Over 1.9 million US SMBs growing business with Amazon

Third-party gross physical merchandise sales – primarily comprised of SMBs selling in Amazon’s stores – surpassed $160 billion in 2018 and make up more than half of the units sold in Amazon’s stores, 2019 SMB Impact Report by Amazon said.

In 2018, the number of SMBs eclipsing $1 million in sales in Amazon’s stores worldwide grew by 20 per cent. On average, US-based SMBs sold more than 4,000 items per minute in Amazon’s stores and earned more than $90,000. In 2018, Amazon lent US-based SMBs more than $1 billion to build inventory and support their Amazon stores.

“Amazon’s mission is to be Earth’s most customer-centric company. Among the customers we’re focused on are small businesses and entrepreneurs. As we work to help them grow their businesses, we are making big investments: in our delivery network, data centers, AI research, robotics. Since 2011, we’ve invested tens of billions to help SMBs succeed working with Amazon,” said Jeff Wilke, CEO, Amazon Worldwide Consumer. “Amazon is inspired by the type of courage and inventiveness that makes entrepreneurs tick. And our customers benefit from the products, books, videos and skills they produce. We salute the millions of entrepreneurs, creators, and developers around the world whose impressive efforts are summarized in this report.”

To help support SMBs, content creators, and developers that are interested in working with Amazon, the new 'Build Your Business with Amazon' website provides information on how to achieve success with help from Amazon. The company has launched the new website to give businesses, entrepreneurs, authors, and developers a one-stop destination that curates many of the opportunities available to start or grow a business with Amazon. (RR)

Fibre2Fashion News Desk – India