Amazon Storefronts – Amazon’s Online Store for the Small Business | Extraordinary Business
Amazon, the second company to hit a $1 trillion market cap (among other things), has launched an online store for small businesses. While critics of Amazon often call out the eCommerce giant for out pricing small scale businesses, this initiative provides a different narrative.
Amazon continues to grow beyond the wildest dreams of most entrepreneurs; its founder and CEO Jeff Bezos is the richest person in the world with a net worth of $112 billion. Despite this stellar growth and success, the recently launched “Amazon Storefronts” will support some 20,000 U.S. small businesses by featuring their products. A “Storefront of the Week” video will be featured on the site, showcasing interviews of small business owners and their business profiles.
Since the main Amazon website already includes products from over a million small businesses, we have yet to see how Amazon will select businesses for Storefronts, and whether they will allow existing partners to migrate to the new site. At any rate, Amazon’s foray into the small business domain is characteristic of the company wanting to get in on everything you buy.
Small businesses will be able to open seller accounts with Amazon and might even be able to open a bigger store page. Amazon will also provide logistics support with their Fulfillment by Amazon service. Small businesses can significantly boost their chance of selling more and growing by getting on board with the undisputed leader in eCommerce. Digital transformation strategist John Rethans points out that economies of scale remain important, and Amazon Storefronts can be a game changer for many small businesses.
In addition to incentivizing businesses to provide high quality products that help them stand out, the new arrangement also encourages the SMEs to improve their business credit score. This is important for building vendor relationships. Another positive effect of this latest Amazon venture is that it encourages business owners to improve their focus on specific categories and even fashioning product descriptions.
Businesses can also take on courses on Seller University and learn to get the most out of Amazon. This and numerous other features are available for small businesses to grow their business exponentially. Leveraged correctly, this addition by Amazon can be an incredible tool for small businesses.
Fatima Mansoor is a writer at Aepiphanni, a small business operations and strategy consultancy that exists to help small business owners CREATE | DESIGN | BUILD extraordinary businesses. She specializes in business & entrepreneurship, digital marketing, and health & fitness. Her focus is on creating compelling web content for small and medium businesses form diverse industries. She mostly writes for entrepreneurs and marketing agencies across the US, Australia and UK.
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