Launched in 2017, Amazon Business (ABIN) is a B2B marketplace offering business supplies and products to small and medium businesses such as small offices, entrepreneurs, department stores, Kirana stores, pharmacies, clinics, hospitals , hotels and restaurants at wholesale prices.
By providing technological and GST-enabled solutions on 99.5% PINs across India, coupled with competitive pricing and an extensive delivery network, Amazon Business has become a one-stop solution for all business needs. company with over 30% of customers coming from Tier II and III markets.
“ABIN has enabled Micro, Small and Medium Enterprises (MSMEs) to accelerate their business and increase their efficiency by reducing the overall cost of procurement. Companies in the most remote regions of the country can rely on the platform for their purchasing needs. With 15 crore of GST products offered by 3.7 lakh vendors, ABIN currently hosts the largest selection of GST in India. Additionally, we have launched several features – allowing businesses to access GST invoices, further allowing them to claim input tax credit using these invoices. This is an additional 5-28% savings opportunity for small businesses,” says Suchit Subhas, Director of Amazon Business.
“Over the past 4 years, we have added a host of features such as multi-user account, order approval and shared payment method to help businesses increase transparency while meeting customer needs. Businesses also have access to sophisticated analytics tools that help them understand in detail their spending and where they can save more,” he adds.
Adapt to changing consumer behavior
Amazon Business has adapted to changing business needs by launching new business-focused solutions. It helps Indian SMEs to run their business more efficiently by helping them manage their indirect expenses to reduce the overall cost of procurement.
“Amazon Business offers a wide selection of products in all categories for all business needs and has made available thousands of sellers to assist customers with multiple quotes. Customers can see multiple offers of the same product for easy price comparison and all purchases are delivered through the trusted delivery experience,” says Subhas.
“We have also helped MSMEs solve their GST compliance issues by providing GST-compliant technology solutions designed specifically for businesses. Businesses just need to create a free Amazon Business account and enjoy a hassle-free experience. Apart from this, ABIN has launched Bill to Ship to, Business PAN, Commercial Store among other innovative features,” he adds.
To help businesses adapt to the new normal and manage their business remotely in the work-from-home setup, ABIN has launched the “Bill to Ship To” feature. With this feature, Amazon Business has taken the lead in resolving this unique customer issue and offered a solution that allows them to claim GST credit on their billing address for their pan-India shipments. This convenient feature allows customers to consolidate the tax credit into one state and use the GST credit more efficiently.
“Over the past year, ABIN has worked in tandem with its vendor partners to help businesses meet their work-from-home needs. We recently launched the Commercial Store, offering the best products for all business needs in categories such as Business Laptops, Networking Peripherals, Industrial Adhesives, Tools & Equipment, and Safety & Security among the top brands such as Lenovo, Cisco, Pidilite, Kimberly Clark, Stanley Black. and Decker, Kirloskar. The COVID Supply Store is also a one-stop-shop for COVID 19 essentials such as PPE kits, masks, face shields and sanitizers,” he says.
“We have launched Business PAN as an additional type of license through which MSMEs with an annual turnover of less than Rs 20 lakh, educational institutions and NGOs who do not have a GST certificate can register and enjoy the benefits of Amazon Business. These businesses can now access a range of benefits such as exclusive offers, wholesale discounts and other business-relevant features that were not previously available,” he adds.
In 2022, ABIN’s focus will remain on increasing its selection by bringing big brand launches, exciting retail offers for wholesale purchases and new innovations for customers.
Strengthening the presence of sellers
Amazon Business offers sellers an additional opportunity on Amazon.in to scale their B2B business by meeting the demands of thousands of business customers and increasing their revenue. In addition to meeting MSME customer requirements, its vendors have fulfilled orders from companies across the country, including large companies such as Mahindra, GE, Tata Group.
“Our sellers have had the unique opportunity to fulfill hundreds of thousands of bulk orders from businesses across the country, through features such as ‘Quantity Discount Request’. Our business partners view Amazon Business as leverage important to increase their revenue and we have seen the number of sellers selling on our platform grow from 14,000 in 2017 to 4lakh+ in 2021,” he says.
“To help businesses with additional savings opportunities, we have launched MSME Accelerate, a B2B-focused program to help small businesses kick-start their post-lockdown operations. Over 3,000 sellers participated in the latest edition of MSME Accelerate, resulting in a +30% increase in buying customers and a 35% increase in order participation. The company offers exclusive offers and wholesale discounts. Additionally, Business Analytics helps small business owners improve their decision-making with customized and robust analytical reports created based on their business spend,” he adds.
How bright is the future?
In 2021, ABIN experienced exponential growth of over 70% YoY in its customer base, making Amazon Business’ Indian market the second largest after the United States. There has been significant growth in Tier II and III registrations, with over 30% buying customers and 25% orders coming from small towns.
“This year, Amazon Business will continue to remain customer-obsessed to create the right customer experience. We will continue to provide convenient and innovative technology-driven purchasing solutions to our business customers and strive to be a one-stop-shop for businesses for their needs. Moreover, the goal is to respond to requests by seamlessly connecting sellers. Amazon Business will continue to build on our three strategic pillars of growth – selection, pricing and convenience,” he concludes.