Amazon Claims UK Merchant Momentum Exceeding Rivals

Amazon Claims UK Merchant Momentum Exceeding Rivals
  • The number of small and medium-sized British businesses selling over, 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.

Posted In: BriefsNewsTechMedia