Amazon sellers millionaires post selling online business - The e-commerce giant has not only made its founder Jeff Bezos the richest man in the world. It has also allowed many small sellers through Amazon to sell their products and earn huge sums of money. So much so that many have become millionaires almost without realizing it.

This is the example of Michelle Venton, who worked in a large company and decided to leave everything to start selling dresses that she designed herself through Amazon. Eventually he left his dresses and began selling gifts that parents could buy at the last minute to give to their children. The idea was a success and the business skyrocketed.

Finally in 2019 he ended up selling the company for a millionaire value. "Becoming a millionaire was never part of the plan, but I saw an idea and thought; this can work," she says for the British BBC channel.

Amazon sellers millionaires post selling online business

The case of Michelle Venton is just one of the many small entrepreneurs who have found in the Amazon marketplace a niche in which to sell their products by the thousands. Amazon has become the perfect showcase for these sellers who take advantage of the huge user traffic that the platform has to position and sell their items. And it is that Amazon works in two ways, as a mere intermediary or as a buyer of third-party products.

One of the most widespread practices among sellers is resale. Ty Blun, a young American, started in 2019 buying Weight Watchers weight loss calculators on eBay at a very low price, then reselling them on Amazon.

Amazon sellers millionaires post selling online business: Between May 2019 and the same month of 2020, it managed to generate more than 1.5 million dollars (1.2 million euros). His incredible growth was based on a simple but cunning strategy; using a tool that automatically adjusts the price of his product a penny cheaper than the competition, he managed to sell thousands of these calculators.

Amazon's volume means that if the products and marketing are right, small sellers can sell large quantities quickly.

Amazon sellers millionaires post selling online business

In this sense, e-commerce-due to the pandemic that forced thousands of physical stores around the world to close for months - has skyrocketed and many stores have seen their sales despite being physically closed skyrocketing.

When Michelle Venton sold her trade to a larger firm, it was rare that such operations would take place. That is, larger owners acquiring entire businesses that were born on Amazon. However, today there are companies specialized in these transactions, such as the American Thrasio, one of the largest and best known in the sector.

Thrasio buys one to three companies a week.

Amazon sellers millionaires post selling online business

These types of companies, known as brand aggregators, have a very clear idea, buy from those who sell the most on Amazon. In this way, they look for sellers who have managed to position themselves above the gigantic volume of items for sale on Amazon, accumulating positive customer reviews and appearing on the first or second page of items that appear in user searches.

"Back then [in 2018], it took seven months to sell a company, there were more sellers than buyers, and it was a huge mess. It was all a horrible experience for the salesmen, " says Josh Silberstein, founder of Thrasio for the BBC.

Amazon sellers millionaires post selling online business: An example of this business is the Davaon garden tools brand, founded by David Stephen. This British retailer, following advice from his wife, embarked on the Amazon marketplace adventure with garden tools by flag. In a short time, they managed to bill more than 2 million pounds a year, 2.3 million euros, buying the products from suppliers in Taiwan.

Finally, Stephen sold his company to the Heroes brand, and with that guaranteed a dream retirement.

However, both he and his wife are already thinking about what their next business at the tech giant will be.

Amazon sellers millionaires post selling online business

More news:

Spain, among the European countries in which the risk of poverty rate increased in 2020

Spanish households continue to notice the two sides of a pandemic that has ramified its impact in very different ways.

The statistics published by the Statistical Office of the European Union (Eurostat) on July 5 show that the savings rate of families in the euro zone has grown to 21.5% during the first quarter of 2021, but also that the risk of poverty rate in our country grew during 2020.

A country's at-risk-of-poverty rate is the percentage of people with a disposable income below the defined poverty line. This threshold is set at 60% of the average annual income "per consumption unit", and in Spain the National Institute of Statistics establishes it in its latest data offered, of 2019, at 9,009 euros per year for a household of one person.

This indicator, details Eurostat, does not measure the country's wealth or poverty: it shows the percentage of low incomes compared to other residents of the country. That is to say, in a country of contrasts like Spain, there may be more savings, but at the same time less part of the population with the capacity to achieve it.

Spain is one of the Western countries where savings have grown the most during the pandemic. Moody's ranked our economy as the fourth country with the most family savings in 2020 and the National Institute of Statistics revealed at the beginning of 2021 that, in the previous year as a whole, the savings rate of national households was estimated at 14.8% of their disposable income.

Various experts have attributed this saving capacity to the lack of consumption options resulting from the confinement and closure of many economic activities.

Faced with the impossibility of spending that the pandemic has caused, many Spaniards have taken their savings and been making piggy banks. This trend has continued throughout the euro zone, composed of 19 countries, during the beginning of 2021.

The savings rate of continental households in the first quarter of 2021 has reached 21.5%. This figure represents an increase of 2% compared to the last quarter of 2020, and is also the highest value recorded since the monitoring of the statistics began in 1999.

This milestone has been achieved despite a 7.2% drop in average wage earnings across the euro area, mainly due to the "unprecedented rise in the number of workers absent from work or working reduced hours", according to Eurostat.

The European statistical agency assures that household income has remained stable throughout the European Union, but also warns that the working population that ended 2020 at risk of poverty has increased significantly in Spain, Portugal, Greece, Italy, Ireland, Slovenia, Bulgaria, Austria and Sweden.

The Government's 2050 plan states that Spain is the fourth country with the largest population at risk of poverty in the European Union, with average figures between 2015 and 2019 of 22%. It also ranks the country as the third among all partners with the highest income inequality.

The executive's intention is to reduce that percentage to 18% by 2030, and to 10% by 2050. For the time being, the figures provided by Eurostat reflect the way ahead to correct the current course.