Based on its offerings, Amazon Business is akin to a BRM (Business Relationship Management) tool. Where the more popular acronym CRM (Customer Relationship Management) tool deals with customer facing technology, a BRM helps businesses run smoothly internally. Included in the subscription to Business Prime are multiple users, purchasing-system integration, business-only discounts, and analytics. In an interview with CNBC, Bank of America analyst Justin Post predicts that Amazon Business will capture 10% of the B2B market in the United States by 2021. Internationally, Amazon Business is set to seize 5% of all global B2B business in just a few short years.
So why is there so much hype surrounding Amazon Business and especially Business Prime? The answer is much bigger than Amazon Business. While not a conglomerate per see, Amazon is a giant corporation. It specializes in just about everything. What started off as a book store in Jeff Bezo’s garage has turned into a one-stop shop for anything from food and toys to furniture, electronics, and even entertainment. You can practically find anything you want on Amazon and that includes a 2019 Tesla S Long Range for $84,000. Amazon Business is just another industry Amazon is dominating.
One of the things that makes Amazon Business so rare is that there aren’t that many BRM tools out there. Couple that with Amazon’s well-respected name- businesses are practically lining up to plunck down a minimum of $179 a year for a membership. In their first year Amazon Business hit one billion dollars in profit and $10 billion by the third year. That’s without an aggressive advertising campaign. That number is going to skyrocket once Business Prime is plastered on billboards and becomes a “must-have” in offices around the world.
With the numerous features that are included in Business Prime, the B2B industry is just one of Amazon’s many industry ventures that continue to position Amazon as one of the most successful corporations to date.