Amazon recently released its U.S. Small Business Empowerment Report, providing insights into the impact of Amazon on small businesses. The report notes important programs, tools, and other resources to help small businesses thrive in the digital age.
Key Takeaways from Amazon’s U.S. Small Business Empowerment Report
The Amazon’s U.S. Small Business Empowerment Report highlights the following:
- Independent sellers have increased their product sales significantly, accounting for more than 60% of sales in Amazon’s storefronts
- Amazon plans to hire over 100,000 U.S. veterans and military spouses by 2024.
- Independent sellers on Amazon create growth and revenue generation opportunities for small businesses
- Amazon’s FBA Donations program provided small businesses to donate their unwanted items to charities
Thriving In The Global Market Through Amazon
Amazon’s U.S. Small Business Empowerment Report shows global demand for small business products on Amazon’s platform. Independent sellers are expanding beyond their local markets and successfully selling their products internationally through Amazon’s platform, connecting with customers worldwide.
Accessing global customers empowers small businesses to thrive in a competitive global marketplace. Amazon provides tools and resources to help independent sellers manage international logistics, compliance, and customer service.
Common Seller Challenges
- Small businesses face tons of competition, making it challenging to gain visibility
- Managing small business processes can be challenging due to limited resources
- Small businesses struggle with effective marketing strategies due to limited budgets
- Establishing a strong brand presence and building customer trust is challenging
- Amazon provides resources and tools to help small businesses succeed on Amazon
- The FBA program of Amazon reduces operational complexities for small businesses
- It provides advertising solutions to help small businesses increase visibility and reach
- Small companies benefit from Amazon storefronts in terms of differentiation and consumer loyalty
Amazon’s report highlights the importance of supporting and empowering small businesses. Independent sellers’ increased sales demonstrate popularity and success, benefiting individual sellers and the ecosystem. Expanding customer reach through international export sales leads to growth, revenue, and employment.