Undoubtedly, Amazon is the world’s largest online selling platform. It has more than 250 million registered users globally. Being a brand, you cannot ignore this platform if you want to sell your products online. Over the years, the statistics of this humongous eCommerce platform have shown that online shopping will never see a downfall; it is here to stay. The 2020 pandemic has changed the shopping landscape and confirmed that the trend will not disappear anytime soon. In 2021, Amazon accounted for more than 40% of the Indian retail market. And it has increased its Prime membership by 120 million registered members as well. Amazon.com had more than 2.4 billion visits in January 2022. This platform has over 14 lacs employees globally.
These Amazon statistics are magnificent, and every online seller and brand should know these facts to sell on Amazon. If you want to get established in an online business and make profits for yourself, you must know about these statistics and use them for the further growth of your business. Understanding Amazon statistics will allow you to make data-driven decisions for your online business. To promote an extensive understanding of this business, we will discuss some of the most significant Amazon statistics of 2022.
Compelling Amazon Statistics of 2022
These days, customers shopping online are changing every day, and their preferences are ever-changing. Those days are gone when consumers choose to buy online because they want something according to their convenience. Today they are more demanding, and they want more liability that comes with every purchase. Let’s look at some of the compelling Amazon statistics you should know as a brand or a seller. Getting informed about these statistics can become easier to enhance your business.
Customers Visit Amazon to compare the price of Items
According to Amazon statistics 2022, 8 out of 10 customers visit this platform to compare the price of any significant product from other platforms. Amazon is the most preferred eCommerce channel for any customer to check or compare the prices and decide where they should purchase the product from. They check the prices on this platform because it provides the most competitive prices. They also want to make sure that they get the best deals. Amazon bestsellers are a real example of this process. You must compare the prices of products on Amazon as a seller or customer. Nowadays, we are surrounded by various product suggestions and advertisements, and it’s inescapable. It strongly affects customers’ way of shopping for products and online shopping behavior. One essential Amazon statistic is that more than 85% of consumers use this platform for price checking. If you have the best price in the market, customers will attract more towards buying your products. In addition, customers are likely to make up their minds to purchase once they start researching the price of a product. To sell on amazon, you must keep this factor in mind.
Amazon Sells More Than 200 Million Products
This eCommerce platform is a fully customer-centric service provider. It lists the products that customers want to find and discover. That’s why almost every product from all the various sectors and categories is available on this peculiar platform. Amazon wants its customers to find anything they require on their website, so they don’t have to look for it anywhere else. Customers can find books, clothes, beauty products, packaged food items, household products, electronics, and so on Amazon. Being a brand provides you the opportunity to sell almost everything on this channel. However this is a great thing, but it is equally frightening for you, as the competition is always at its peak. It means you have to provide your best to always be on the top. If you establish your business according to the customer’s demand and market trends, you can make money on this eCommerce platform.
22.3 Million Consumers have Prime Membership in India
It is surprising, but by the end of March 2022, Prime membership in India alone has increased to 22.3 million. If we calculate the prime member numbers of the United States, the result will be almost half of Amazon’s users are Prime members. From your business perspective, using FBA (Fulfillment by Amazon) for your fulfillment method is the uttermost priority. FBA sellers are more likely to sell more than Non-FBA sellers resulting in more conversions and sales. As a part of online purchasing, customers don’t want to pay the shipping charges. On the other hand, they also have faith in the shipping charges offered by Amazon rather than by you as a brand or seller. However, using the FBA service provides access to these fantastic perks and increases your conversion rate the most. The enormous community of 22.3 million valuable customers is possible because of the Prime membership. Amazon’s prime provides the ultimate fastest delivery of products to their customers just by paying a little extra amount. It also provides the advantage of grabbing exclusive deals. The benefits of a Prime subscription include one-day shipping on the eligible prime products. Amazon sellers and brands always take advantage of this remarkable feature of this eCommerce marketplace.
50% of the Sales Credit Goes to Third-Party Sellers
In the first quarter of 2022, approximately 50% of the total website sales came through third-party sellers and brands. The trend of third parties entering Amazon has shown a higher growth, and it is ever emerging. In 2020, this humongous eCommerce website generated around 60.5 billion dollars via third-party seller services. It is undoubtedly great news for the website and the sellers as well. To sell on Amazon is always a great idea as this eCommerce shark takes care of half of your burdens, such as shipping, customer support, and delivery. It allows you to focus more on other essential parts of your business.
70% of Sellers Sell on Other Platforms Apart from Amazon
It is one of the most interesting Amazon statistics in 2022. Selling your product on Amazon is a great opportunity. The existence of this platform in the eCommerce industry is imperative, and being a seller and a brand, you can experience the growth of your business on this website. However, there are prudent reasons you shouldn’t limit yourself to Amazon only. One of the most critical reasons is competition, as there are times when you take all the essential steps but fail to get the momentum because of the immense competition. Competing against Amazon itself is the biggest challenge for every seller and brand. Although, it doesn’t mean that brands and sellers are entirely abandoning this eCommerce platform. There is no risk in simply trying the other marketplaces to attract more customers, which is understandable.
Conclusion
Amazon is the real, alive shark of the eCommerce industry, dominating the entire online marketplaces. It has provided numerous opportunities to brands and sellers across the globe. One can quickly shift from a passive business to an active one on this platform. In the end, it is essential to understand that Amazon is very much like the other businesses. So, it will be best if you have a great business strategy, planning, and a real investment of energy and time. You also require an Amazon brand analytics tool to fuel your business to be successful. You can take the help of etraKY to reach the top of this platform.
