Amazon’s annual U.S. Small Business Empowerment Report has shed light on the impactful collaboration between the e-commerce giant and the country’s independent sellers, most of whom are small and medium-sized businesses. These sellers recorded sales of over 4.1 billion products in 2022, with average sales surpassing $230,000 on Amazon’s platform. This information highlights the resilience and adaptability of entrepreneurs, as they successfully navigate an ever-changing economic environment.
The report shows that independent sellers, accounting for more than 60% of sales on Amazon’s store, offer an extensive range of products at competitive prices, bringing incredible convenience for consumers. Sales of independent sellers grew year over year, extending their customer reach not just within the U.S. but also through increased international export sales.
In 2022, independent U.S. sellers moved more than 4.1 billion products on Amazon’s store – that’s an average of 7,800 every minute – and exported over 260 million products. Sellers from rural areas such as Rhode Island, Illinois, Louisiana, West Virginia, and Wyoming collectively achieved more than 40% year-over-year sales growth. Furthermore, independent sellers were able to create an estimated 1.5 million jobs in the U.S., which in turn fuelled economic opportunities in local communities across the country.
Dharmesh Mehta, vice president of Worldwide Selling Partner Services at Amazon, said, “Small businesses are the heart of our local communities and the backbone of the U.S. economy. Amazon invests billions of dollars annually to provide entrepreneurs with a constantly improving set of valuable tools and resources to help them gain access to capital, quickly launch in our store, build their brands, and rapidly scale and reach more customers.”
Amazon’s report also revealed that brand owners in the U.S. saw their sales grow over 20% year over year in Amazon’s store. Matt Slykuis, owner of Boldly Growing, said: “Amazon has really leveled the playing field and made success possible to just about anyone who is willing to put in the effort to learn and bring their product to market.”
Amazon also continues to innovate with tools and resources designed to help small businesses thrive. One example is the Small Business badge, which enables customers to easily identify and support small businesses, including Black-owned, women-owned, and military family-owned businesses.
Doug Herrington, CEO of Amazon Worldwide Stores, said, “All these years later, having met many sellers in person, I remain blown away by their brand building, agility, and ability to look around corners and anticipate new product trends. I am proud that hard-working, diverse, and smart entrepreneurs continue to find success growing their businesses in Amazon’s store, and I appreciate the immense value that together, we are able to bring to customers around the world.”
According to the report, the most-shopped categories from U.S. independent sellers in Amazon’s store are Health & Personal Care, Home, Beauty, Grocery, and Apparel. California, Florida, New York, Texas, and New Jersey are the states with the most independent sellers, while Wyoming, Delaware, Florida, Utah, and New Jersey have the most sellers per capita.
For small business owners considering joining the ranks of successful independent sellers on Amazon, this report indicates that the e-commerce giant provides valuable tools and services that can significantly boost sales growth. For more detailed insights, the full 2023 U.S. Small Business Empowerment Report can be accessed on Amazon’s Selling Partner website.
Get the latest headlines from Small Business Trends. Follow us on Google News.
Image: Depositphotos
The post originally appeared on following source : Source link
