Industry Trends
This topic includes posts that discuss relevant industry topics and trends that the GoVets team believes is important and relevant to our customers.
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January 31, 2023
How to become a Tax-Exempt buyer in the USA?
In the United States, becoming a tax-exempt buyer typically involves obtaining a tax-exempt status from the federal government. Here is a general overview of the steps that may be required to become a tax-exempt buyer in the United States:
- Determine your eligibility: To be eligible for tax-exempt status, you must be a nonprofit organization, religious organization, or government entity.
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January 31, 2023
At GoVets, several of our Government Buyers reach out as part of their Market Research activities, so we want to share our thoughts based on our knowledge, experience and observations.
Market Research Best Practices
Government buyers conduct market research in order to identify and procure products from qualified suppliers and diversified small businesses. Market research is a critical component of the procurement process and helps buyers to gather information on the available products, services, and suppliers in the market. This information is then used to make informed purchasing decisions that meet the needs of the government agency and its constituents.
Market research typically starts with a needs assessment, which helps government buyers to understand the requirements of the agency and its stakeholders. This assessment considers factors such as the type of product or service needed, the specifications and standards required, the desired delivery
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January 31, 2023
Why should government buyers purchase items on AMazon.com?
Government buyers may choose to purchase items on Amazon.com because it offers several advantages, including:- Convenience: Amazon.com provides a user-friendly platform for government buyers to purchase a wide range of products and services in one convenient location.
- Selection: Amazon.com offers a
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January 31, 2023
Corporations have come a long way in terms of their approach to supplier diversity. In the past, corporations tended to rely solely on large, established suppliers for their product acquisition needs. However, in recent years, corporations have evolved to become more supportive of diverse suppliers, including those from small businesses, minority-owned businesses, and women-owned businesses. This shift has been driven by a combination of economic, social, and political factors and has had a significant impact on the way corporations do business.
The evolution of corporations to support diverse suppliers has been driven by several factors. Firstly, the globalization of the economy has created a need for corporations to source products from a wider range of suppliers. This has been made possible by the growth of the internet and advancements in transportation and logistics, which have made it easier for corporations to connect with suppliers from all over the world. In addition, corporations
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January 28, 2023
At GoVets, we are very passionate about continuously improving our customer experience and look at every way to help our customers understand what they are buying so the customer is happy with their purchase, experience and they keep coming back for more to satisfy their Government, Business and/or Personal needs. As part of this process, we want to maximize how many customers are converting when they come to our website. There are many industry statistics and studies that try to look at buyer behavior. For example, Investpcro.com provides the following reasons why web buyers abandon shopping carts:
- High Shipping Costs (44% of Shoppers)
- Not Ready to Purchase (41% of Shoppers)
- High Product Prices (25% of Shoppers)
- Wanted to Save Products for Later Consideration (24% of Shoppers)
- Did Not Clearly Mention Shipping Costs (22% of Shoppers)
- No Guest Checkout Option (14% of Shoppers)
- Need Too Much