If you’re considering getting into ecommerce, you might wonder if it’s worth selling on Amazon in 2023, especially with how uncertain things have become recently. And, if you’re an Amazon seller, you might be wondering if it’s worth staying on the platform or branching out. These aren’t easy decisions to make if it’s your first time running an online business. Your time, money, and energy is on the line. And with an endless amount of opinions, it’s hard to get good advice. That’s why we’re here to help! We’ll give you the hard facts and statistics from the many sources we’ve researched, as well as a little analysis on how that impacts you as a seller so that you can make the best decision possible.
*Although most of these stats are from the last couple of years, they’re good indicators Amazon will continue to be a strong platform for sellers to market their products in 2023 and beyond.*
Despite economic troubles during the pandemic, Amazon had a whopping 2-3 billion visits each month in 2020. That’s a ton of potential customers going through Amazon in one month! As a seller, this number is very encouraging as this amount of traffic can translate to considerable views on your product listing. With this amount of traffic, you should at least list your product on Amazon for more exposure.
Not only does Amazon get many views in general, but it also has quite a large number of mobile users. 150.6 million mobile users accessed Amazon in September 2019 alone. With Walmart ranking second at only 86.05 million users, this comparison shows that Amazon is a hit among mobile users. You will gain more exposure with just mobile users across Amazon, then some full fledged ecommerce platforms.
Angora developed a carefully crafted and researched brand for Cuddle Buddies. Developing a brand is all about creating a sense of community and trust in the product. Each product in their store is carefully designed with its brand identity in mind to provide customers with an experience unique to Cuddle Buddies.
A recent survey shows some of the top reasons individuals shop on Amazon as follows:
Two out of the three of these reasons point towards Amazon FBA. Sellers can sell products through FBA to Amazon Prime users with free, 2-day shipping. With this combination being so important to consumers, it is in your best interest to make sure that your product is available to all those Amazon Prime subscribers for fast, free shipping.
Half of all Amazon sellers receive 81% to 100% of their sales from Amazon. Many sell exclusively on Amazon as opposed to trading on other platforms. This percentage demonstrates that Amazon is doing something right by attracting and keeping third-party sellers. These numbers are just another reason to pursue selling on Amazon.
You might be surprised, but 74% of consumers go to Amazon when they’re ready to buy a specific product. And despite their online researching efforts, a hefty 75% come back to Amazon to purchase the product they need. If you were considering selling exclusively on any other platform other than Amazon, you should reconsider.
Of all of the reviews made on Amazon, only 4% were negative in 2020. Reviews on your products are crucial as a seller, especially having multiple positive reviews. Positive reviews will draw in buyers. The fact that only 4% of all reviews are negative means that you don’t have to worry too much about being flooded with negative reviews, which in turn can drastically hurt your business.
When it comes to selling private label products, Amazon is one of the best places for people to find your brand. Over 59% of Amazon sellers use the private label business model, in which they create their own product or brand and sell at a much more competitive price. There is a growing demand for private label products as consumers switch from big brand retailers to small business owners who can provide better customer service and quality products.
As of 2019, 225,000 Amazon sellers are selling over $100,000 a year on Amazon alone. This statistic shows that breaking through the 6-digits in revenue on Amazon is not an impossibility for you. You have a great shot at making high returns that could benefit you financially.
As of 2021, Amazon has already received over $127 billion in net ecommerce sales in a matter of months. This large number is including products sold while excluding any profits from subscriptions and fees from third-party sellers. Compared to other ecommerce platforms, Amazon’s net sales volume is significantly larger. Like other statistics show, you want to increase the odds of your sales by sticking with the company that has the higher revenues.
We’ve given you some helpful statistics that will direct you on deciding whether you want to start selling on Amazon or even if you’re going to stick with selling on Amazon. Overall, we believe selling on Amazon is the way to go. Here’s a summary of the facts and statistics taken as a whole:
Merely posting your product on the website doesn’t automatically guarantee you success, however. You will need to make sure that you fully optimize your listing and your products to get the buyers.
That is why hiring Angora for all of your Amazon solutions is the way to go. We recognize the success that Amazon brings, and our experts are here to create a company for you that will reap those benefits. Contact us today so that we can help guide you through the Amazon selling process.
