Amazon Business launches 'End of Financial Year Sale' for MSMEs

Amazon Business launched "End of Financial Year Sale" aimed at empowering micro, small, and medium enterprises (MSMEs) by providing over 160 crore GST-enabled products across top categories. The event is aimed at enabling B2B customers to complete all pending purchases with great deals before the end of the current financial year.

Business customers can get up to 10% extra cashback across all the business-relevant categories like computers and accessories, electronic appliances, office products, office improvement, office kitchen, industrial and scientific, etc. First-time users will have an advantage of 25% cashback across selected categories. 

Customers can also avail business exclusive prices and bulk deals on more than 5,000 products with up to 30% off on laptops and up to 40% off on monitors, ACs, and refrigerators.

To make business purchases more efficient and compliant, MSMEs can also use other features such as multi-user accounts, pay later, bill to ship to, and approvals.

Amazon Business was launched in 2017 to meet the business-procurement needs of different institutions such as hospitals, clinics, manufacturers, universities, schools, NGOs, government bodies, and offices. The event aims to help MSMEs acquire business supplies at discounted rates, further minimising the cost of procurement.

The B2B marketplace is seeing significant growth in India with the increasing online shopper base. According to a report by consulting firm Bain & Company and venture capital firm Accel, the GMV of B2B marketplaces is expected to grow 5X its current size to reach $55 billion by 2027. The report showed that online marketplaces in India have hit $100 billion in GMV.

In the next five years, marketplaces are expected to contribute 4%-5% of India's gross domestic product (GDP), up from the current 2%-3%.