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Amazon Expert Briefing: Inside the Minds of U.S. Consumers
The Amazon Expert Briefing series focuses on Feedvisor’s hands-on expertise across price, advertising, and brand optimization and intelligence, with Amazon at the center. This post is led by Feedvisor’s President and Chief Operating Officer, Dani Nadel.
The retail industry has undergone a significant transformation over the past decade, largely due to the disruptive force commonly referred to as the “Amazon Effect.” By the end of 2019, Amazon is projected to see its share of the total U.S. e-commerce market reach 52.4%, up from 48% in 2018, and is responsible for more than five percent of all combined U.S. offline and online sales, according to eMarketer.
Staying at the forefront of constant shifts in demographics, attitudes, and consumer preferences, as well of ongoing advancements in technology, Amazon understands the emerging expectations and needs of its customers. It is this maniacal focus on consumer experience that continues to propel Amazon forward and shape the dynamic nature of not only the platform itself, but the greater e-commerce ecosystem.
By continuing its commitment to a seamless and easy-to-navigate interface, increasing access to quality brands, leveraging AI to monitor trends and enable personalized suggestions (in the form of relevant organic and paid advertising), driving price value, and offering programs that set industry standards — such as Prime membership did for rapid delivery — Amazon is constantly evolving to anticipate and fulfill the needs of its customers.
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As a result, the challenge increases for retailers and brands who operate across the Amazon platform. Its continual expansion, dynamic nature, and growing complexity requires retailers and brands to constantly evaluate and implement new ways to differentiate themselves amidst an increasingly saturated market and ultimately deliver on the expectations of today’s connected consumers.
The 2019 Amazon Consumer Behavior Report provides a detailed view into the browsing and buying habits of more than 2,000 U.S. consumers who have shopped on Amazon in the last two years. Consumers were asked about their shopping frequency and motivations, preferences across product search and purchasing, perceptions of ads and private label brands on Amazon, Prime membership status, plans for online shopping events such as Prime Day and Cyber Monday, and more.
Through these compelling new insights, retailers and brands can gain a pulse on consumer behaviors, wants, and needs, and garner actionable strategies to effectively utilize Amazon to inform and generate high-value opportunities for the future.