Ever since Jeff Bezos founded Amazon in 1994, it has been one of the largest and most popular e-commerce web stores offering its services worldwide. It has brought a huge transformation in the retail industry and changed the landscape of various marketplaces. With more than 310 million active customer accounts you get a massive customer base to reach out to.
Let’s dig into a few more important stats that highlight how Amazon is the preferred online shopping destination for users.
- About 89% of the consumers agree that they are more likely to buy products from Amazon in comparison to other e-commerce sites.
- There are about 103 million Amazon Prime members in the US alone.
- 90% of the customers check prices on the Amazon site before purchasing a product.
- Amazon shipped about 5 billion products worldwide last year.
Amazon has created a huge disruption in the retail sector. One of the visible results is the migration of customers from brick-and-mortar stores to online platforms. You are aware of how e-commerce has revolutionized the shopping experience of the consumers. It allows them to shop 24x7x365 days from anywhere, offering a plethora of choices at best prices.
Due to these wide spectra of benefits, several retailers from around the world are getting connected to the Amazon platform. Now it’s your turn so, hurry up!
In this blog, we will drive you through the major benefits of connecting your retail store with Amazon.
Increment in the Flow of Cash
One of the key issues faced by brick-and-mortar stores is that the cash flow has become stagnant. People who went to specialized stores were not sure that they would get the product that they were looking for at the desired price.
It started affecting the sales of the brick-and-mortar store and that is what drove the retailers to adopt Amazon.
We can explain this with an example. Suppose, you are the owner of a grocery store offering all kinds of items. You may have amazing sales but with the passage of time, you observe that the scenario is changing. The foot traffic that you were receiving earlier has started to fall.
Now, it is time to make a smart decision and establish your sales on Amazon. It allows you to work directly with your suppliers and you can sell your products online with their approval.
Selling on Amazon Boosts Your Branding
One of the other major bonuses that you receive when choosing the Amazon marketplace is that it helps to boost your brand. You are getting a viable platform that already has more than 310 million shoppers. So, what better place can you avail to build your brand where millions of buyers visit on a day-to-day basis?
Of course, you will have to compete with several other retailers on board but if you offer optimum product quality at an affordable price, the customers will definitely take notice.
Again, if the marketplace visitors start searching for the product on Google from whom they have purchased the item, it will lead to increased traffic and repeated purchasing. Thus, you can convert the marketplace visitors into buyers.
Also, if you are planning to opt for Amazon advertising to reach out to more customers and buyers, you need to choose the right set of marketing tools.
Improved Negotiating Powers with the Suppliers
Once you are able to increase your sales on popular marketplaces like Amazon or eBay, you are in a better position to negotiate terms with a few of your suppliers. This happens because of the enhanced cash flow.
It also allows you to boost your margins on the products that you sell in the store. You can even access the volume discounts on merchandise.
With digital advertising gaining more space, Amazon ads have also become popular, providing you with a good understanding of where your product stands.
As time progresses, the customer base of the Amazon marketplace will certainly expand for sure and people will get many more choices. Thus, it’s the right time to start selling your products on the largest e-commerce website.