New Report Says Over 1 Million U.S. Small Businesses Sell on Amazon
In Amazon’s 2018 letter to shareholders, CEO and founder Jeff Bezos announced that third-party sellers have reached a new milestone. In fact, they have reached several new milestones. First, in 2017 alone, more than half of all products sold on Amazon around the world were sold by third-party sellers. Keep in mind that many third-party sellers are small and medium-sized businesses. On last year’s Prime Day, over million items were ordered from small and medium businesses across the globe. This is a 60 percent increase from the number of items purchased from small businesses on Prime Day 2016. In addition, Amazon added over 300,000 new small and medium-sized businesses as third-party sellers during 2017.
Today, a new report has been released stating that over 1 million small businesses in the United States alone sell their products in the Amazon Marketplace. Many small businesses find it easy to get their businesses started in the Amazon Marketplace. Of course, some businesses will have to jump through a few additional hurdles in order to be accepted as a third-party seller, simply due to the nature of the products that the business is trying to sell. However, some businesses are finding that the marketplace has been saturated with products and sellers, which is making it hard to stand out from the crowd.
If you are thinking about becoming an Amazon seller and need assistance with the financial aspects of the business, contact us today.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients in New York and throughout the United States.