Amazon To Invest $15B In Tools For Third-Party Sellers In 2019

Since the beginning of this year, Amazon has created 150 tools and services for small businesses, the company announced in a press release last week. The tools range from the Sold By Amazon tool, which helps retailers manage their pricing, and Target Inventory Level, which helps retailers manage inventory. Independent retailers — mostly small and midsize companies — comprised 58% of all physical merchandise sold within the Amazon’s stores last year, Amazon also noted in its press release. Amazon’s tools are expected to create new jobs and growth over the next three years, the company stated. “Based on our recent survey data, we know that greater adoption of digital technology, such as online retail capabilities and tools, could unlock small business job creation and growth to the tune of 360,000 jobs and $140 billion over the next three years with the greatest potential impact on small businesses in rural America with annual revenues under $100,000,” Tim Day, senior vice president of the U.S. Chamber’s Technology Engagement Center, said in the statement. Read more at Retail Dive.