Amazon CEO Jeff Bezos wrote in his 2018 shareholders letter that third-party sales have grown at a faster rate than first-party sales.
Amazon's third-party business has grown at a faster rate than its first-party business, Amazon CEO Jeff Bezos wrote in his 2018 letter to shareholders.
Bezos attributes this growth to programs like Amazon Prime, Amazon's fulfillment centers, and the selling tools it provides to third-party sellers.Amazon's booming retail business has made it one of the most valuable companies in the world. But according to CEO Jeff Bezos, sales of merchandise from small and medium-sized independent businesses have grown at a much faster rate than Amazon's own first-party merchandise sales.
. That's more than double the 25% compound annual growth rate for the company's first-party business over the same time period.Sales from independent third-party sellers accounted for 58% of the physical gross merchandise sold on Amazon in 2018, up from 3% in 1999.
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