Amazon reveals exactly how third-party sellers are kicking its butt on sales
third-party sellers are growing at a faster rate than its first-party business."To put it bluntly: Third-party sellers are kicking our first party butt," he said.
The data showed that sales from third-party sellers now make up for more than 58% of the physical gross merchandise sold on Amazon. These sales have grown from $0.1 billion in 1999 to $160 billion in 2018., these small and medium-sized businesses - which include self-published authors, people who have started delivery businesses under Amazon, and developers that are building Alexa skills - now number nearly 2 million total.
Amazon has been touting the success of its third-party selling platform to show its commitment to helping small businesses grow, especially as"Since 2011, we've invested tens of billions to help SMBs succeed working with Amazon," Jeff Wilke, CEO of Amazon Worldwide Consumer, said in a statement to the press."Amazon is inspired by the type of courage and inventiveness that makes entrepreneurs tick.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
American Express relaunches Blue Cash Preferred credit card — with cashback for Netflix, Amazon, Lyft and UberCard holders will earn cash back on new categories, including streaming services.
Read more »
Berkshire buying Amazon is a wake-up call for retail investors, says this portfolio managerOur call of the day, from Byron Lotter, portfolio manager at South African-based Vestact Asset Management, says news that Berkshire is buying Amazon is a...
Read more »
Amazon has been quietly running an 'Uber for trucking' service since last yearIt's Amazon's first foray into the freight brokerage space, which includes major competitors like Uber Freight, C.H. Robinson and XPO Logistics.
Read more »
Jobs, jobs, jobs | Buffett on Amazon | Musk to buy more Tesla stockU.S. stock futures were higher this morning ahead of the government's April jobs report.
Read more »
Google's competition for advertising heats up from Amazon, rival platformsAlphabet Inc's Google, the largest U.S. digital advertising platform, is fa...
Read more »
Amazon plans to create 400 tech jobs in Denver with new office expansionAmazon announced it will expand its Denver Tech Hub and double its tech workforce in the area.
Read more »
How much does Amazon really know about you?Experts believe Amazon now collects more of your personal, private data than any other company, rivaling Facebook, Apple and Google. So what is the company collecting — and how is it using it? NBC’s Tom Costello reports for TODAY.
Read more »
34 Last-Minute Mother's Day Gifts You Can Still Get On AmazonStill need a Mother's Day gift? We're here to help out our fellow procrastinators.
Read more »
S&P 500 notches back-to-back-to-back record but Apple, Amazon share declines weighThe S&P 500 index logged its third consecutive record on Tuesday, ahead of a key policy update from the Federal Reserve on Wednesday. However, gains for...
Read more »