A bit of a different mini blog to round off 2023, as we take the opportunity to finish the year with a look at what’s coming next to Amazon – plus of course how brands can look to capitalise on these key trends…
Digital Business is Booming
More people have shopped online this year than ever before, with global ecomm revenues projected to hit £2,465 billion by the end of 2023.
And these stats, which have been on a steady upwards surge for years now, show no sign of slowing – Statista’s same projections estimate online shopping market volume to reach £3,528 billion by 2028 with a user penetration of 34.1%.
In the UK alone, predicted revenues are £157 billion.
And guess who’s the biggest player here?
No surprise – Amazon have roundly beaten the likes of Tesco and Argos with sales of more than £12.1 billion last year.
More customers online means more customers on Amazon – and they’re getting there through a whole new raft of means, from the marketplace’s new social commerce partnerships with Meta and Pinterest to enhanced cross-channel Amazon Ads capabilities.
Even cars are coming to Amazon this year!
So we see 2024 as a year that will offer unprecedented opportunities for brands of all kinds to reinvent themselves on Amazon – making the most of the marketplace’s huge scope to grow their reach and attract new customers from a wide range of sources.
Lots more Luxury…
Our top tip?
We’re so excited to see how Amazon Luxury Stores grows this year.
With Oscar de la Renta, Gucci and Chanel setting up shop on Amazon in 2023, other sought-after names in fashion and beauty can’t let the vast opportunity of the marketplace slip by forever…
Need a new Amazon strategy to take you into 2024? The team are on hand…
AI is coming into its own
From helping generate keyword-driven copy and enhancing product imagery to smart Amazon Ads automation (like our exclusive Venture Forge smart ad-tech that lets us manage ad spend at scale), the ways that AI can boost our Amazon businesses grows on the daily…
And so it has to be one of the biggest trends for the year to come.
Where do we see it lending the strongest helping hand?
Well, in every area that efficiency could be improved, basically.
As well as smart Ads automation and content optimisation, we think Amazon Sellers will use AI more and more through 2024 to:
- Act as a first point of contact for customer service queries, with AI chatbots helping to enhance the customer experience
- Personalise the customer experience, understanding expectations and anticipating needs
- Analyse data, getting to the crux of product sales, competitor research and market trends quickly and effectively
- Manage and forecast inventory
As anyone who’s used AI will know, it has its limitations and it certainly doesn’t remove the need for human input – but as long as brands are aware of and countering those issues, adopting AI into the Amazon business model is a must in 2024.
Want our expert advice on where AI can improve your Seller efficiency? Speak to the team today
Shoppers just love Social Commerce
The news of the Amazon X Meta partnership came hot on the heels of the marketplace’s Pinterest deal, and no wonder.
Revenues in social commerce are surging.
Tapping into users’ desire for a seamless, convenient and trustworthy shopping experience that lets them stay within their favourite social platform – and brands’ desire for that experience to result in fast and easy sales – this is a win-win all round.
The Pinterest deal was already showing amazing returns by Q3 and the Meta partnership is sure to be even more lucrative given Meta’s continued dominance in the social commerce space.
Will TikTok follow?
We don’t know.
The platform is definitely carving its own path alongside Meta but it also has its own shop, so does offering Amazon checkout capability fit with TikTok’s goals? We’re not sure.
But, whether it does or not, the reach offered by Meta and Pinterest combined means that social commerce is definitely one of the key places you should be shoring up your Amazon strategy in 2024.
Our award-winning guidance will help you weave social commerce more deeply within your multi-channel strategy for supercharged sales in 2024.
It’s all in the Voice…
Voice search isn’t exactly a new trend, but it is one that’s taken a little time to gain momentum. However, that smart home foothold is now firmly in place, with more than a third of UK households now having access to a smart speaker with virtual assistant.
Plus, it’s not just at home that voice is gaining strength.
Users regularly use voice search on their mobiles…
… And, as part of their upcoming partnership, Hyundai won’t just be the first car manufacturer to sell vehicles on the marketplace – they’ll also be the first to equip their cars with a hands-free Alexa experience for drivers to shop on the go!
Given all of this, we’re seeing far too many Sellers missing out on opportunities because their listings aren’t properly optimised for spoken searches.
Here are our expert team’s 6 Simple steps to optimise your listings for voice search:
- Keep product descriptions clear, concise and focused, front-ending the most relevant information
- Avoid keyword stuffing and uncommon language
- Think carefully about searcher intent when choosing your keywords, and incorporate long-tail keywords which work with the more conversational nature of voice searches
- Ensure your listings and Storefront are easy to navigate
- Descriptions and titles that focus on customer benefits tend to work better in voice search
- Don’t forget to include your brand name
And we’re on hand to offer our SEO expertise and fully optimise your listings for Voice. Get in touch today…
Shoppers also love Sustainability
Last but not least in our 2024 trends, it’s clear that Amazon shoppers are putting more and more value on sustainable and eco options, from products to packaging.
And that value translates in real terms – this recent survey from NielsenIQ and McKinsey shows that buyers are willing to pay more for sustainable and socially responsible products too.
One of the simplest ways to demonstrate your brand’s eco credentials is by displaying the Climate Pledge Friendly badge.
Eligible products are badged in the results as well as on your product page, helping your listing gain the click above the competition.
There are two ways your listings can gain the Climate Pledge Friendly Certification:
- Compact by Design – Created by Amazon, Compact by Design is awarded to products with a more efficient design – for example, where the removal of excess air and water makes a product more efficient to store and ship.
- External Sustainability Certifications – Amazon also partners with a wide number of external certification bodies, from governmental agencies to non-profit organisations. Find the full list of partners here
Want to apply for the Climate Pledge Friendly Badge? Find Amazon’s full guide here…
Want to maximise any of these opportunities for your marketplace business?