Thriving Small Businesses in Kentucky Revealed by Amazon Report
In 2024, the world of retail witnessed a significant transformation, with small businesses taking centre stage on Amazon's online marketplace. The 2024 Small Business Empowerment Report, available at this link, highlights this transformation, showcasing the success of independent sellers on the platform.
One such success story is Heirloom Traditions Paint, a small business based in Taylorsville, Kentucky. Founded in 2013 by Paula Blankenship, this business has leveraged Amazon's tools and innovations to great effect. In 2024 alone, Heirloom Traditions Paint moved over 20 million items through Amazon, a testament to their growth and customer appeal.
The report demonstrates that Amazon's online marketplace has been instrumental in helping small businesses scale their operations since the launch of Fulfillment by Amazon (FBA) in 2006. With FBA, small businesses like Heirloom Traditions Paint have been able to offer same-day or next-day delivery to customers, a feature that has greatly benefited both the businesses and the consumers. This accelerated sales growth has been a key factor in the transformation of retail.
Independent sellers have shipped over 80 billion items through FBA, allowing them to focus on product development while offering fast, reliable shipping. This shift has been particularly beneficial for businesses in regions like Kentucky, where entrepreneurs are using Amazon's infrastructure to reach customers beyond their local markets.
The report also highlights that small businesses, nationally, have generated over $2.5 trillion in sales over the past 25 years on Amazon. Moreover, more than 2.5 billion items have been exported globally by small businesses on Amazon since 2000.
In Kentucky, local sellers, on average, made over $180,000 in annual sales in 2024. The success of small businesses in the state is further evidenced by the fact that over 20 million items were moved by small businesses in Kentucky through Amazon in 2024.
Amazon's Air Hub, located at Cincinnati/Northern Kentucky International Airport, plays a crucial role in this success. As the company's largest hub worldwide, spanning 800,000 square feet, it ensures swift and efficient delivery of items to customers across the globe.
The transformation in retail, driven by the success of small businesses on Amazon's marketplace, has also had a positive impact on rural areas and small towns across America. Sales for small businesses in these regions have increased by 30% year over year, contributing to a broader economic revitalisation.
In conclusion, the story of Heirloom Traditions Paint is a shining example of the power of Amazon's marketplace in empowering small businesses. The report underscores the strength of small businesses in regions like Kentucky and the positive impact they have on the wider economy. As we move forward, it is clear that the future of retail is bright for small businesses on Amazon.
