Contributor: Andrew Michaud, Chief Marketing Officer at Valet Seller
The Transition to the Digital World
The world is continuously transitioning in to the digital realm each day, if you own a brand and are selling products you can not afford to not be selling online! Leading online marketplaces such as Amazon are dominating the e-commerce industry and the ease of access on these platforms has even put several brick and mortar stores out of business.
The Amazon Empire
Since Amazon was Founded in 1994, Amazon has grown to be one of the largest online marketplaces.
Every single month, over 197 million people log on to Amazon on their devices. This is more than the entire population of Russia! According to BigCommerce, in 2018, Amazon’s share of the US ecommerce market hit 49%. That’s 5% of all retail spent across the entire country.
10 Amazon Statistics You Should Know About
- Amazon is the go-to marketplace for consumers to go to price check a product before their purchase. (Source)
- New Amazon technologies such as Echo are being used to purchase products. 2% of all users of the Echo have used it to purchase products (Source)
- There are more than 12 million products listed on Amazon’s catalog (Source)
- Amazon’s Prime service has over 95 million subscribers. (Source)
- According to analysts, Amazons advertising platform will surpass AWS by 2021. The platform is expected to triple itself in this time period. (Source)
- The average Amazon Prime subscriber spends about $1.4k a year on Amazon.com (Source)
- In 2018, Amazon shipped more than 8 billion packages worldwide. (Source)
- Third-party sellers make up 50% of Amazon’s platform (Source)
- 80% of these third party sellers are also utilizing other channels to distribute their products (Source)
- Utilizing Fulfillment by Amazon gives sellers an increase of 30 to 50 percent in revenue on average. (Source)
The world of e-commerce is extremely fast paced, and the way that consumers are purchasing products is changing. If you own a brand you simply cannot afford to not be selling online.
It is very true that as Amazon continues to grow that it is no longer a way to make a quick buck. But with a well planned, thought out strategy in place, making the transition to Amazon for your business can result in monumental success and an increase in sales.