companies of all sizes with establishments in those countries now have the opportunity to purchase business supplies in their local language and receive local delivery.
Amazon Business provides easy access to more than 250 million products that any business can use – everything, from laptops, and office supplies, to industrial safety and janitorial supplies – with a set of unique features tailored for business customers.
One year after launching in the UK, Amazon Business served more than 100,000 business customers – from sole traders and small businesses to large multi-national organisations and FTSE 100 companies, as well as institutional buyers like universities, hospitals and non-profits.