Economy

Amazon launches Storefronts catering to small businesses

Amazon launches Storefronts catering to small businesses”

The new platform is called Storefronts and contains a collection of over one million products from almost 20,000 businesses. According to the report, small and medium-sized businesses selling on Amazon are estimated to have created more than 900,000 jobs worldwide. The new online store will sell items from 20,000 small businesses, spanning 25 categories from back-to-school supplies to kitchen utensils.

Amazon Storefronts is a new way for small and medium-sized businesses to sell products directly through Amazon. "Amazon first invited businesses to sell on Amazon almost two decades ago, and today, small and medium-sized businesses are a vital part of Amazon's large selection and commitment to customers".

The new Storefronts campaign is another initiative meant to drive customers towards items from third-party sellers and promote the idea that Amazon is a "big collection of small". Though your product will get more visibility from Amazon's push, Storefronts won't drive traffic to your website-and small businesses have options when it comes to online marketplaces.

"Since we started selling on Amazon in October 2016, our sales have almost doubled".

Amazon Storefronts offers customers to shop and get information on products, and business owners. But the new portal also allows Amazon to be able to say it's supporting small businesses in the US instead of just decimating their customer base by undercutting them on price. A report from the Institute for Local Self-Reliance argued in 2016 that Amazon's expansion should be viewed as encroachment - it's left many businesses no choice but to join the platform as a third-party seller.

As if that wasn't enough, now Amazon is replacing physical businesses in cities with its very own brick-and-mortar stores. Kicking off the site's launch is The Little Flower Soap Co., which sells handmade soap from MI. Earlier this year, Amazon said SMBs accounted for half of the products sold worldwide on Amazon.com during 2017. Since they started selling their products on Amazon (amzn) in October 2016, the company's sales have almost doubled, said Holly Rutt, co-founder of Little Flower Soap Co. At this time, it's not clear whether Amazon will add more small businesses to the Storefronts section.

It's also likely a move to help turn around Amazon's reputation as a small-business killer.



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