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What Amazon Shopper Panel Means for Brands and Retailers
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Amazon recently launched a new program, Amazon Shopper Panel, which pays participants to share their shopper data from purchases made outside of Amazon’s marketplace as well as for completing surveys.
The program is opt-in and invitation-only, open exclusively to U.S. consumers. Interested consumers can sign up to be on the waitlist through the Amazon Shopper Panel mobile app, available on iOS and Android.
What is Amazon Shopper Panel, and How Does it Work?
Participants of the Amazon Shopper Panel program are asked to send 10 receipts per month from non-Amazon retailers, which include department stores, grocery stores, drugstores, restaurants, and more. The receipts can be uploaded through the mobile app or sent to Amazon via email for which participants can receive a $10 reward that can be used toward Amazon purchases or a charitable donation.
Amazon will also offer participants rewards for answering short surveys on the mobile app. The surveys will ask participants about products and brands that may be of interest to them or their likelihood of purchasing certain products. Other surveys will ask for opinions about advertisements. The rewards will vary depending on the survey. The screenshot provided by Amazon demonstrates a higher cash reward for longer surveys.
Amazon may use the collected data from receipts and surveys to improve product selection on Amazon.com and Whole Food Market, improve content selection on its streaming services, such as Amazon Video, and offer valuable insights to advertisers. The company said it may also offer data to brands and retailers. You can utilize this data with AI-driven optimization tools for your Amazon Advertising campaigns to improve discoverability and increase conversions.
What Does Amazon Shopper Panel Mean for Brands and Retailers?
While it is currently unclear whether Amazon will share the shopper data with brand and retailer partners, those who sell on and off Amazon would greatly benefit from the information collected through the Amazon Shopper Panel program.
The data will help brands and retailers gain visibility into transactions made with competitors, view consumer purchasing patterns, and understand how consumers feel about a variety of products and brands, as well as their sentiment toward ads.
Shopper data would enable brands and retailers to make adjustments to their product assortment and sell more products that are currently in high demand for their target audience on Amazon or in their store. Consumer insights can also be leveraged to provide a more meaningful shopping experience before, during, and after a purchase.
Brands and retailers could also use the data collected to make advertisement campaigns that are more relevant to their customers and as a result, improve their engagement and conversion rate. Understanding how consumers view ads from other brands and retailers, especially those who are competitors, will assist in enhancing their current ads and refining their overall advertising strategy to meet consumer needs.
Amazon Shopper Panel offers findings beyond the transactional data on Amazon or from a brand’s store. The additional insights would help brands and retailers understand their customers further and build a more efficient selling strategy. This is an opportunity for brands and retailers to take a proactive approach in appealing to their target audience and can impact their bottom line.
Amazon Shopper Panel pays participants for sharing their data from purchases made outside of Amazon and for taking surveys. Participants can receive a $10 cash reward per month and gain additional rewards from completing short surveys in the mobile app. Although the program is invitation-only, consumers can sign up to be on the waitlist.
Brands and retailers, both on and off Amazon, could use the data to gain a greater understanding of their customers’ purchase decisions if Amazon chooses to share insights from shoppers. Leveraging the findings will help brands and retailers know which products to include in their assortment, provide a more meaningful shopping experience, and improve their advertising strategy.
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