Amazon is Now Just 40% Retail
Amazon's retail business now accounts for just 40.5% of the company's total revenue, marking a new milestone in its evolution from an online bookstore to a commerce infrastructure provider.
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Amazon's Global Marketplace Opportunity
The conventional narrative fixates on gross merchandise volume as the ultimate indicator of marketplace potential. By that logic, Amazon's U.S. marketplace, with an estimated $305 billion in third-party GMV, dwarfs everything, and the conversation ends there.
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Additional U.S. Tariff Costs Exceed $100 Billion
Additional tariffs imposed by the Trump administration caused U.S. customs revenue to surge to $215.24 billion in fiscal year 2025, an increase of nearly $120 billion compared to 2024 and almost $100 billion higher than the 2022 peak of $117.49 billion.
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Death by Valuation: The Amazon Aggregator Autopsy
Thrasio's collapse doesn't prove that consolidating Amazon brands was a bad idea; it demonstrates that executing the strategy during an unprecedented capital bubble made success nearly impossible.
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ChatGPT's Instant Checkout is an Instant Threat
OpenAI's Instant Checkout feature turns ChatGPT into a direct and instant threat to Amazon's most profitable business segment as it launches what will almost certainly be a billion-dollar GMV marketplace shortly after launching.
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China Reaches Global Majority on Amazon
Chinese sellers now represent 50.03% of Amazon's global active seller base, marking the first time they've crossed the 50% threshold across all of Amazon's international marketplaces. But while Chinese sellers have won the numbers game, American sellers maintain an edge in revenue generation.
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Amazon's Big Agentic Bet
If agentic is the future of AI-driven commerce, Amazon just took yet more significant strides ahead of its competition. Its newly enhanced Seller Assistant has evolved from a reactive support system to an autonomous business co-pilot, marking Amazon's most ambitious leap into agentic commerce yet.
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Amazon's Supply-Centric AI vs Shopify's Demand-Centric
Amazon's recent earnings report reveals its fundamentally different approach to artificial intelligence compared to Shopify's platform strategy. Amazon predominantly builds AI to optimize the experience of its customer – the shopper, whereas Shopify builds AI to optimize performance for its customer – the merchant.
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The Single-Product Millionaire
Over 800 Amazon sellers generate more than $1 million annually while listing just one product – a testament to the platform's unprecedented scale and the precision required to reach such focus. According to Marketplace Pulse research, 19 of these sellers are generating over $10 million with their single SKU.
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Pattern: The Anti-Anker
Pattern's IPO filing this month presents a fascinating counterpoint to the Anker playbook for Amazon-native success. While both companies achieved billion-dollar scale starting from Amazon, they chose radically different strategies.
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