August is National Black Business Month, a time to recognize, celebrate, and support Black-owned businesses and entrepreneurs across the country. Most are small businesses, and we provide opportunities for Black-owned businesses so they can start and build thriving businesses, not just within our stores but beyond. We aim to do so.
In 2021, as part of our continued commitment to the success of Black-owned businesses, Amazon: Black Business Accelerator (BBA) Support the sustainable entrepreneurship of our Black-owned businesses. The increased diversity of products these Black-owned businesses offer in our stores allows customers to shop according to their values while enjoying a wide selection that reflects their unique tastes. can.
“It’s great to see how passionate Amazon is about the success of Black-owned businesses like ours, and we saw an immediate increase in exposure and sales. Amazon’s passion for supporting small businesses The momentum has been incredible and we are grateful to them for paving the way for our brand to soar.” —Reggie Kelly, Owner Kaiban FoodsAtlanta, Georgia
How does Amazon help promote Black-owned businesses?
Customers value expanding our product selection from Black-owned businesses, and our commitment to increasing the discoverability of Black-owned businesses and small businesses in our stores is essential to building sustainable growth. It's in the initiative.To improve your shopping experience and help customers discover products from these companies, we Black is a popular shopa destination where customers can shop and learn about inspiring Black business owners.
To ensure Black-owned businesses are prepared for important shopping moments like Prime Day, Amazon is helping Black-owned merchant partners offer deals, leverage Fulfillment by Amazon (FBA), and help them find the best deals. We offer several trainings to enhance your ability to leverage advertising and marketing opportunities for impact. .As a result, Prime Day in 2023 will be Biggest Prime Day event ever for independent sellersMost of them are small and medium-sized businesses, and sales growth at Amazon's stores has outpaced Amazon's retail business. We're excited to continue this momentum throughout the holiday season and ensure our customers have access to a wide range of products from Black-owned businesses in-store.
“The Honey Pot Company achieved significant sales growth on Prime Day, experiencing a 3x increase compared to a typical average day. The impact of Prime Day remains strong, with daily sales averaging 20% —Bea Dixon, Co-Founder and CEO honey pot companyAtlanta, Georgia
How does Amazon help new businesses grow?
We constantly seek feedback from Black-owned businesses, industry thought leaders, and prominent figures in the Black business community so that we can effectively innovate and improve the different ways we support Black-owned businesses and small businesses. Collecting learnings. In response to the demands of small and medium-sized businesses for better early stage education, we have introduced a reinvigorated education system. Amazon Small Business Academy (ASBA) includes a series of free, interactive resources to support entrepreneurs from concept to launch and beyond. ASBA provides early-stage entrepreneurs with access to free foundational business education, industry experts, tools, resources, and networking opportunities, and helps aspiring small and medium-sized businesses, regardless of their status as an Amazon seller. It helps business owners and current small business owners accelerate their success in launching a digital business.
In addition to the educational curriculum, entrepreneurs and small business owners This is a small business Each episode of the podcast reveals key business decisions on a small business owner's path to success. Live engagement opportunities are also available with our new virtual event series. founder tablecovers a variety of topics from the unique perspectives of business professionals and small business owners. Combination with ASBA Amazon Seller UniversitySmall Business provides hundreds of thousands of hours of free educational content to sellers at every stage of their sales journey.
“Amazon is an invaluable partner in my fund, Backstage Capital’s mission to elevate undervalued businesses. We are working harder than ever, and that means founder table, which is a beacon for marginalized businesses.Amazon's founder table has built a lifeline that provides not only capital but also exposure, mentorship, and resources that are often difficult for these companies to access. Our collaborative efforts demonstrate a clear commitment to diversity and inclusion, recognizing that success doesn't always look the same and that we need to broaden our horizons and learn from different voices. It is reflected. ” — Arlan Hamilton, Founder backstage capitalLos Angeles, California
What resources are available to sellers?
