If you’re starting an online eCommerce store, you will draw immense motivation from these statistics. They are proof that you can make it in the world of eCommerce if you play your ball well. In 1994, Jeff Bezos quit his day job and launched Amazon right from his garage. In the first month, he has already sold books to people from over 50 states and 45 countries. It was like a dream until he began hitting $20,000 per week in sales.
Today, Amazon has grown to be the largest online retailer in the world. When we talk about household names, Amazon tops the chart and has become an icon in the world of online shopping. However, this trillion-dollar company continues to amass more services, incorporate more new products and acquisitions that continue to build its customer base.
There seem to be everything saleable on Amazon. As more people hear about this online retailer store, they turn to it for virtually all their needs. If you’re an eCommerce business person or perhaps, an enthusiast, these statistics will not just inspire you; they will blow you away.
1. The popularity of Amazon
This giant eCommerce store is second to none. It continues to grace the top spot as the number one shopping destination in the world. In March 2019, over 145.2 million mobile users used the Amazon app. Compared to the other shopping app in the world, Walmart is like comparing an elephant to a cat. Mobile shopping is rising and gaining momentum, and there is no turning back from its future potential.
The reason for this tremendous growth is no doubt its seamless, stress-free, and smooth experience. This means that users can purchase whatever product they need by punching a few buttons or swiping across their screen.
The Amazon mobile app is straightforward to use, simple, and easy to navigate. Millions of mobile users all over the world keep accessing the app every day, making it the most popular among mobile-only visitors. Although numerous of its competitors have a pretty decent mobile app, they are no match to the milestone Amazon has achieved.
2. Trust-based relationship
If you’re running a business or brand, you might have to learn from Amazon in terms of building customer’s trust. According to a survey of 2000+ US customers, about 89 percent said they are more likely to buy products from Amazon than their competitors. The strength of this trust has made Amazon the heart of eCommerce in the world.
Amazon is consistent in providing the best experience to its customers, which is what you must do if your business or brand must experience success. To gain a customer’s trust is key to a successful online business. However, building a strong trust with your customers isn’t magic. With consistency and transparency in the customer’s buying experience, you will be able to hit the mark. When you take trust seriously and build it, it will help you win more shoppers to your boat.
In this internet age, filled with lots of fakes and illusion, been faithful to your words and services is what makes you stand out. According to Forbes, Amazon continues to deliver products on time, intact, in the same brown boxes – consistently.
By providing your customers with the right content and smooth shopping experience, they are bound to return and shop some more. In most cases, they will end up referring a friend or a family member.
3. Amazon Prime Members
Here could be the backbone of Amazon. Amazon Prime members are always on the run. From June 2018 to date, its Prime membership base grew from 95 million to 103 million US Amazon members. It is a paid subscription, and it’s open even to international shoppers. Apart from ordering products, this program offers more incredible services like a free two-day shipping service, video and music streaming, and numerous other benefits.
For frequent shoppers, being a prime member ensures you get a lot more benefits, which is cost-effective compared to non-members.
The membership for Amazon Prime is $119 per year or perhaps, $12.99 per month. For student shoppers, they get a lot of price breaks or discounts on most products.
Amazon goes to tremendous lengths to ensure the comfort of its prime members. By incorporating this model into your own online business, you will be able to make a noticeable impact.
4. Amazon Product Counts
The number of products on Amazon are enormous. You can find virtually anything on Amazon, which is no doubt the reason it has become the number one shopping destination to millions of users all over the world. If we are to place a count on the number of Amazon products, it is estimated to be 119,928,851 as of April 2019.
After a thorough evaluation of all Amazon products, the total amount of books makes the largest category, amounting to over 44.2 million products, then electronics, and the Home & Kitchen sections. The secret to Amazon’s success is the incorporation of new products. They started with books, and today, they have expanded their product line.
Furthermore, they are continually striving to add more products, anything their users would want to buy online. Not just that, they are always trying to cover more industries into their product line.
5. The most popular category on Amazon
The most popular section on amazon is the electronic category. Followed by clothing, shoes, and jewelry. Nevertheless, the company is always striving to add more niches that cover the overall need of its users. Not only would they be able to satisfy their customers more, but they will also attract new types of customers who can take action.
The enormous products Amazon offer has become its backbone and strength in the eCommerce business. By extending its categories, they also continue to new kinds of users which means more money. One thing you must take note is; they don’t sacrifice these unique benefits and features for quality. They still maintain their standard, which helps build stronger trust. If you must stand out in this industry, you must be ready to offer value at no additional cost.
