Amazon UK Splits Off From EU Marketplace & AMZ SMBs Grow | Helium 10 Weekly News

In an announcement made last week on Amazon UK Seller Central, Amazon reminded sellers that the UK is due to formally leave the EU’s Single Market and Customs Union on January 1, 2021. This will have implications for sellers selling in the six main European marketplaces. FBA offers using European Fulfillment Network (EFN) will not be fulfilled across the UK/EU border as of January 1st, next year. Pan European FBA inventory transfers will stop between the UK and EU.

In other news, Amazon just released their Small and Medium Business Impact Report, and it has some very promising statistics about third party sellers. It’s most noteworthy statistic? More than 2,000,000 third party sellers on Amazon.com sold an average of $160,000 in the fiscal year ending on May 31, which represents a 60% increase from the previous fiscal year. In the same 12 month period, Amazon SMBs added 1.1 million jobs (including 4 months of the pandemic). These businesses also sold 3.4 BILLION products during this time, or 6,500 products per minute! In addition, almost 4,000 sellers reached the 7-figure mark for the first time during that period. In related news, a Mastercard Recovery Report said that in May of this year, e-commerce sales increased 92.7%, and made up 22% of all retail sales. While the current state of things has certainly thrown all of us for a loop, one thing is for certain, it's a great time to be selling on Amazon.

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News For The Week Of 07/20/20 - 07/24/20

1). Amazon Reminded Sellers That The UK Will Formally Leave The EU’s Single Market & Customs Union On January 1, 2021 - Amazon Seller Central

2). More Than 2 Million 3rd Party Sellers Sold An Average Of $160,000 In The Fiscal Year Ending On May 31 - https://www.foxbusiness.com/technology/amazon-small-businesses-coronavirus-sales

3). Amazon Small Businesses Added 1.1 Million Jobs & Sold 3.4 Billion Products This Past Fiscal Year - https://www.fool.com/investing/2020/07/21/amazon-small-business-sales-surge-60-amid-pandemic.aspx

4). Take A Selfie Of Watching This Episode Of The Weekly News. Upload It To Instagram, Tag @Helium10software, & Use The Hashtag #H10weeklynews

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