There's a business growing within Amazon that could one day be worth more than retail or cloud

Amazon's hunt for another business to drive growth even higher may have its answer in Amazon Business, a note from Bank of America on Tuesday said.

"B2B has many more hurdles to adoption given the complex procurement processes, but Amazon is driving steady adoption," Post said Amazon Business may have a long way to go to catch the retail unit but it's growing fast. Post said it now has"millions of business customers." Post pointed to growth of the run rate of gross merchandise volume for Amazon Business . In the past two years, that run rate has increased by 10 times: From $1 billion in 2016 to $10 billion in 2018, Bank of America said. And by 2023, the firm estimates Amazon Business can scale that gross merchandise volume run rate to $33.

"The company is solving procurement bottlenecks with new features, and we think Amazon is well positioned in the category with an active marketplace and same-day fulfilment capabilities. Long-term, B2B will be an important driver of retail sales growth," Post said.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These hyper-secretive economists are transforming how Amazon does businessCNN News, delivered. Select from our newsletters below and enter your email to subscribe. Let’s hope they weren’t classmates of AOC. Monopolies will have to go to reduce industry concentration and enhance competition eternal life is available thru Jesus , travel speed of thought ; might be true
Source: CNN - 🏆 4. / 95 Read more »

Amazon has been a business bulldozer, except in videoAmazon has not been the major player in the streaming video, but it has the advantage of being able to tie content to products it sells.
Source: CNBC - 🏆 12. / 72 Read more »

Amazon has a cost-cutting plan for the boom-and-bust oil businessAmazon thinks that volatile price swings in the boom-and-bust oil business are a perfect match for its web services cloud computing division.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves premarket: Deutsche Bank, Boeing, Amazon, Apple & moreSome of the names on the move ahead of the open. Trump has markets flying again! If he is not re-elected could we see a crash?
Source: CNBC - 🏆 12. / 72 Read more »

Tech firms ramp up efforts to woo the energy industryDespite Silicon Valley's professed support for clean power, it views the energy industry as a huge opportunity something of worth now! Well that should end well. climatcatastrophe
Source: TheEconomist - 🏆 6. / 92 Read more »