The percentages represent the share of physical gross merchandise sales sold on Amazon by independent third-party sellers - mostly small- and medium-sized businesses - as opposed to Amazon retail's own first party sales. Third-party sales have grown from 3% of the total to 58%. To put it bluntly:And it's a high bar too because our first-party business has grown dramatically over that period, from $1.6 billion in 1999 to $117 billion this past year.
We helped independent sellers compete against our first-party business by investing in and offering themThere are many such tools, including tools that help sellers manage inventory, process payments, track shipments, create reports, and sell across borders - and we're inventing more every year. But of great importance are Fulfillment by Amazon and the Prime membership program.
AWS itself - as a whole - is an example. No one asked for AWS. No one. Turns out the world was in fact ready and hungry for an offering like AWS but didn't know it. We had a hunch, followed our curiosity, took the necessary financial risks, and began building - reworking, experimenting, and iterating countless times as we proceeded.
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