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Amazon (AMZN) Organizes Event for Women Entrepreneurs

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Online retail giant Amazon.com, Inc. (AMZN - Free Report) hosted its first Women’s Entrepreneur Conference yesterday at its global headquarters in Seattle.

Although Amazon has organized such events for its third-party marketplace sellers in the past, this was the first of its kind, intended for women entrepreneurs who sell on Amazon.

The event was attended by 300 women entrepreneurs.

AMAZON.COM INC Price

Why this Move?

Phenomenal Growth: According to Peter Faricy, Amazon’s vice president of worldwide marketplace, women-owned businesses on Amazon’s marketplace platform have shown phenomenal growth, outpacing general business trends by five times. This could prove to be a very lucrative segment for the company in the long run.

Broader Inventory: Amazon’s marketplace currently attracts 300 million shoppers from around the world. Out of the total orders, nearly half are fulfilled by 2 million third-party merchants. This leads to a broader selection of inventory.

Key Takeaways

The event featured women business leaders such as Marla Malcolm Beck, the co-founder of Blue Mercury – a beauty and spa retailer – that was sold to Macy's, Inc. (M - Free Report) in 2015 for $210 million.  

Additionally, the event gave a chance to other Amazon sellers and executives to voice their opinion on global business expansion strategies, Amazon app-based business monitoring on smartphones as well as inventory stocking and price setting during the peak shopping seasons.

Our Take

Of late, Amazon has shifted its focus toward corporate responsibility. Notably, the company made amendments to its parental leave policies following an expose in the New York Times. Additionally, the company partnered with a non-profit organization in Apr 2016 to help the homeless in Seattle.

Yesterday’s event was a gesture by the company to acknowledge women entrepreneurs and help them learn and grow.

Zacks Rank

At present, Amazon has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology space are Autobytel Inc. and PetMed Express, Inc. (PETS - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).

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