6. Amazon Prime Day Groundbreaker
This stat might boggle your mind, but it is one of the positive aspects of these statistics that will inspire you. On Amazon Prime Day, customers from all over the world purchased more than 100 million products in 2018. This two special day is only for Amazon Prime members.
The primary purpose of Prime Day was to celebrate Amazon’s 10th anniversary. This event is not only for US users but has also been gradually introduced to other countries every year. Countries like Japan, The UK, Mexico, Canada, Italy, Spain, France. It is worth to note that these special days have aimed at beating Black Fridays of the sales holiday of the month.
The only downside with Prime Day is; you might not always find all the products in your wishlist, but taking advantage of what they have to offer is a great way to spend your shopping day. Judging by prime day buzzes and outcome, there is no doubt that it will soon begin to beat black Friday. It has become one of the days online shoppers eagerly anticipate.
7. Amazon evaluated by device usage
Most web developers, even Google, are gearing toward a world that is mobile friendly. But it might stun you a little that 68 percent of Amazon users prefer to shop using their computers or desktops. In that light, mobile users make up only 25 percent of Amazon users. These statistics give a peek about the future of online shopping. If the majority of online shoppers prefer desktop, what does that say about the future of online shopping?
However, you have to note that age plays a crucial role in the type of devices used to shop. Studies show that older people from 35 years and above prefer to use the desktop. While users below that age range prefer either the mobile or tablet.
It is also worth to note that the device one uses can determine the purchase action. After research, an observation was that people prefer to browse on mobile, then place an order using their desktops. The reason for this behavior can be to minimize making mistakes. When you think about the future of online shopping, have in mind that mobile will always be an essential aspect. Mobile apps are making the shopping experience so much easier and fun.
8. Number of products sold every minute on Amazon
Amazon has over 2.5 million sellers on the platform, selling their products in the marketplace without having to create an eCommerce site. On average, merchants sell about 4000 products per minute on Amazon. Small and medium-sized businesses make this happen by selling through Amazon in the marketplace.
Not only has Amazon make shopping easier, smoother, and fun, but it has also created an estimate of 1.6 million jobs all around the world. They make it easy for potential businesses to sell their products without hassles. It is done to ensure that small and medium-sized companies perform well, events take place worldwide. They are designed to help sellers grow their business to a tremendous height using Amazon stores.
9. Total Number of Amazon sellers
Amazon has more than 2.5 million sellers in their marketplace as of 2019. They are currently active and selling on the platform without hurdles. Every year, almost a million more join Amazon in order to sell their product to prospective customers. When you evaluate total earnings and the number of products sold, it is evident that only the top sellers are responsible for significant transactions that go on in the marketplace. That, however, doesn’t mean you can’t make it big. There are lots of tips you can incorporate to fully optimized your shop to perform better.
In time past, Amazon got several hits for damaging retail jobs. The company, on the other hand, became more vocal about the enormous job opportunities to small and medium-sized businesses.
10. Inspiration is the reason buyers visit Amazon
If you are a potential eCommerce business person, you probably should take note of this unique buyer’s behavior. Understanding your buyer’s unique buying map will help you influence their decision and purchase power. A lot of buyers have nothing in mind; they browse through tons of products and then make an order.
The first destination in the world today for shopping and browsing is now Amazon and Google. Although this might not speak well to most upcoming brands and retailers, they can leverage on this development and make success. One of the ways you can do this is by working alongside these giant companies.
There are many tricks that you can use to influence a buyer’s decision. Perhaps it could be by including unique and customize messages to shoppers. To take the pace even higher, you can delve into content marketing, which has been known to alter and influence the mind of the buyer. Another option could come in the form of product promotions, price breaks, etc.
A promotion or unique offer tied to a buyer’s specific location is usually effective. When they come across such promotions, it is seen as an opportunity of a lifetime as they strive to get hold of it.
Judging by how great and the magnitude of impact Amazon has made, it is clear that this company has come to stay. If you are a businessperson or perhaps an individual, you have a lot to benefit from Amazon. By knowing these statistics, you will be able to draft a strategy on how to properly exploit the opportunities that come with this trillion-dollar company. For eCommerce businesspersons or prospects, it serves as a great motivation. Who knows, it might serve as a high ground to developing a business strategy that will yield an excellent output and possibly beat Amazon in the future.