Amazon gives independent sellers the best possible experience, including powerful, cost-effective tools and services that help them launch a store quickly, scale quickly, reach more customers, and build their brand. We invest billions of dollars every year to deliver the best sales experience. As part of Amazon's research and consultation with industry experts to understand how to best support small businesses, we worked to understand why economic inequality exists and identify the key drivers of economic inequality. I learned that it is related to lack of access to capital. Directly addressing the needs of underserved communities, we have invested tens of millions of dollars to support the growth of new entrepreneurs and increase product choice for our customers.
“With the world increasingly making their most important purchases from their phones and computers, Amazon has become an important way to learn about and then buy brands. You can't underestimate how important Amazon's commitment to ensuring businesses are set up for success is, not just in traditional retail, but with Naturade VeganSmart and more on Amazon. We believe that Amazon is responsible for the recent tremendous growth in nutrition and weight loss shakes.” —Kareem Cook, Managing Partner and CMO NaturedeIrvine, California
What about funding?
As we continue to expand our services and launch new initiatives to break down barriers to growth for a broader range of small and underserved businesses, in 2022 Amazon and our lending partners We provided $2.1 billion in access to sellers, an increase of 50% year over year.To help sellers in underserved regions with financial needs such as inventory expansion, brand building, and customer acquisition, Amazon Amazon Community Lending This program helps businesses free up cash flow to reach their goals. Furthermore, last year, Amazon Catalyst Capitalaims to provide more startups with access to capital, mentorship, and collaboration opportunities to help bring their ideas to life. This dedicated investment program will initially bring his $150 million in funding to Axela, a venture capital (VC) fund with a track record and commitment to investing in startups with underrepresented founders. Invest in startups, incubators, and venture studios.
“With Amazon's FBA program, we are transforming the dynamics of our operations, strategically relocating inventory across the country, and leveraging Amazon's multichannel fulfillment services to fulfill online direct-to-consumer orders. We also highly value Amazon's advertising tools, which increase awareness of our brand, encourage collaboration with Amazon content creators, and provide discounts to encourage new customer purchases. As a startup, it's really nice to know that we have Amazon's support.” —Makeba Lloyd, Founder and CEO Butter by KebaHarlem, New York
How does Amazon work with the community?
Building community is fundamental to how Amazon supports small businesses, and we continue to expand our strategic partnerships with Black entrepreneurial community organizations.Recently, Amazon National Basketball Players Association (NBPA) and think 450 to develop Brotherhood Deli, a retail experience timed to the 2023 Summer League games in Las Vegas. Amazon highlighted 20 Black sellers with professional “athletepreneur” brands to participate in the NBPA's first fan shop, giving these companies access to a new customer base in the sports industry. We recently joined the Millionaire Marketplace by partnering with SheaMoisture to expand Black-owned businesses on Amazon's SheaList storefront. shea moisture harem block party at essence A cultural festival.
Oprah's Favorite as part of our commitment to empower entrepreneurs and shine a spotlight on small businesses and underserved great products for the hundreds of millions of customers who shop with us. We're raising the profile of the holiday season by partnering with celebrities like Oprah Winfrey and Ayesha Curry, who are on the holiday list. Key shopping moments and all year round. Additionally, last year we sponsored Boss Women Media. Developing women for the future Holding a pitch contest tour, black girl magic digital summit Premiered on Prime Video.Looking to the future, Amazon Fearless Fund VC Summit Held in Atlanta on August 18th and 19th, a select panel will talk about building wealth through e-commerce and connecting with women entrepreneurs.
“Our Amazon Account Managers become part of the Lyrally Correct family and have our best interests at heart. BBA gives us access to people, information, and resources that would not have been possible without the program. – Donte Jones, Co-Founder/CEO lyrically correctLinden, New Jersey
The education, capital, and community that selling in Amazon's stores provides, coupled with the trusted shopping experience Amazon creates for its customers, enables Black entrepreneurs to build brands and reach millions of customers around the world. Unleash a powerful, proven economic engine that can sell your products. . We're proud of the progress we've made in partnership with Black-owned businesses, and we want to make it easier for our customers to discover and shop the successes of Black-owned businesses and the great selection they offer. We will continue to work hard to achieve this goal.
To shop the Amazon Store and discover Black-owned businesses, visit: buy black storeClick and look for the Small Business and Black-Owned Business badges.
Learn more about how Amazon supports Black-owned businesses.