Amazon’s private-label brands reportedly booked almost $450 million in sales in 2017
21 Dec 2017
Amazon’s private-label brands booked almost $450 million in sales in 2017, with AmazonBasics accounting for 85% of the sales, according to OneClickRetail.
Amazon has launched dozens of private-label brands — apparel, electronics, even baby wipes — in recent years. That effort is starting to show signs of growth.
According to a new report by OneClickRetail, Amazon’s private-label brands have generated roughly $450 million in sales in 2017. The majority of sales came from AmazonBasics, which sells such items as batteries and computer cables, accounting for 85 percent of total private label sales.
But the biggest growth came from Amazon Elements, which primarily sells Amazon-branded baby wipes. The report said Amazon Elements’ sales nearly doubled from last year and booked over $15 million in sales this year. Whole Foods’ 365 Everyday brand also saw strong growth, with a weekly growth rate of 9 percent, the report said.
“This year, Amazon’s private brands showed enough success stories to guarantee that Amazon won’t be backing off any time soon,” OneClickRetail CEO Spencer Millerberg said in the report.
Still, private-label brands make up only a tiny part of Amazon’s overall business. Amazon is expected to generate $177 billion in revenue this year, according to FactSet, which means private-label brands accounted for only about 0.2 percent of Amazon’s total revenue.
Source: Yahoo Finance UK