Amazon.Com, Inc. (NASDAQ: AMZN) has buoyed the product sales of small and medium-sized businesses across the U.S., creating ample job opportunities, the tech giant said in its U.S. Small Business Empowerment Report.
More than 60% of sales in Amazon's stores are from independent sellers—most of which are from small and medium-sized businesses.
The report highlights unique tools like Amazon Vine, a program that helps independent sellers get product reviews from Vine Voices, a community of unbiased and insightful reviewers.
Leveraging these tools, independent sellers sold over 4.1 billion products and averaged over $230,000 in sales in Amazon's stores in 2022.
Brand owners in the U.S. grew sales by over 20% year-over-year in Amazon's stores.
Selling in Amazon's stores has also enabled independent sellers to create an estimated 1.5 million jobs in the U.S.
"All these years later, having met many sellers in person, I remain blown away by their brand building, agility, and ability to look around corners and anticipate new product trends," said Doug Herrington, CEO of Amazon Worldwide Stores.
"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: AMZN shares are trading lower by 0.05% to $114.95 on the last seen Tuesday.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Amazon Business Empowerment Report Highlights Prospects Of Independent Sellers Leveraging Innovative Tools And Brand Building originally appeared on Benzinga.com
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.