Amazon Business, launched in September 2017, is celebrating six years of empowering businesses in India. Its main objective has been to revolutionize the online purchasing and selling process. With a wide range of goods and services provided by over 10 lakh sellers, Amazon Business has achieved nationwide coverage, catering to 99.5% of pin codes in India. It has become a go-to platform for all business buying needs, offering features like bulk order quotations, shipping to multiple addresses, and more.
Amazon Business celebrates 6 years of empowering business customers in India; announces integration with Amazon Pay Later to provide access to instant credit line to business customers
To mark this milestone, Amazon Business has also integrated with Amazon Pay Later, granting eligible business customers virtual credit. This integration aligns with the Indian government’s plans to enhance the Credit Guarantee Scheme for the MSME sector, thereby facilitating credit availability for these businesses and simplifying the payment process for Amazon Business customers.
Business customers who possess knowledge about Amazon Pay Later will have the opportunity to register digitally and gain access to immediate credit conveniently. This feature enables them to effortlessly make purchases across various product categories. Furthermore, the credit obtained can also be utilized to pay bills on Amazon.in, purchase Amazon Pay corporate gift cards, and avail travel and insurance services, among other possibilities.
The goal of this initiative is to assist customers in stretching their monthly budgets to accommodate bulk purchases, including everyday essentials, electronics, and corporate gifts. The borrowed credit can be repaid in full in the following month without any additional fees, or alternatively, through easy monthly instalments over a period of up to 12 months, with reasonable interest rates and no hidden charges.
Expressing his gratitude for the support received from customers and selling partners over the past six years in India, Suchit Subhas, Director at Amazon Business, stated that their mission has always been to offer a wide range of GST-enabled products at competitive prices, along with extensive delivery coverage and digital procurement innovations, to simplify and streamline the purchasing process for businesses. With a focus on customer satisfaction, they are pleased to introduce Amazon Pay Later, which provides access to credit and enhances affordability for customers.
Amazon Business has been dedicated to driving digitalization and streamlining the procurement process for its customers. In response to their changing needs, Amazon Business has consistently introduced innovations and enhancements. One of these additions is the “Bill to Ship to” feature, which allows customers to claim GST credit on their billing address for nationwide shipments.
Additionally, Amazon Business recently launched an optimized mobile app for Android and iOS, aimed at enhancing the procurement experience for business customers on the move. Furthermore, Amazon Business offers an opportunity for seller partners to expand their B2B operations on Amazon.in. This allows them to meet the requirements of many business customers and increase their revenues. Notably, features like “Request for Quantity Discount” and bulk purchase discounts enable sellers to fulfil numerous orders from businesses throughout the country.
Amazon Business has experienced tremendous growth over the past six years due to its focus on customer satisfaction. This approach has resulted in a remarkable 150% compound annual growth rate in the customer base and a substantial 145% increase in sales. The expansion into tier 2 and tier 3 cities has played a crucial role in driving this growth, as 65% of purchasing customers come from these smaller cities. Moreover, Amazon Business has successfully fostered a loyal customer base, with 33% of customers being repeat buyers who consistently choose Amazon Business for their purchases. Interestingly, 60% of these loyal customers hail from tier 2 and tier 3 cities.
As a part of the anniversary promotion, business customers have the opportunity to benefit from appealing discounts and increased cashback rewards when using Amazon Business.
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