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How Consumers and Small Businesses Benefit from Innovation in Retail: A Prime Example

As some lawmakers misguidedly push anti-tech legislation and others blame high prices on leading American businesses, retailers are announcing sales and offering small businesses an opportunity to reach millions of customers. A prime example: this year’s Amazon Prime Day was the biggest ever, and amid historic inflation, consumers and small businesses benefited greatly. Prime members purchased more than 300 million items worldwide and saved over $1.7 billion.

With inflation rising a whopping 9.1% in June, financially-squeezed Americans snapped up deals and small businesses sold millions of products. The need for relief was clear: although luxury items like consumer electronics were a big draw, around 58% of orders were for items under $20 according to a Numerator survey of Prime Day purchases from 21,306 households. Basics like diapers, wipes, kitchen supplies and pet products were among the best-selling items.

Small and medium-sized businesses (SMBs)–which make up most of Amazon’s selling partners–saw sales growth that outpaced Amazon’s own retail business. Customers spent over $3 billion on more than 100 million small business items in the three weeks leading up to Prime Day.

Online sales channels are increasing competition in retail that is serving both consumers and small businesses, particularly at a time of economic uncertainty. Marketplaces like provide entrepreneurs with one more viable option to reach new customers, sell their products and grow their business.

Lawmakers pushing the false narrative that Amazon threatens small businesses and competition seem especially out-of-touch on the heels of Prime Day, where consumers saved big and small business thrived.