Everything You Need to Know About the Amazon Productspandabrand
Amazon Products You Should Know: Opportunities to Make the Most of America’s Top Online Marketplace PandaBranded.com
In the world of ecommerce, Amazon is a tool that online sellers simply cannot afford to ignore Amazon Products.
In the 25 years since its creation, Amazon has grown to become the top ecommerce platform in the country.
Each month more than 197 million people around the world get on their devices and visit Amazon.com.
That’s more than the entire population of Russia.
In 2018, Amazon’s share of the US ecommerce market hit 49%. That’s 5% of all retail spent across the entire country.
To put things in perspective, this is more than Amazon’s top three competitors combined, with eBay coming in at 6.6%, Apple at 3.9% and Walmart at 3.7%.
Needless to say, Amazon is the leader in online sales, with no sign of slowing down anytime soon.
As we kick off 2019, many sellers are asking themselves how they can get a bigger piece of the lucrative Amazon pie.
Well, it all starts by understanding the platform’s key areas of opportunity, as well as acknowledging the issues and hurdles Amazon sellers face.
Here, we will highlight some of Amazon’s big wins from 2018, trends we are beginning to see form and things for sellers to watch out for moving forward. In the end, you will have a comprehensive understanding of the current state of the Amazon marketplace and have the tools you need to maximize your Amazon presence in the upcoming year.
10 Fascinating Amazon Statistics Sellers Need To Know in 2020
- 9 out of 10 consumers price check a product on Amazon.
- 2% of Echo owners have purchased a product via Alexa.
- Amazon sells more than 12 million products.
- Amazon sells over 1.1 million home improvement products.
- 95 million people have Amazon Prime memberships in the US.
- $1.4K is the average spent by Amazon Prime members each year.
- FBA gives sellers a 30-50% increase in sales.
- Amazon shipped over 5 billion items worldwide in 2017.
- More than 50% of all Amazon sales come from third-party sellers.
- 80% of sellers also sell on other platforms outside of Amazon.
A Shopping Experience Beyond Compare
In the fast-paced world of ecommerce, the way consumers shop online is always changing. Just think about how different online shopping is now than it was when Amazon launched back in 1994 – or even how different things are now than they were 10 years ago.
As consumers’ online shopping behaviors continue to change and new technology is introduced, let’s take a look at how customers are shopping on Amazon and ultimately making their purchasing decisions.
1. 9 out of 10 consumers price check a product on Amazon.
Dominating nearly half of the US ecommerce market, Amazon is one of the first places consumers turn to when searching for and comparing products.
Even after finding a product on a competitor’s website, 90% of people will head to Amazon and search for the same product.
Amazon: Everything to Everybody
As the nation’s largest online marketplace, Amazon has a nearly endless variety of products to choose from.
Every day, customers search for and sift through millions of products in search of the one that will meet their needs. As Amazon’s product offering continues to grow, let’s explore how this is affecting sellers, both on- and off-line.
3. Amazon sells more than 12 million products.
“Our vision is to be earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online.” This is Amazon’s mission statement.
As part of its mission to help customers “discover anything they might want to buy online,” it is crucial for Amazon to sell as many different products as possible, across as many industries as possible.
In its quest to be all things to all people, Amazon has built an unbelievable catalog of more than 12 million products, books, media, wine, and services.
If you expand this to Amazon Marketplace sellers, as well, the number is closer to more than 350 million products.
This is great for Amazon but is also quite daunting for sellers. On a platform that is endlessly seeking to increase its product offerings, the competitive climate is at an all-time high.
4. Amazon sells over 1.1 million home improvement products.
For some time, the home improvement industry was believed to be immune to the dreaded “Amazon Effect.”
The spontaneous nature of many home improvement projects and comfort of having a professional help you pinpoint the perfect product continued to drive shoppers to major brick-and-mortar stores like Home Depot and Lowe’s.
However, a recent report by Jumpshot shows that Amazon has more than 80% market share across the home improvement industry, and its growth continues to outpace everyone else in the category.