The second annual study reveals strong interest
in online procurement across commercial, education, government,
nonprofit, and health care industries, along with increased focus
on corporate social responsibility
Amazon (NASDAQ: AMZN) – Amazon Business today released its
second State of Business Procurement Report, which shares
business-to-business (B2B) trends and new insights from U.S.
procurement professionals across industries and organizations of
every size. Amazon Business, launched in 2015, helps leaders
digitize and automate procurement with powerful management controls
and analytic tools—all within the familiar experience of Amazon.
For the report, which examines the rapid transformation of B2B
e-procurement in recent years, Amazon Business surveyed buyers who
hold influential procurement roles across commercial, education,
government, nonprofit, and health care industries in the U.S.
The report highlighted a number of trends, including:
- 91% of B2B buyers state a preference for online
purchasing.
- 58% of B2B buyers now make purchases that have to be delivered
directly to an employee’s personal residence, accommodating an
increasingly distributed workforce as a result of the COVID-19
pandemic.
- 84% of B2B buyers say their organizations plan to increase how
much money they spend with Black- or other diverse-owned
businesses.
- 63% of B2B buyers say that improving sustainability in their
purchasing practices is a top goal.
- Increases from last year’s report indicate a continued
prioritization of corporate social responsibility (CSR)
objectives.
“Procurement professionals continue to contend with a variety of
challenges in a rapidly evolving landscape. We’re constantly
looking for opportunities to improve the buying experience for our
customers, and our 2022 State of Business Procurement Report
provides actionable insights to procurement strategies and serves
to aid decision-makers as they continue their digital
transformation journey,” said Aster Angagaw, vice president of
commercial, public, and strategic sectors at Amazon Business.
“We’re proud to equip buyers across industries, organizational
sizes, and revenues with the tools needed to meet their business
goals and improve operations.”
Amazon Business can help business buyers overcome common pain
points like accessing a wider range of suppliers and managing
distributed purchasing. Purchasing optimization solutions like
purchase order and invoice, storage and sharing, approval
workflows, expense management, guided buying capabilities, and
replenishment solutions enable operational efficiencies across
entire organizations, not just in procurement. Amazon Business’
Smart Business Buying solutions empower purchasers to get what they
need, when they need it.
Download the 2022 Amazon Business State of Business Procurement
Report
(https://business.amazon.com/en/find-solutions/e-procurement). Key
takeaways include:
Business buyers maintain a preference for digital
procurement, and distributed deliveries are becoming the
standard
The COVID-19 pandemic accelerated digital transformation efforts
in the procurement space, and the 2022 State of Business
Procurement Report shows that the preference for digital is holding
strong. In fact, 68% of buyers said they plan to make at least 40%
or more of their purchases online by the end of the year—up from
56% of buyers in the 2021 B2B Evolution in E-Commerce Report.
Additionally, only 2% of respondents this year said they purchase
exclusively offline.
However, distributed purchasing and deliveries across more
locations are becoming a standard part of procurement. Today, more
than 1.7 million small and medium-sized businesses around the world
sell in Amazon stores. According to this year’s report, supporting
remote work is buyers’ third most important procurement goal,
behind only purchasing with local businesses and those with
sustainability-related certifications. Also, 46% of buyers are
responsible for making purchases for multiple offices; of those,
24% are tasked with supporting offices in multiple countries.
Buyers are price-conscious, but increasing support for
diverse-owned businesses and more-sustainable supplies is the main
driver of purchasing decisions
Even as businesses are facing growing concerns related to
inflation, supply chain disruptions, and economic downturn,
investment continues in smart business buying. The report shows
that the majority of B2B buyers’ budgets are increasing or holding
steady over 2021, and only 22% of respondents expected a budgetary
decrease this year.
However, while respondents said that cutting costs and
increasing efficiency were the areas most important for overall
improvement, three of the four most important procurement
priorities center around contributing to organizational CSR goals,
including supporting sustainable, diverse, and local businesses.
The report found that 91% of buyers take seller certifications into
consideration when purchasing. This mirrors consumer purchasing
behavior, where decisions are increasingly made based on a buyer’s
values.
Still, organizations face a particular challenge in achieving
sustainability goals. While 69% of B2B buyers work at organizations
that require an increase in purchases from sellers following
sustainable practices, 55% of buyers with sustainability goals say
it’s difficult to source suppliers that follow sustainable
practices. This presents opportunities for buyers to further
leverage seller certifications as part of their Smart Business
Buying strategy, closing the gap on sustainability-focused
goals.
Amazon Business’ State of Business Procurement Report
methodology
Amazon Business surveyed 440 B2B buyers across the U.S. in April
2022 using an online survey platform. Respondents included full-
and part-time employees across a range of job levels. Those
commercial organizations made at least $250 million in annual
revenue. Respondents work in the following sectors: commercial
industries (240), health care (95), education (60), and
government/nonprofit (45). All buyer respondents play an
influential role in their organization’s procurement process. This
report also references data from our 2021 B2B E-commerce in
Evolution Report, which surveyed 250 B2B buyers of similar
demographics between December 2020 and January 2021.
About Amazon Business
Amazon Business helps millions of customers worldwide—from small
businesses, schools, hospitals, nonprofits, and government agencies
to large enterprises with global operations—reshape their
procurement with cost and time savings, greater productivity, and
insightful purchasing analytics. Procurement and business leaders
enjoy convenient shipping options on hundreds of millions of
supplies across categories like office, IT, janitorial, food
service, and professional medical supplies. Customers also have
access to a variety of business-tailored features and benefits,
including a curated site experience, Business Prime, business-only
pricing and selection, single- or multi-user business accounts,
approvals workflow, purchasing system integrations, payment
solutions, tax exemptions, and dedicated customer support. Amazon
Business is currently available in the United States, Canada, the
United Kingdom, Germany, France, Italy, Spain, Japan, and India.
For more information, visit business.amazon.com,
www.amazonbusinessblog.com, and @AmazonBusiness.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220928005111/en/
Amazon.com, Inc. Media Hotline Amazon-pr@amazon.com
www.amazon.com/pr
Amazon.com (NASDAQ:AMZN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Amazon.com (NASDAQ:AMZN)
Historical Stock Chart
From Sep 2023 to Sep 2024