Amazon Touts Value Of Its Stores To Small Business

by MR Magazine Staff

Amazon on Friday touted the benefits of its stores to smaller brands and retailers, saying that “more than 50,000 small and medium-sized businesses exceeded $500,000 in sales in Amazon’s stores worldwide, and nearly 200,000 surpassed $100,000 in sales in our stores.” The number of such businesses “eclipsing $1 million in sales in Amazon’s stores worldwide grew by 20 percent in 2018,” according to an Amazon press release. Millions of them globally from more than 130 different countries are selling in Amazon’s stores and more than a million are based in the U.S. and come from every state, according to the release. Third-party sales on the company’s marketplace “are growing at a faster rate than first-party sales on Amazon and across retailers in the U.S.,” Amazon also said, noting that over the holidays, “sales by small and medium-sized businesses outpaced its retail business sales in Amazon’s stores worldwide.” Read more at Retail Dive.