Amazon’s online marketplace is in a phase of significant continuous growth 3, 00,000 new sellers being added to its e-commerce family outlets just in the first few months of 2021. Moreover, the platform is enjoying this growth level.
As per the data collected and interpreted by Marketplace Pulse up to March 21, is equivalent to 3,734 new third-party sellers becoming a part of Amazon Marketplace every day, or 155 per hour. It is projected from the data that by the end of this year (2021), the marketplace has the potential to have added around 1.4 million more online businesses to the figures.
The US e-commerce market has the power over the vendor registration list at 76,769, accounting for 26% of the total market share. However, the Indian version of Amazon’s Marketplace has added 29,798 new stores, or 10.1%, so far this year. The Amazon Marketplace in Canada is also growing rapidly, with 22,088 new sellers added to the ranks. The UK is also increasing the number of headlines, with 19,944 e-commerce outlets participating, accounting for 6.8% of the total.
With the global pandemic situations which continued to roadblock traditional bricks and mortar stores, there existed numerous businesses which opted to become a part of e-commerce-only ventures appearing on Amazon’s vast outlet. Small businesses, in particular, are finding the potential behind the online shopping platform hugely beneficial, with many exploring the power of using an e-commerce package for the first time.
Another good feature of Amazon is that offers storage facilities, shipping needs are met and efficient customer service is provided by the e-commerce giant, however at a cost.
Amazon’s marketplace is also an outlet for the huge e-commerce company to sells its own wares, presenting a considerable level of competition. Many of the new businesses emerging on the platform face Amazon selling the same or similar products at low prices.
New sellers also have to buy into Amazon’s ad campaigns if they want to push their own ranking and enhance their storefront visibility. Even if they’re using this leg-up route businesses still aren’t guaranteed to boost their sales.