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Amazon Expert Briefing: What Powers Purchase Decisions From 2,000+ 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 2019 Amazon Consumer Behavior Report aims to provide a window into the behaviors, wants, and needs of today’s consumers and their experiences with and expectations of Amazon as an integral component of their broader shopping mindset. It is a comprehensive resource to help retailers and brands understand and effectively connect with high-value prospects and loyal, repeat consumers on Amazon.
The findings reinforce that Amazon is extending its reach to dominate all stages of the consumer purchase journey. With 66% of consumers stating they begin their product search on Amazon and 89% more likely to purchase products from Amazon over other e-commerce sites, Amazon is encroaching on Google’s position, as well as on retailers’ and brands’ websites.
For retailers and brands, a critical part of demand generation on the platform is product advertising — both within the Amazon marketplace and across Amazon’s programmatic DSP network. This becomes increasingly important as nearly half of consumers (44%) are not generally going past the second page of search results.
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This is complimented by consumers actively seeking and expecting to find the brands they know and love on Amazon. An overwhelming 100% of consumers who buy on Amazon daily at least occasionally go to Amazon in search of products from specific brands. Furthermore, there is a growing consumer concern over counterfeits, and an overall openness to trying Amazon private label brands.
Finally, while the majority of consumers still largely purchase on desktop (65%), mobile commerce continues to increase in share and there is a growing penetration of and experimentation with voice-activated devices and Internet of Things (IoT) for purchasing.
All told, retailers and brands need to take proactive measures to position their Amazon and associated marketplace strategy at the center of their e-commerce plans. To succeed, they need to differentiate themselves on Amazon, leveraging the tools and data available to them.
These include advertising strategically to protect their brand and drive acquisition, incorporating SEO-rich content to gain healthy search rankings, experimenting with new technologies such as VADs, pricing competitively and dynamically, and better understanding the consumer they desire and the competition they face, which is a more expansive set than via traditional channels.
They need to keep pace with the changing rules and opportunities on the Amazon marketplace, understand and clean the gray market and counterfeits tarnishing their brands, and ultimately deliver on a seamless customer experience across the key marketplaces, notably Amazon, Walmart, and eBay, and their broader go-to-market channels.
The e-commerce landscape is complex and ever-changing — technology and deep expertise are critical in helping monitor shifting trends and deliver on the evolving needs and expectations of prized customers and prospects.