Report: Amazon’s ‘Bolts and Beakers’ Business is Booming
FEATURE
Report: Amazon’s ‘Bolts and Beakers’ Business is Booming
MEDIA SPOTLIGHT – e-retailer Amazon is expanding its influence selling industrial and commercial supplies to companies, CNET reports.
“After quietly building out Amazon Business, its marketplace catering specifically to enterprises large and small, the company… revealed that the new site hit over $1 billion in sales in the past year, with customer purchases rising nearly 20% each month,” writes Ben Fox Rubin of CNET.
In 2012, Amazon launched its Amazon Supply business – now named Amazon Business – to sell fasteners, plumbing supplies, power tools and other products directly to companies and government offices.
“Amazon hopes to draw in customers by piggybacking off their experience using Amazon.com to buy diapers at home, perhaps transitioning more business owners to look to Amazon for their next snowplow or lab beakers, too,” according to CNET.
Amazon also has an opportunity to help modernize the market, where a lot of business purchasing still happens with catalogs, CNET adds.
“We’re continuing to grow at a pretty strong pace,” Amazon Business VP Prentis Wilson told CNET. “We’ll see how big it turns out to be, but we’re excited.”
FIN Subscribers can read about Amazon’s initial foray into the fastener business by reading: 2012 FIN – Is Amazon Hurting Fastener Distributors?
Editor’s Note: Articles in MEDIA SPOTLIGHT are excerpts from publications that show the industry what the public is reading about fasteners and fastener companies.
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