Women have become the majority of small business owners over the last few years. Especially on Amazon and these numbers are rising daily.
This is a fantastic shift in the dynamic of business owners, as it brings more diversity into the heavily saturated market that is Amazon.
Looking for more information about women-owned businesses on Amazon and how to support them? Keep reading to learn more.
For as long as we can remember, the entrepreneur community has long been male-dominated, with men being the largest number of business owners in America. In fact, the United States Census Bureau released data in 2016 that presented to us that most business owners were white males. Up until this point, small business entrepreneurs were rather homogenous.
But this didn't last for much longer. Between 2017 and 2021, the number of women-owned small businesses in the United States nearly doubled. In 2018 and 2019 alone, women were starting up more than 1000 businesses per day.
If that's not surprising enough, women of color businesses grew almost 5x compared to the nation's overall population. This is especially true for Latinx women, who belong to the group of the fastest-growing entrepreneurs in the U.S.
Taking all of that into perspective, it's not surprising to hear that women now heavily dominate the entrepreneur and small business world. Surprisingly, white men are actually the minority now compared to women of color who have taken the initiative to start a business.
If you're wondering what sparked all of this, it's safe to say it comes from a variety of sources. Women working longer hours, seeking higher advancement in jobs, aiming for higher educations, etc. all take part in this major shift. Not to mention the need to buy from small, local businesses ran by BIPOC/LGBTQ+ women.
But one thing that's really been helping is the massive shift from in-store purchasing to online shopping. More people are looking online to sell and shop especially with the pandemic forcing everyone to stay home.
With the pandemic in mind, we have to mention why it's important to shop for women-owned businesses.
We've all heard it a million times, so we'll spare you the pain of having to hear a long lecture about the impact of the COVID-19 pandemic. However, it's still important to keep in mind how hard of a hit that small businesses took during the pandemic
This was especially true for businesses ran by women of color, who were more likely to get rejected for a loan from the government. Interestingly, 28% of white businesses received a PPP loan, and only 18% of Latinx businesses received one. Over 90% of Black-owned businesses were likely to get rejected for a PPP loan.
With many businesses shut down, now is the time to support a woman on her journey as an Amazon seller.
To add to that, women still experience a wage gap compared to men. When women take their financial freedom into their own hands, they are making a commitment to fighting back the system that pays them less than men. You can support this by purchasing products and services from women-owned businesses.
In 2020, Amazon released a page on their site dedicated to the success stories of women. This was a part of their Women At Work mission, with the page showing how women are inspired to change their workplace.
In addition to that, Amazon teamed up with business enthusiast Diane von Furstenberg to create a discovery page that helps buyers find women-owned businesses. This was done in honor of International Women's Day on March 8. The page even features some tips on how you can start your own business.
But how does having an Amazon business help women sell their products?
You'd be surprised.
An overwhelming majority of products sold on Amazon are by small business owners, with a whopping 48% of them being women-owned. At a time of crisis such as the pandemic, it was therefore many women-owned businesses that benefited from the increased demand that consumers placed on shopping on Amazon from the comfort of their home.
Another one of those benefits is the sellers themselves being able to maximize their total cash flow by ensuring that all the money due from Amazon after seller fees, is in fact being distributed to the sellers. How sellers do this is by being reimbursed for any money lost while selling on Amazon. Every seller can do this through a reimbursement team such as ours here at Legacy Sellers.
Something that also goes unnoticed is the impact that these small businesses have on children. It's no secret, kids love Amazon too. It's a fast way for them to pick out toys, clothes, and food items and have them delivered in no time.
When young girls look on Amazon and see these beautiful, inspiring women who've started businesses, it sparks a fire in them at a young age. Thus, Amazon helps foster future entrepreneurs and game-changers.
We couldn't talk about women-owned small businesses on Amazon without naming some of our favorites! Here are a few listed that are taking the over-the-market by storm.
Simplistic- yet stylish, and also made of earth-conscious materials? Yes, please!
This brand, created by Yvonne Naomi, features plenty of fashionable and affordable garments for the everyday woman. Their mission statement is to give a damn about something. What does this mean exactly?
It means using only the most available, but high-quality, material for clothing. It just doesn't stop at that either, a portion of proceeds goes towards cancer research and the ASPCA.
Ever had a lavender latte? If you haven't, you definitely should try it.
What better way to try it than to use an all-natural syrup from an LGBTQ+, woman-owned business?
Carrying plenty of delicious flavors to add into drinks and foods alike, Pink House Alchemy has some of Amazon's best sellers for syrups on the market. This includes their top hit, the Toasted Caramel Simple Syrup.
Did you know that your feet need as much love and care as the skin on your face?
More often enough, we betray the ligaments that help carry us to our destinations just because they're not seen as often as our faces. But in reality, we need to keep the skin healthy on them to prevent pain, damage, and dryness.
That's why you need a reliable foot cream. Footnanny does that, by mixing all-natural ingredients with the good ole southern hospitality to deliver high-quality, best-selling foot creams.
We hoped you are as inspired as us about women-owned businesses on Amazon. The Amazon market is truly a great place to run a successful business, as it's easy to sell your products and reach customers worldwide.
In your Amazon arbitrage, reselling, or private label business you want to make sure you're getting every penny out of Amazon's coffers that belong to you. You can ensure this by working with a reimbursement team that will help you get the profits you deserve.
At LegacySeller, we do just that. What's more, we even help build content and design storefronts to draw in more customers.
When it comes to growing your Amazon business, be sure to check out our services. If you're interested, please visit our contact page and reach out to us to learn more.