- The number of small and medium-sized British businesses selling over Amazon.com, Inc's AMZN marketplace soared by over 25% in 2021, faster than in Germany, France, or Italy.
- Some 85,000 smaller U.K. enterprises now sell on Amazon, responsible for over 950 million product sales or 1,750 per minute.
- More than 700 of those merchants generate sales of more than £1 million ($1.1 million).
- Also Read: Amazon Is This Analyst's Top Pick: Devices, Prime And This Service Are Reasons Why
- In July, Britain's Competition and Markets Authority launched a probe into Amazon's retail and reselling business, following E.U. and U.S. investigations, Bloomberg reports.
- The CMA cited suspected breaches of competition law.
- Some smaller European countries, including the Netherlands, Poland, and Sweden, grew their marketplaces faster than Britain, but from a lower base, Amazon claimed.
- Reportedly the funding for Amazon marketplace sellers dried up as e-commerce growth stalled.
- In 2021, investors poured over $12 billion into acquisition start-ups or aggregators focused on buying Amazon marketplace sellers following the significant behavioral shift during COVID lockdowns. So far, in 2022, funding has dropped to just over $2 billion, most of which came before the stock market slump in March.
- Amazon aggregators or roll-ups buy sellers who typically do the bulk of their business through Amazon's third-party marketplace looked to combine many brands under one roof.
- Price Action: AMZN shares closed lower by 1.57% at $113 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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