3. Amazon invested $15B and launched 225 new tools and services in 2019
Amazon revealed last month in a press release that it invested $15 billion and launched 225 services and tools. The services and tools — geared mostly toward small and medium-sized businesses and worldwide third-party sellers — resulted in U.S. small businesses selling on Amazon breaking records of their own, with over 15,000 of those businesses reaching more than $1 million in sales, and over $500,000 in sales for just about 25,000 businesses. Some of the services credited with the growth are Amazon Live, Growth Navigator, New Product Optimizer and the company’s Brand Analytics and Brand Dashboard, to name a few. (Source: Amazon)
Why this is important for your firm and clients: Amazon has certainly had a negative effect on some small businesses. But many others have prospered by selling on the online giant’s platform. And, as the company likes to remind us, it continues to invest billions in tools to help these same small partners. If your clients are selling products online, you can help them weigh the pros and cons of being an Amazon merchant. But to me, it’s a tough place to avoid, considering the tools it provides and the markets you can reach. And no, I’m not being paid to write this.