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Yet another strong quarter of eAuction savings has been delivered in Q3. The average savings across all categories reached 10.42%, coming from 11.32% in Q2. As 2023 comes to a close with only one quarter left, savings thus far are trending toward another record year.
Despite global challenges, the news for Q1 of 2022 is good overall and we've seen a surge in e-auction growth.
Info-Tech’s Category Reports provide a comprehensive evaluation of popular products in the Strategic Sourcing market.
As Q1 concluded, Scanmarket by Unit4 reported a savings rate of 9.25%, reaffirming the buyers’ embrace of eAuctions to counter inflationary pressures and secure better category prices.
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.
Q3 shows elevated savings performance, with average savings increased to 19.56%, up from 10.09% in Q2 2024 and 10.42% in Q3 2023.