Today, brands are looking for every possible way to find success and make sales. When it comes to performance, one giant has risen to the top of every conversation: Amazon. For brands, navigating the tricky waters of Amazon and figuring out how to respond to the company’s massive growth is top of mind. Should brands view Amazon as a unique and exciting opportunity that will reap great reward, or is it a risk to their sales ability and a way of giving up the autonomy they once had on their website and in their stores?
With 209.1 million people regularly using or visiting Amazon.com (that’s 75% of the US population aged 18 or older), Amazon is almost always one of the key places a brand’s audience is not only spending their money, but also their attention. To help answer some of these outstanding questions related to this ever-evolving platform, we are releasing The Amazon Imperative: Unboxing the Everything Store today.
Key Points from our report:
54% of consumers state that they start their product research on Amazon, rather than using other search engines.
78.1 million people use Amazon on their mobile phone to compare prices or availability online when shopping in an actual store.
30% of Amazon shoppers click on the first product featured on a search page, making being at the top of the page critical for opportunity and growth.
Regardless of category, a significant portion of a brand’s customers are shopping on Amazon, and their expectations for customer service and shipping rates/times from other retailers are increasing because of that.
While marketers’ fears of Amazon are understandable, with the right approach, smart brands can still use the platform to drive performance and sales without sacrificing brand value.
Whether you see Amazon as friend or foe, every brand needs to pay attention and understand the complex, dynamic ecosystem this online retailer has to offer. Evaluating the opportunity and the risks of engaging with the platform is key to making an informed choice, and it will go a long way in showcasing a brand’s value in the of Amazon.