Study: How do sellers view Amazon Marketplace?
A new study indicates sellers have some reasons to be happy with Amazon Marketplace.
According to the State of the Amazon Marketplace 2019 report from third-party Amazon optimization platform Feedvisor, for nearly half of sellers (49%), all or most (80 to 100%) of their annual e-commerce revenue comes from Amazon. Nearly three-quarters of sellers (70%) saw revenue growth in the last year, with a majority (61%) seeing growth by as much as 40%.
With these financial results, it may not be too surprising that nearly two in five Amazon sellers (37%) do not plan to expand to other marketplaces this year, up by 5% from 2018. Similarly, the percentage of sellers who plan to expand to Walmart (17%) and eBay (10%) declined from last year, by 8% and 9% respectively.
The majority of sellers (62%) have private-label products in their catalogs, and one-quarter (25%) are exclusively selling private-label products. Therefore, launching new private-label brands is a 2019 business goal for nearly one-third of sellers (32%).
The study also shows that sellers are eager to improve the customer-facing aspects of their businesses. Though nearly three-quarters (74%) of sellers are already advertising on Amazon, two-thirds of sellers (68%) are spending $10,000 or less on it each month. Strategic advertising is the number one area of business sellers would like to improve over the next year (51%).
An overwhelming majority (95%) of sellers said ratings and reviews are important to their business on Amazon. Likewise, nearly half (49%) cited this as an area they want to improve on in the next year.
No comments found