2020 has been a crazy year for everyone, but despite the unexpected, Amazon has become the go-to shopping platform almost by force. In 2014, total eCommerce sales were $1.3 trillion. By 2020, that number tripled to $4.2 trillion and is projected to be $6.5 trillion by 2023. According to current statistics, it is believed that in 2021, Amazon’s market share will account for 50 percent of the United States e-commerce retail market’s gross merchandise volume (GMV).
Here are a few things this to look out for on Amazon in 2021.
1. Amazon Live-streaming for Brand and Influencers
In 2019, Amazon launched their Live Streaming platform, similar to QVC television network, the platform allows customers to watch live streams intended to provide them with information that may be helpful in their purchase decision. We expect the platform to be further developed and used together with advanced marketing strategies by brands and sole sellers to increase conversions and provide brand awareness across Amazon.
2. Amazon Pharmacy
Launched on November 17th, Amazon pharmacy allows customers to complete an entire pharmacy transaction on their desktop or mobile device through the Amazon App. Amazon Pharmacy also offers Amazon Prime members discounts of up to 80% on generic drugs and 40% on brand medication. Even though launched recently, Amazon will leverage its customer base to boost its market share in the pharmaceutical market and we can only predict that the market share will show positive increases over the years .
3. New Ad Types and Advanced Targeting
Amazon’s Advertising platform will be focused on a lot going in to 2021 as more consumers are force-flocked to purchase goods online, more sellers will enter the space. We predict Amazon will further develop cost per click and cost per impression advertising modules. With all the revenue made from advertisements this year, we might even see new interactive modules available soon.
4. Enhanced Amazon Brand Store User Experience
Now, we are not saying that this will be happening soon, but we will get a taste of this one in 2021. Amazon Stores will start serving as a Brand Website (also known as a .com) for brands that do not want to invest in other mediums or are solely focused on leveraging the Amazon craze. Amazon will continue to make it easier for brands to drive off-site traffic to Amazon stores and listings for a more seamless shopping experience, starting outside Amazon.
5. Less Amazon on Amazon
This year, Amazon saw many antitrust investigations as sellers and vendors felt their products were either being ripped off by Amazon’s private label brands. If Amazon continues, they chance facing negative publicity and potential antitrust actions again in 2021, which could be more damaging to the company than rather slowing down the production of these Amazon private brand products on Amazon. We’re predicting to see much less new Amazon-branded products on the marketplace in 2021, increasing sellers’ conversion on the marketplace.
We are as excited as you are to see what the year 2021 holds in store for us our brands on Amazon. If you are looking at expanding your e-commerce offering on to the Amazon marketplace, do not hesitate to contact us to discuss your business ventures on email@example.com or fill in a form on our website here and we get in touch with you.