According to a report released by the US Census Bureau, the E-Commerce Industry as a whole, grew faster in 2010 as a percentage, than total economic activity, and Manufacturing E-Commerce led the way!? In fact Manufacturers and Merchant Wholesalers accounted for 90% of online B-to-B activity.
Data is collected by the United States Census Bureau in four separate surveys from manufacturing, wholesale, service, and retail business.? The most recent surveys published in 2012 for 2010 show:
- Manufacturers led all industry sectors, with e-commerce accounting for 46.4 percent ($2,283 billion) of total shipments.
- Merchant Wholesalers, including Manufacturing Sales Branches and offices ranked second, with e-commerce accounting for 24.6 percent, ($1,422 billion) of total sales.
Online sales accounted for $2,283 Billion of manufacturing shipments in 2010, up from $1,892 billion in 2009, an annual increase of 21 percent.? These figures include all online industrial auctions, including online machine tool auctions, and online used machinery sales in all manufacturing sectors.? From 2009 to 2010, e-commerce grew in all manufacturing subsectors with the largest percentage increase in Primary Metal Manufacturing, (55 percent).
Online auctions are projected to grow at a rate of 124.7% through 2019 ranking second only to Voice of Internet Protocal Providers, (VoIP) as the best performing industries through 2019.
It is clear that online industrial auctions and industrial auctioneers are here to stay.? If you are still purchasing used machine tools through traditional methods, perhaps it is time to go online for your manufacturing equipment needs!
Source: http://blog.acceleratedbuysell.com/blog/online-machine-tool-auctions-an-economic-force/
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