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Amazon’s Record-Breaking Third Party Holiday Sales Jump 50%
From StockNews.com: Retail titan Amazon.com, Inc. (NASDAQ:AMZN) said today that its holiday shopping numbers were bolstered by a sharp uptick in third party sales.
Along with selling its own items, Amazon allows other companies to leverage its platform to sell products. The company said that it sold 50% more items from third party vendors this past holiday season over 2015, and doubled the amount sold in 2016 as a whole. From Reuters:
More sellers are paying the company to store, pack and ship their goods through the Fulfillment by Amazon service. Amazon more than doubled the items it delivered for other sellers in 2016 from the year prior to exceed two billion, a spokesman said.
Active sellers using the fulfillment service rose more than 70 percent in the year, Amazon said on Wednesday. It did not specify the total number of vendors.
Amazon takes a cut of the proceeds of each third party sale, plus stocking more items via third parties means the Amazon platform remains the largest and most varied of its kind. The company noted its third party numbers were “record breaking” in 2016.
Amazon.com, Inc. shares rose $1.33 (+0.18%) in premarket trading Wednesday. Year-to-date, AMZN has gained 11.51%, versus a 12.85% rise in the benchmark S&P 500 index during the same period.
AMZN currently has an StockNews.com POWR Rating of B (Buy), and is ranked #11 of 44 stocks in the Internet category.
This article is brought to you courtesy of StockNews.com.
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