In his second annual Shareholder Letter, CEO of Amazon, Andy Jassy shared many valuable insights for Amazon sellers looking to grow their businesses.
Whether you took all twenty-six mins to read the entire letter already or you're looking for some key takeaways, the Frisbi team has you covered! Our mission at Frisbi is to help Amazon Sellers expand their businesses in markets around the world, and Jassy's letter highlights some exciting opportunities for growth and innovation.
International Growth & Expansion
Jassy's letter reveals that Amazon's international consumer segment generated $118 billion in revenue in 2022, indicating a promising future for sellers looking to tap into global markets. As Amazon continues to expand its international footprint, Frisbi will help you navigate new markets and seize growth opportunities. Sign up for a FREE Frisbi account today to start growing your international brand!
Growth Challenges & Opportunities
The letter emphasizes the potential for growth in the $800 billion US grocery market through Amazon Fresh and Whole Foods Market. As Amazon sellers, you can capitalize on this trend by expanding into grocery-related categories and catering to evolving consumer needs all over the world. Frisbi helps with reviewing product labels, license and compliance requirements before even entering a new market!
Logistics & Fulfillment
With Fulfillment by Amazon (FBA) handling over 3.4 billion customer orders in 2022 and delivering over 2 billion items via Prime, it's clear that efficient logistics and fulfillment are crucial for sellers' success. At Frisbi, we understand the importance of seamless logistics, and can help you enter new international markets all over the world, from Canada to the United Arab Emirates.
Amazon Marketplace Growth
Over 3.4 million active sellers on Amazon Marketplace contribute to more than 60% of retail units sold. The growing number of sellers reinforces the need for innovation and differentiation to succeed in this competitive landscape. Amazon's fastest growing markets worldwide continue to show strong growth numbers according to Marketplace Pulse. With Frisbi's expertise in international growth for sellers, you can stand out and expand your business in these countries quicker and easier than ever!
New Services for Sellers
Jassy highlights the Buy with Prime feature, which has increased shopper conversion on third-party sites by 25% on average. This offers a unique opportunity for sellers to leverage Amazon's trust and reputation to boost their own sales outside the platform.
Exciting Opportunities in Healthcare & Connectivity
Amazon's acquisition of One Medical and their ambitious Project Kuiper illustrate the company's commitment to innovation and growth. While these ventures may not directly impact your current business, they reflect Amazon's dedication to addressing customer needs and exploring new markets, which is something every Amazon seller can learn from and emulate.
For more of an in-depth look, we published our 23 the top takeaways for 2023:
