AMAZON WANTS TO GRAB THE OFFICE SUPPLIES CATEGORY
Key Point: Amazon Business launched its first B2B campaign aimed at building more business in the office supplies category. The “Buy smarter. Dream bigger” push features a 30-second national spot video that describes how Amazon can make necessary functions like placing orders and tracking spending simpler to accomplish.
Other elements in the campaign include social media ads, national radio ads, out-of-home (OOH) ads, and more. The audience focus is any business obtaining supplies from multiple vendors. Get the full scoop on Marketing Dive.[TWEET: Amazon is pushing hard to build its Amazon Business platform. The first category targeted: office supplies.]
B2B MARKETPLACES GOING MAINSTREAM
Key Point: Amazon may be the leading marketplace for consumers, but the competition is stiff when it comes to B2B marketplaces. According to a Digital Commerce 360 report, the number of business marketplaces increased by more than 400% over the past three years. Sales occurring via marketplaces could grow to $130 billion in 2022.
Here’s how ORO Marketplace describes the logic:
Like their B2C (business-to-consumer) counterparts, B2B marketplace platforms allow sellers to reach a wider audience and expand beyond their traditional footprint. A B2C marketplace like Amazon hosts retailers who sell to end-consumers, but B2B online marketplace sellers can be distributors, retailers, brands, or manufacturers selling to other businesses by units or in bulk, using a B2B wholesale marketplace.
Just as COVID changed the way consumers shop, B2B marketplaces are giving businesses a different way to buy or sell in bulk.[TWEET: B2B marketplaces lagged for years, but they are now making a resurgence in popularity for bulk buying and selling.]
EFFECTS OF INFLATION ON BUSINESS: THE GOOD AND THE BAD
Key Point: Is the U.S. economy in a recession, headed to a recession, or narrowly skirting the possibility? The answer to that question depends on who you ask. One thing is for sure, though: prices are headed up quickly and inflation is affecting everyone.
What can a business do to weather inflation? Oracle Netsuite tackled that question and suggests four tactics: raise prices, cut costs, reevaluate business practices, and modify supply tactics.
AVERAGE DATA BREACH COST FOR US BUSINESSES: $9.44 MILLION
Key Point: Prices are going up, but it’s not all due to inflation. Many businesses are forced to increase prices due to a data breach. According to an IBM report, the average cost of a data breach globally is $4.35 million. For companies in the United States, though, the cost is more than double — making it the hardest hit country by hackers for 12 years running.
Businesses most at risk include technology, education, the public sector, healthcare, financial services, industrial, and communication — but no company is immune to the threat. Healthcare data breaches cost an average of $10.1 million each, making it the hardest hit sector of all.
What can a business do to protect itself? Get four action steps in this Tech.co article.[TWEET: The average cost of a data breach is pushing $10 million — and the United States is getting gouged by hackers more than any other country on the planet.]