There are over 2.5 million active sellers on Amazon’s marketplace. Each year, hundreds of thousands of new sellers join Amazon because of the sheer volume of users and purchases.
According to Episerver, 23% of online shoppers go to Amazon for product inspiration. That’s like digital window shopping, and because of these online, habitual consumer behaviors make the Amazon marketplace unbeatable!
There is pushback that the Amazon marketplace is damaging the retail industry. However, on the other side of the coin, it has empowered small and medium-sized businesses to have a new channel of revenue and allows a wider audience range.
We recommend utilizing P&L statements if you’re listing on Amazon marketplace. With Amazon profit and loss statement, you can get an accurate understanding of your business performance and profitability by tracking expenses against sales.
Aside from listing one’s products on the marketplace, to stand out from the crowd, Amazon Ads might be appealing to sellers.
Also, other brands that might not sell on Amazon can also utilize their huge network to serve advertisements. It was recently announced that Twitch, a popular live streaming site that Amazon owns, will now have programmatic ad space available.
This means audiences who tune in to watch their favorite streamers live will now be shown video ads tailored to their interests. For example, Mukbang has been huge on Twitch. Mukbang is when a person live streams them eating large amounts of food while interacting with their audience. Perhaps the people who tune in are lovers of food; then, they might be shown food and beverage ads!