While Amazon Prime Day was, for all intents and purposes, a huge success, it did reveal some interesting critical things about the state of the economy. This year, Amazon Prime Day delivered more than 12 billion sales. It has perhaps become the biggest shopping event in the US and over 15 countries across the globe. This year Prime Day was touted as being among the best, especially in terms of device sales. And Amazon also partnered with several influencers to try and increase sales of certain products. Influencers did promos, videos, and shoutouts to up the sales of various brands.
However, some financial experts beg to differ about the success, or lack thereof, of this year‘s Amazon Prime Day. While eCommerce has been up since the pandemic, in many cases dramatically so, Prime Day, as a result of inflation, among other factors, was not the overwhelming success the company is reporting. Many financial analysts are saying that sales dropped from previous years. Influencers failed to get the views that were expected. And device and electronic sales were much lower than anticipated. Inflation is, of course, the number one culprit to blame here. There are other factors as well. But what exactly does this suggest about the future of eCommerce?
Amazon Sellers Take Heart
While the reviews may be somewhat mixed about this year‘s Amazon Prime Day, Amazon sellers still have much to be happy about. If you want to become an entrepreneur, particularly in selling or reselling, then Amazon will still be your best bet. So why exactly should you become an Amazon seller…
There’s already a built-in reputation
Amazon, of course, has millions of customers around the globe. Becoming a seller does link you with this customer base and, consequently, their reputation. It is also an extremely reliable platform. Buyers trust it and tend to trust the sellers they encounter on Amazon. You are thus putting yourself at an advantage by selling your goods on Amazon.
Amazon handles some of the work
Versus going it alone, you have a support system in place with Amazon. Not only are they handling the technical details of the platform, but they also deal with the customer service aspect of things. Working with Amazon on Amazon Prime Day, or any day, helps free up your time to focus on other facets of your business.
Very little as far as startup costs
Again, the platform is already there and ready for you to use. You need your laptop, some office supplies, and your inventory, and you are all set to launch your new eCommerce business.
You get to start making money quickly
Why are you in business… It’s to make money, of course. When you start with Amazon, you can make money quicker than if you were to try other venues or try it on your own. Because the platform makes the process so easy, the time between launching your endeavor and collecting your money is relatively short.
First Union Lending is Here for You
If you need cash to help your eCommerce business along, we would love to help. We offer short-term loans, lines of credit, and merchant cash advances, among other financing types. Even for those with less than perfect credit scores, we might still have a funding solution for you. We want to see you grow your business and ultimately succeed. From California to Maine, we’ve helped numerous small business owners quickly get the cash they need. Most of our clients are funded within two business days. We do not leave you hanging for weeks or even months. Our representatives guide you through the loan application step by step. Call today and let’s get started together.