Twenty years down the line, Amazon is one of the biggest e-commerce portals not just in the US but all over the world. With a market cap of $275 billion and over 3 million products to choose from, Amazon is definitely a force to be reckoned with.
The company has grown from selling books, CDs, and building materials to practically anything consumers need. Amazon Prime is what keeps many customers returning to shop at Amazon. Therefore, it's not surprising that many competitors must learn from Amazon. In fact, I'veI's come up with five things that retailers can know from Amazon'sAmazon's marketing tactics.
We know what you're you're thinking because we used to believe it too. Amazon is for big brands, right? Wrong. While it's true that big brands might have the upper hand in sales volume. But if you want to compete with them on this channel, you need state-of-the-art tools and techniques.
Do you know the Popularity of Amazon?
The popularity of Amazon is indisputable. It leads to listing the most-discussed and highest-selling items, and it's growing all the time. It almost feels as if everyone uses the app, or else there would be no way to get these top sales. It'sIt's no wonder then that conversations are happening about getting free items in apps such as Amazon and iTunes.
With an increasing number of people shopping online, having a mobile app for your e-commerce site is essential. Instead of web browsing, Mobile shopping is entirely different from browsing a bookstore with thousands of titles to choose from. To keep up with all the trends and changes happening in this field, keep up to date with mobile app development.
Keeping all these things in mind, it comes as little surprise that Amazon also ranks first among the most-visited mobile retail properties in the United States. In September 2018, more than 63 million users accessing Amazon Sites exclusively through their mobile devices, making it the most popular platform among mobile-only online visitors. Mobile commerce is a $5 trillion industry in the United States alone and is projected to grow at an annual rate of nearly 10 percent through 2020, according to research from iSpot. Amazon is now among the most popular mobile commerce brands in North America, owing mainly to its excellent user experience and commerce selection tools.
Why everyone loves Amazon?
In my previous post on consistency, I argued that consistency is another key to longevity in the online business space. As a blogger, it seems to be even more critical. You need to build trust with your audience. Trust is tough to make when operating multiple businesses on the same platform. To create it, you need to develop some performant skills and put them together in sequence.
Today's apps have a shopping component to them. There are grocery apps, fashion apps, etc. Some have shoppers messaging them constantly, while others use boom gate, which is more like Facebook messaging. However, people trust Amazon much more than other retailers, and it's because of that trust factor they buy much more frequently through Amazon than other retailers. Numerous studies have shown that people spend more every time they shop with Amazon than other retailers. It'sIt's not just because of its price, but also because of what customers get. They typically get free 2-day shipping if paying cash and Prime membership if paying with a credit card and a 30-day return policy, as well as hundreds of other special offers which make it easy to buy from Amazon.
When people trust you, they'll buy from you. You can't be a startup if customers can't trust you. It's common for startups to build trust as early as possible, and often the easiest way to do that is by getting customers to use a product or service for free. Using "free trials" and other offers, entrepreneurs can quickly build goodwill with their customers. You can also use these same techniques to build up your already-belonging customers' trust.
You're trying to build a brand or business. You've gone to a lot of trouble, acquired a lot of inventory/service, and now you need to figure out how to sell it. If you did everything right, you should have a great demand for your goods and be getting great cash-back offers from retailers who want your business. But all this is before you even start selling anything! The next step is to get people to talk about your product. That means building relationships with customers and their friends, which allows you to speak to brands.
Amazon products with the most traffic
Let's get one thing out of the way. Electronics is a vast category. That's why it was the most popular pick for electronics and hair among consumers. However, it is not the only category that makes up 50% of Amazon traffic. Clothing and Home/Kitchen (45%) also made an appearance in our data as well as Education (8%), fashion/cosmetics (7%), and beauty and personal care (5%).
Amazon is constantly increasing its product and category coverage on the platform. This means that it's also growing to attract new types of customers and various niches. Amazon's diverse range of products is one of the core strengths that help it highlight itself prominently among the competition. With the constant evolution taking place in retail, it's not surprising that Amazon could out-innovate its main competitor and become one of the most preferred retail websites in the world. Customers now expect innovative brands and products and high-quality customer service from retailers.
