Today, Scanmarket released its Q2 eAuction Statistics for activity on the Scanmarket platform.If you follow these posts regularly, you know that this information can provide valuable insights into category opportunities that you can use in your own eSourcing pipeline.
Among the key insights from the Q2 eAuction stats:
- Construction & buildings remains the #1 most-auctioned category tracking closely with the active global construction markets especially in North America. This quarter also saw a nearly 7 point increase in savings rates to 18,29% (up from 11.30% in Q1)
- Iron & metals saw a significant decrease in volume falling from #2 most-auctioned to #5 despite a more than 5 point increase in savings rates to 18,73%
- For the first time in more than two years, Machinery has cracked the Scanmarket Top 10 Most eAuctioned List with an impressive debut at #2
- In keeping with long-term trends for this category, Electrical & Telecommunications savings continue to fluctuate significantly from quarter to quarter, coming down from very high savings in 2018 and Q1 2019
- Retail continues its strong run coming in at #4. If you are in the retail industry and not actively employing eAuctions for both GFR and GNFR, you are missing out
- While Freight and Transportation saw a bit of softening in volume, it remains a strong category with consistent savings especially given the low margins inherent in the industry. Scanmarket is seeing increasing usage of our BidMatrix functionality in these types of bids
We hope that this information is useful to you as you build your sourcing pipelines. If you'd like to see more statistics click here.
For over 20 years, Scanmarket has been the global leader in eAuctions. If you aren't using eAuctions as an integral part of your eSourcing portfolio, you should know that your competitors are. Learn more about Scanmarket's eAuction Module here.