- Amazon (NASDAQ: AMZN) has helped small and medium-sized businesses across the U.S. increase product sales and create job opportunities, according to the U.S. Small Business Empowerment Report published by the company.
- More than 60% of sales in Amazon’s stores come from independent sellers, the majority of which are small and medium-sized businesses.
- The report highlights the use of innovative tools such as Amazon Vine, which enables independent sellers to receive product reviews from Vine Voices, a community of insightful and impartial reviewers.
- Utilizing these tools, independent sellers sold over 4.1 billion products and generated an average of $230,000 in sales in Amazon’s stores in 2022 alone.
- Brand owners in the U.S. also grew their sales by over 20% year-over-year in Amazon’s stores.
- Selling in Amazon’s stores has contributed to the creation of an estimated 1.5 million jobs in the U.S.
- Also Read:‘You’ll Never Go To Amazon:’ Bill Gates Predicts AI Agents Will Replace Search And Shopping Websites
- Doug Herrington, CEO of Amazon Worldwide Stores, praised independent sellers for their brand building, agility, and ability to 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.”
- Price Action: As of the last seen price on Tuesday, AMZN shares were being traded at $114.95, down by 0.05%.
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