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Despite the negative economic sentiment, e-auctions by Scanmarket in Q4 of 2022 reported a significant increase in average savings.

The third quarter of 2022 has seen a grinding continuation of global macroeconomic challenges.

Savings in Q4 of 2021 were heavily impacted by the ongoing effects of hyper-inflation across major worldwide economies, but overall savings remained positive.

2022 was a challenging year for most procurement professionals. Geopolitical events changed the foundation of sourcing efficiencies.

2021 saw extreme market conditions and a world slowly emerging from pandemic lockdowns in H2, where global GDP, as well as inflation, began to rise as again.

2020 was a year of record-breaking quarters intertwined with a significant amount of variance in savings, up to 17.99% in Q2.