There will be an influx of new sellers on Amazon
Amazon will continue to dominate the e-commerce space. After the pandemic struck, the company’s revenue jumped 40% compared to the previous year, reaching $88.9 billion.
The COVID-19 pandemic has affected every person and almost every business on the planet, but it has been especially impactful for businesses in the e-commerce space. According to data from IBM’s U.S. Retail Index, the pandemic has sped up the shift from physical, in-person shopping to digital shopping by roughly five years, writes Nasdaq.
The impact of COVID-19 was even more significant for Amazon, which became the default shopping store for many during the pandemic.
There is no doubt that Amazon will continue to dominate the e-commerce space. After the pandemic struck, the company’s revenue jumped 40% compared to the previous year, reaching $88.9 billion.
Nevertheless, fewer new third-party sellers entered Amazon during 2020 than in previous years, particularly in the U.S. Since the start of 2017, 4.5 million new sellers globally have joined Amazon, and the platform added over one million new sellers in 2020.
This trend is the result of the double-edged sword the pandemic has brought to the e-commerce sector. E-commerce may be booming, but economic uncertainty is preventing many people from making the jump into a new venture.
Once the pandemic starts to subside, there is going to be an influx of new sellers trying to take advantage of Amazon’s continued dominance.
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