Amazon has announced it is on track to invest $18 billion in 2020 to help small and medium businesses increase their sales. The e-commerce giant will invest in logistics, tools, services, programs, and people. It has already launched more than 135 free tools to help sellers since the beginning of this year. The company is planning to provide online selling guidance, education, and support to more than 500,000 small and medium-sized businesses in the US. Not just this, the company will also onboard an additional 100,000 businesses in the US as new sellers. Amazon made the announcements at a three-day virtual summit called Amazon Accelerate.
What is Amazon Accelerate?
Amazon Accelerate is Amazon’s largest-ever US event for small businesses that focuses on providing them with insights and ideas for how they can thrive in Amazon stores. In the United States, many small businesses have experienced continued growth despite the impact of COVID-19. According to Amazon, American small and medium-sized business sellers have sold more than 3.4 billion products in the last 12 months. The previous year-over-year products that they sold were limited to 2.7 billion. The sales have increased from $100,000 to $160,000 in the last 12 months, ending in May 2020. At the Amazon Accelerate, various sellers, Amazon executives, and other independent online selling experts share their insights on how the sellers can sustain and grow their companies through 2020.
Amazon’s Other Investment Plans
Amazon has also announced to invest an additional $100 million to help small businesses all over the world to increase their sales. The company is investing to help the sellers reach new and more customers throughout the holiday season.
As said earlier, Amazon has already launched 135 free tools earlier this year for sellers on Amazon stores. These tools help them to gain insights, protect and build their brands, and delight customers.