Government B2B marketplace sales to double in 2023
The federal government's first B2B marketplace is slowly but surely gaining momentum, according to new data from the General Services Administration.
The U.S. General Services Administration (GSA) began piloting a commercial platform program in 2018. We set out to evaluate the feasibility of developing a federal B2B marketplace for government purchases under $10,000. More than 50 years later, the market is taking its final shape.
Last month, GSA awarded new contracts to eight commercial online platforms as part of a program to help federal agencies buy, earn money and more easily analyze their spending when making online purchases. .
Federal B2B Marketplace Statistics
Now, GSA has released new statistics for federal fiscal year 2023 on the growth rate of new markets.
- Total spending doubled from $40.3 million in fiscal year 2022 to $80 million in fiscal year 2023.
- Total orders increased 103% year over year from 150,000 to 305,000.
- Total third party spending. Total spending increased 109% from $31.9 million in FY2022 to $66.7 million in FY2023.
- Small business spending increased 246% from $7.2 million in fiscal year 2022 to $24.9 million in fiscal year 2023.
- 52% of all buyers are repeat customers.
- The number of registered users is 5,400.
- The average order value is between $250 and $350.
“This is a pivotal turning point in the Commercial Platforms Program as we expand the number of platforms available, including several small business award winners,” said Cale Todd, GSA Commercial Platforms Program Manager. I am. “We are excited to move into the next generation of this program to further strengthen our commitment to our agents to help them get the products they need to support their mission. Masu.”
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