Amazon on track to invest $18 bn in 2020 to help SMBs


Amazon has announced that it is on course to invest $18 billion this year to help small and medium-sized businesses (SMBs) sell to customers, including investments in logistics, tools, services, programs, and people. Since the beginning of 2020, Amazon has launched over 135 free tools and services to help sellers grow their sales in Amazon’s store.

 

In the next twelve months, the company will provide more than 500,000 US SMBs currently selling on Amazon with online selling guidance, education, and support, and the company plans to onboard an additional 100,000 US businesses as new sellers in its store. The announcements were made at Amazon Accelerate – a three-day virtual summit for US SMBs who are currently selling in Amazon’s store or interested in doing so.

 

Amazon Accelerate is the company’s largest-ever US event focused on providing existing and aspiring sellers with insights and ideas for how small businesses can thrive in Amazon’s store. It features Amazon executives, sellers, and independent online selling experts sharing insights on how sellers can sustain and grow their companies through 2020 and into the future.

 

Despite the impact COVID-19 has had on small businesses, many American SMBs selling through Amazon have experienced continued growth. Third-party sellers continue to account for more than half of all units sold in Amazon’s store, and even during the pandemic, third-party sales continued to grow faster than Amazon’s first-party sales.

 

In the twelve-month period ending in May, American SMB sellers sold more than 3.4 billion products, up from 2.7 billion year-over-year, and averaged $160,000 in sales, up from approximately $100,000 a year prior.

 

“At Amazon, our mission is to be Earth’s most customer-centric company, and part of fulfilling that mission is connecting small businesses with customers,” says Jeff Wilke, CEO Worldwide Consumer at Amazon, who opened the event with a fireside chat with Dharmesh Mehta, vice president, Customer Trust & Partner Support at Amazon. “Amazon’s success is directly tied to the success of independent businesses across the US. We are passionate about supporting small businesses, investing and inventing on their behalf to help them be resilient through COVID-19 and beyond.”

 

Fibre2Fashion News Desk (RKS)

Amazon has announced that it is on course to invest $18 billion this year to help small and medium-sized businesses (SMBs) sell to customers, including investments in logistics, tools, services, programs, and people. Since the beginning of 2020, Amazon has launched over 135 free tools and services to help sellers grow their sales in Amazon’s store.





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