Amazon Helping Small Businesses in Covid-19 -Modern Millionaires Review
Slide Title • No doubt, the covid 19 crisis spares nothing and no one- lives, businesses, countries, and even the economy. However, it appears small businesses tend to get the hardest hit. • While some braced up for the catastrophic impact of the pandemic, many found themselves sinking into debt. Thanks, to an e-commerce giant such as Amazon stepping in during this period to help covid-hit small businesses. • And while many might have a negative judgment of the company, its impact during this period of crisis cannot go unnoticed. With lockdown measures being eased in most countries, small business entrepreneurs are not just positive but also expecting growth in 3-5 years post covid
Amazon prime day is a game-changer • Not only has Amazon helped small to medium-sized businesses thrive digitally online through online sales, but the company also reported the highest prime day ever since it started. • The sales are huge this time, surpassing $3.5 billion, almost 60 percent year-over-year increase, Amazon explains in a press release.
-Modern Millionaires Review • The annual 2-days prime day was postponed for months as a result of covid 19. • As the lockdown measures eased, the event was held and it seems to be a great one for many entrepreneurs, including the minority business owners. Since the lockdown, the platform is experiencing a continuous spike in sales with no sign of slowing down. • While many might be looking at the negative ways the company has impacted small brick and mortar business (no doubt, with the rapid shift to online shopping due to stay at home order) how about changing the story and see how businesses have benefited from being on Amazon.
Small businesses are going digital • With Amazon’s global selling, small businesses have been able to reach customers across the globe which has boosted their visibility and sales. • From essential goods to handmade artisans to bookselling… you name it. Almost anything can be sold anywhere through the power of eCommerce.
Small businesses are going digital • . It’s no surprise that the number of small businesses registering on Amazon has skyrocket following the ease in the lockdown restrictions. Amazon has won the heart of many small business owners considering the boost in sales and the revenue generate as a third-party seller serving the customers directly through the behemoth platform. • Not to forget that the company represent over 90 percent of all US businesses while providing job opportunities to more than half of the workforce. • This means if you are a brick-and-mortar struggling during the pandemic, and you are yet to dive into the online world, you might be missing out on a whole lot of business opportunities and growth.
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