Small- and medium-sized businesses in Amazon’s marketplace nabbed more than $230,000 in sales on average in 2022, according to Amazon’s Small Business Empowerment Report.
These independent sellers sold more than 4.1 billion products – an average of 7,800 products every minute – showing “the resiliency of U.S. entrepreneurs” amid the uncertain economic climate, Dharmesh Mehta, Amazon vice president of worldwide selling partner services, told FOX Business.
This compares with 2021 when businesses sold more than 3.9 billion products.
AMAZON PLANNING CONVERSATIONAL AI CHATBOT FOR WEBSITE SEARCH
“2021 was a unique year as it experienced a huge surge and pull-forward of growth due to COVID, and we saw that sustain and even build further in 2022,” Mehta said.
In fact, these independent sellers are outpacing the growth of Amazon’s own retail sales, Mehta said.
More than 60% of sales on Amazon’s marketplace come from independent sellers and most of which are small- and medium-sized businesses, he added.
Certain sellers, specifically in rural areas, including parts of Illinois, Louisiana, West Virginia and Wyoming, collectively achieved more than 40% year-over-year sales growth, according to the data.
Overall, independent sellers are helping to boost the U.S. economy by employing an estimated 1.5 million people who are responsible for managing, operating, and supporting their efforts to sell through Amazon’s store, the report said.
Read the full article here