Every quarter, Scanmarket reports on statistics covering insights into the savings performed by e-auctions executed globally. The statistics are provided for procurement professionals who wish to better understand and optimize their businesses to achieve higher savings and efficiency. Scanmarket has been reporting these statistics each quarter since 2006, and they continue to be a highly valuable data asset to gain insights into categories and strategic sourcing trends.
The first quarter of 2022 set e-auctions on a course to recovery with almost 5% saved (vs current price) recorded across all categories. Savings for the second quarter came in at 2.82%. While this figure is lower than the first quarter, the top 10 most auctioned categories look incredibly healthy.
On a top 10 category by category basis, Q2 of 2022 has been the most positive data set since before the surge in global commodity prices in 2020. The remaining categories were a selection of heavy hitters that underperformed compared to previous quarters which skewed the overall impact, suggesting a poorer outlook than many categories would currently suggest.
In recent times, we’ve seen bumper increases in the number of auctions being conducted, and the second quarter of 2022 was no different. Despite purchasing challenges globally, the total number of auctions conducted in Q2 of 2022 was up almost 38% compared to Q2 of 2021.
Download the Q2 2022 eAuction Savings Report to learn more.