Small businesses across all industries, from retail to technology, have one thing in common: they are still dealing with the onslaught of labor shortages and supply chain disruptions created by the COVID pandemic. On this episode of The Small Business Show, host Shyann Malone is joined by Priya Monga, general manager at Instacart Business, to discuss how the company’s new service is helping companies address these critical issues.
From now until October 31, small businesses who create a new Instacart Business account can earn 2% credit on purchases over $250 and receive one free year of Instacart+, which unlocks $0 delivery fees on orders over $35 and other exclusive savings across all transactions. “We’re really, really excited to share this offer with the world today,” remarks Monga. This deal is especially beneficial for companies with small teams and limited resources. Entrepreneurs frequently struggle to obtain supplies for their companies due to their limited manpower and funds. Small businesses also lack inventory space, meaning they can only purchase so much stock before running out of storage. The drawbacks of these limitations are further aggravated by supply chain disruptions, which have disproportionately affected startups and family-owned companies since the COVID pandemic.
The new service was inspired by feedback from users already on the Instacart platform. Even before creating a business-only account, the company had become a crucial partner to many entrepreneurs across the U.S. “When we saw this data, and we saw businesses already flocking to Instacart to leverage our platform to get same-day delivery, we knew that we really had to continue to build a business product that serves their unique needs,” Monga explains. The Instacart team incorporated features tailored to entrepreneurs and the pain points they often face when managing their operations. For example, Instacart Business allows users to easily switch between personal and company accounts within the same application and includes stocklists and reordering tools to make purchases as simple as possible. Select small businesses in eligible states can also qualify for tax exemption on their Instacart Business orders, a feature that the company expects to roll out to more accounts before the end of the year. Certain wholesale suppliers have also partnered with the platform to expand the categories of items available to business account owners.
Instacart Business is intended to complement the vendors that small businesses already use, increasing the flexibility managers and leaders have when purchasing necessities. The platform also protects companies in the event that a supplier is unable to deliver on time, serving as a convenient emergency backup. Since its launch earlier this year, the service has attracted users from across multiple industries, including restaurants, mom-and-pop stores, coffee and tea shops, law firms, medical facilities and daycares. “Most businesses have a need for supplies and for ingredients,” adds Monga, “and they’re realizing that it’s very costly to actually send an employee to the store, to spend hours in line, to spend money on gas back and forth. And this is really where Instacart Business comes in.”
The platform is also planning additional services to help small businesses even more. “Over the coming months, we’re working really, really hard to roll out a steady drumbeat of features for business customers,” Monga remarks. For instance, Instacart Business will be looking to address additional pain points affecting U.S. startups, such as limited payment options. It will also be developing ways to connect retailers with small businesses at scale, allowing them to better serve the needs of their communities. “We are just getting started,” she concludes. To set up a new Instacart Business account and take advantage of cash-back and free deliveries, download the app or visit their website here.