Expanding its categories also means that it's becoming accessible to new audiences and constantly expanding its target market to reach as many individuals as possible. But it does all this while at the same time maintaining quality standards that build trust. While new categories may seem daunting, they shouldn't turn off your growth or create a plateauing effect. The key is to take a step back from the latest types and look at the core values that drove them. Were they adopted from third-party guidelines or best practices? Were all votes and surveys are taken into account? Are there no cross-reviews with your peers?
How to Drive Purchase Decisions on Amazon
How prices are displayed, across all product types and vendors, across the Amazon.com marketplace has proven to be highly effective in driving consumers to make purchasing decisions. For example, when prices are presented visually across a product detail page in line with competitor images, 70 percent of visitors are satisfied with the price they receive — showing that they are willing to pay the premium to see additional information and pictures about a product before deciding whether or not to buy.
Prime is rapidly becoming the undisputed king of online shopping, while Amazon continues to try and grab some of the high-value pie. In fact, one survey shows that for every dollar spent at Amazon, shoppers are willing to pay an additional nine cents on Prime, while the next most popular product is crack cocaine (at 10) 😅.
Usage of Amazon by Devices
Again, there are many variables at play here. Most Amazon shoppers use desktop computers or laptops. But when it comes to browsing e-commerce websites, mobile shoppers are king. According to a survey commissioned by the CPC Strategy and conducted by Mintel International, the marketplace giant's Simply Measured North America Online Shopping Study, mobile shoppers act as a "gateway drug" that draws more primary shoppers to the Amazon ecosystem. The study found that roughly half of the consumers (49%) visited an e-commerce site within three days of leaving a mobile device. Only 27% actually went to their traditional computer or mobile device to complete a shopping trip on the site.
It's no surprise that Amazon has a user-friendly interface. In fact, it offers several features that make shopping more accessible than ever before. There's the ability to ask Alexa what your daily menu is with the option of having custom meals delivered straight to your home, better order tracking than any other e-commerce site, and access to free shipping via Kindle Fire TV or Fire Phone if you wish to cut the labor expenses. This statistic doesn't show how many of its users have actually bought something. This statistic isn't just about fulfillment or customer satisfaction — it's about how buyers use voice-enabled devices in their daily lives.
Consumers use many different devices to purchase entertainment, from mobile phones and tablets to wearable devices and other media players. As you can see, the most popular devices for entertainment consumption are mobile phones, followed by tablets, according to the 2012 comScore Consumer electronics index. Additionally, certain age groups have different device preferences based on their overall comfort using a computer or mobile device. For example, consumers between the ages of 35 to 54 were more likely than younger consumers to prefer using a mobile device to access the internet using search engines, social media services, and apps. When it comes to web browsing preference, those in the 55 and older group were more likely to shift to desktop computers. In addition to this statistic,
Mobile browsing is an essential part of the overall Amazon purchase journey. According to a recent survey by Akamai, 93% of Americans now check out online products from mobile devices. Mobile checkouts are up 50% over last year when it comes to desktops, and 75% of Americans shop online this way. Mobile traffic accounts for more than half of all traffic to websites, and as these companies continue to improve their mobile browsing experiences, increased purchase intent will continue to fuel continued business growth.
Items Sold on Amazon per Minute
Have you ever wondered how many sellers there are on Amazon? The worldwide total of sellers on Amazon was 9.7 million at the end of Q1 2018, according to a recent report by Shopify Insights for Marketplace Pulse (via Amazon Marketplace Developer). This number grows to more than a million during a year – a sign that people are flocking to Amazon to sell their products. However, one would have to wonder how these sellers are finding each other and making sales. That's where the magic behind the scenes begins…
With ever-increasing competition on the web and a massive selection of products to choose from, it can be hard to stand out from the crowd. How do you stand out when so many shoppers are looking through your product listings? The number one way to stand out is through Amazon's Seller Network Direct program. 19 percent of sellers say they have signed up to use this service to sell products, and 8 percent of sellers have launched their own apps for the Amazon Mobile App Marketplace.
After we looked into Amazon statistics, it's clear that Amazon is a household name and doesn't seem like going anywhere anytime soon. Amazon has various ways beginner or expert entrepreneurs can use to sell their products to many different industries. We hope these numbers give you an understanding of why Amazon's marketplace is a platform that requires your attention.
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