The world of eCommerce is changing fast. And if you want to keep your business afloat, you should keep an eye on the new trends and do your best to keep up with them.
In this article, we will take a look at fascinating Amazon statistics and explain how recent changes in customer behavior may affect your sales. Keep reading, and you will learn how to make your Amazon business thrive in 2020.
Amazon sells more than 12 million products
It’s hard to believe, but Amazon has built an enormous catalog of more than 12 million products, books, media, wine, and services. What about the total number of items available at Amazon Marketplace, it exceeds 350 million.
What do these statistics mean to you? It means that no matter what your business is all about, you can sell your products on Amazon. Whether you offer iPhone cases, cheese, or yoga pants, you can find your niche on this platform.
However, you should understand that the competitive climate on Amazon is at an all-time high. And the more sellers enter the marketplace, the more challenging it gets to keep the profit on the same level.
More than 50% of all Amazon sales come from third-party sellers
The number of third-party sellers continues to grow: the share of third-party sellers has been rising from 40% in 2013 to 56% at the end of 2019. These statistics prove that more and more sellers are choosing to operate on Amazon as direct-to-consumer businesses rather than as first-party sellers.
On the one hand, that offers sellers greater control and ownership over their business. But on the other hand, sellers have to deal with such issues as poor seller service, a lack of customer data, and unexpected changes in the marketplace. You should weigh up all the pros and cons and choose the business model that suits you the best.
Prime Eligibility informs purchase decisions for the majority of shoppers
Market realist posted a survey showing that Amazon grew its Prime subscribers by 5.0 million in three months. That means that consumers consider Prime eligibility as an important factor when they are choosing a product. The vast majority of buyers stated that they filter specifically for Prime items when shopping on Amazon.
If your products are currently not marked as Prime-eligible, you should fix it in 2020. It will allow you to make your products seen by more shoppers and increase sales.
9 out of 10 Buyers Visit Amazon to Price Check and Read Reviews
Most of the consumers tend to use Amazon throughout all the stages of their buying journeys, including price checking, product reviews scanning, and purchase making stages.
Two-thirds of online and offline shoppers typically start their search for new products on Amazon. And nearly three-fourths of the shoppers go to Amazon when they are ready to buy a specific product.
Screenshot source: The 2019 Amazon Consumer Behavior Report on Forbes
If you want to attract more buyers, you should set a reasonable pricing strategy and choose a reliable Amazon review management tool for your store. Or you can also consider using this reputation management software if you have multiple platforms. Adequate prices and numerous positive reviews – these all you need to boost online sales in 2020.
Nearly half of consumers check only first and second pages of search results
When searching for a specific product on Amazon, 44% of consumers scroll through the first two first pages of search results only. And around 26% of shoppers frequently buy the first item listed on an Amazon search results page.
These Amazon seller statistics may make you believe that you should strive to gain the top-ranked position to get your brand noticed. However, that’s not quite true.
It may surprise you, but 21% of consumers rarely or never buy the first product listed on an Amazon search results page. Shoppers prefer to consider three or more options before making a final purchasing decision. So if your products are displayed on the second page, you don’t really need to try to push them to the first page.
Consumers at age 18-21 are more likely to shop using voice-activated devices
As for today, only 2% of Echo owners have purchased a product on Amazon using Alexa. But since the number of voice-activated speaker owners is growing exponentially, it’s expected that the number of orders placed with the use of voice search will skyrocket in 2020.
“As a seller, you should get ready to capitalize on the growing trend, especially if your target younger shoppers. You should adapt the product description to voice search. If you do it before your competitors do, you will get a competitive advantage,” says Andreas Brito, writing service reviewer at TopWritersReview.
Over 1/3 of consumers buy online weekly or more often
Today, consumers buy products online more often than they do ever before. The survey featured on Forbes showed that more than 58% of shoppers buy products on Amazon at least once every few weeks, and 18% of people place an order online at least a few times a week.
And that’s a positive trend. Since modern customers are ready to make purchases on a regular basis, it’s getting easier to increase repeat purchases. If you sell high-quality products and provide adequate customer service, you can expect that your new customers will place the second order soon (next month, not the next year).
Consumer loyalty to Amazon is absolute
In recent years, Amazon has become an integral part of day-to-day consumer life. Whether shoppers have an intention to buy a specific product or whether they are “only looking around”, they visit Amazon.
The results of the customer survey revealed that 48% of consumers visit the platform at least a few times a week, and 89% of consumers visit the platform at least once a month. These statistics prove that Amazon’s influence on online retail culture is getting stronger.
Experts expect that this trend will continue in the coming years. So if you have chosen Amazon as the primary platform for doing business, you have made the right choice.
Amazon seller statistics show that you have plenty of opportunities to grow your retail business in 2020. All you need to do is to focus on the current needs of your customers and keep your eyes on the trends. If you adjust your marketing strategy in a proper way, nothing will hold you back from reaching your business goals.
Daniela McVicker is a blogger with rich experience in writing about UX design, content planning, and digital marketing. Currently, she is the chief contributor at many authoritative sources where she helps individuals and organizations improve their web content writing, design, and planning skills. You can check her last Grabmyessay review. Her posts are always packed with examples and actionable content that readers can put straight into the action.