- Amazon is now the world’s largest e-commerce platform with over 200 million visitors per month.
- Almost 1/2 of those 200 million visitors are Prime Members who pay for membership. Amazon just raised their Prime cost to $119.95 per year.
- Prime members get 2nd-day air, free shipping on everything they buy plus other benefits such as free movies and music.
- Amazon is moving towards same-day shipping for Prime members in the top 25 metropolitan areas (This will cover over 60% of the American population).
- Prime Members spend over $110 Billion/year on Amazon
- Over 50 million people per day use Amazon to research products and to examine product reviews before buying a product (online or offline).
- One of the biggest complaints by retailers is Amazon buyers who bring their smartphones into stores and use them to shop on Amazon right in front of store owners and employees. If they are a Prime member they know they will get their product quickly, and Amazon usually (but not always) has a lower price. (Besides, if you are buying something large and heavy, such as stand mixer or microwave oven, you don’t have to lug it around while you are shopping.
- Amazon is on a major push to recruit major brands to the site which eliminates small sellers such as you and me from reselling them.
- Although Amazon gets over 50% of their sales from 3rd-party independent sellers, they continue to find ways to compete with independent sellers and drive them away from the site. I suspect this effort will reach critical mass within 4 to 5 years and then Amazon will go the way of eBay. Until then, keep ringing up those sales.
- This means sellers should start looking at other channels to sell on in the longer term.
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