Since Amazon's IPO 20 years ago, much has changed. If you invested $10,000 back in 1997, it would be worth $4.8 million today. This week, the stock nears $1,000 per share. But even if you didn't invest in Amazon back in the 90's, there's still hope for making money. Entrepreneurs are finding that Amazon is opening the doors for financially lucrative opportunities--on the sales side of things. And it appears to be working: Some retailers have been able to make millions by selling their products through Amazon.
Today, Amazon is considered the leading eCommerce company worldwide, accounting for more than 53% of US eCommerce growth as of 2016. And while the retail giant has gone on to acquire or invest in at least 128 different companies around the world, it still strives to create many new opportunities for individual sellers, too.
Small business owners are hopping on the Amazon bandwagon as a result. With data indicating that as many as 55 percent of online product searches begin on Amazon, retailers looking to diversify their omni-channel marketing strategy are now considering adding Amazon as a sales channel to capture that audience.
In fact, online sales platform BigCommerce recently found that as many as 73 percent of small business owners are considering selling on Amazon in 2017. What's more: 20 percent of BigCommerce's users have already connected their websites to at least one additional channel (like Amazon) and about 12 percent of gross merchandise volume on the platform comes through Amazon as well.
But it's not only the Amazon audience that small business owners are tapping into by opening an Amazon store of their own. By adding an Amazon store as a sales channel, these business owners are able to harness the power Amazon's latest and greatest sales innovations, too.
Some eCommerce platforms are already releasing integrations for this very purpose. With tools that allow retailers to tie together multiple sales channels (like Amazon, eBay, and a standalone website) in a single dashboard, it's becoming easier than ever before for small business owners to manage inventory and orders across these various platforms.
Overall, it's hard to say what's ahead for Amazon as a company over the next 20 years, but small business owners seem to feel the retail opportunities are worth exploring.