92% of consumers are more likely to buy products from Amazon according to Feedvisor’s Consumer Report
NEW YORK–(COMMERCIAL THREAD) – Feedvisor, the ‘IA-first’ optimization and intelligence platform for brands and retailers on Amazon, Walmart and online marketplaces, today released the findings of its Amazon Consumer Behavior Report 2021. Now in its fourth year, the report provides a comprehensive and detailed view of the minds and wallets of more than 2,000 U.S. consumers, including the continued impact of COVID-19 on consumer buying habits and the changes in their online media consumption and purchasing behavior.
“The 2021 Consumer Behavior Report demonstrates the continued influence of Amazon and electronic marketplaces on retail purchasing decisions as we enter a post-pandemic landscape for e-commerce,” said Dani Nadel, President and Chief Operating Officer of Feedvisor. “To win in this era, brands and retailers need to examine the factors that drive consumers to buy, paying special attention to personalization, convenience, value and product mix, as well as to implement effective strategies to identify and constantly act on changing customer needs. and expectations.
The survey found that 57% of consumers are buying more online than before the pandemic, and 72% of consumers are now subscribing to Amazon Prime. This points to huge opportunities for brands and retailers to capitalize and succeed on Amazon today if they understand and accurately meet the needs of their buyers, especially during critical selling periods like Black Friday and Friday. Cyber Monday. Notable results of the survey include:
The expanded role of Amazon and electronic marketplaces
- Consumers are shopping online more now than before the pandemic: 64% of Prime members and 36% of non-Prime members responded that they buy more online now than before the pandemic.
- Amazon has a strong place in e-commerce: Amazon is part of the everyday life of American consumers with 56% of respondents saying they visit Amazon every day or at least a few times a week. This figure is up from 47% in 2019, before the pandemic.
- Amazon loyalty is at an all time high: Despite increased competition in electronic marketplaces, 69% of consumers have purchased a product from Amazon in the past two months. Yet Walmart + is growing in popularity with 30% of consumers stating that they subscribe to the retailer’s electronic marketplace.
- Amazon is relevant at all stages of the customer journey: A majority of shoppers (62%) start researching new products on Amazon, and 75% of consumers check prices and product reviews on Amazon before making a purchase.
Black Friday and Cyber Monday remain critical selling days
- Consumers still view the holidays as the best time to score deals: 60% of consumers responded that they buy deals and discounts during Black Friday and Cyber Monday and 47% of consumers said they specifically waited for these dates to make a big purchase.
- Amazon is the top destination for late-fourth quarter purchases: The survey found that more than half (53%) of consumers buy last-minute gifts from Amazon, while 25% go to Walmart and 7% go to Target to make those purchases.
- Buyers allocate a significant portion of their vacation spending to Amazon: 28% of consumers say they spend 21-40% of their vacation budget on Amazon, while 27% of consumers spend 41-60% of their budget on the platform. Another 25% of consumers spend up to 20% of their vacation budget on shopping for gifts on Amazon.
Even for those focusing on the needs of last minute gift providers, brands and retailers should prepare their holiday strategies ASAP to take advantage of the prep and release time around Black Friday and Cyber Monday.
Brands and advertising sentiment: what works for consumers
According to the report, brands and retailers have more opportunities than ever to grab the attention of the buyer, but only if they optimize critical marketing strategies such as messaging, advertising, promotions and pricing. . Additional information from the survey regarding customer behavior includes:
- Ads on Amazon resonate with consumers: 55% of shoppers say they’ve noticed ads on a search results page and 49% of shoppers aged 27-40 say they always or frequently / often buy the first product listed on a search results page of a Amazon search engine.
- Consumers are happy with the relevance of search results and products on Amazon: An overwhelming majority (91%) of shoppers are satisfied or very satisfied with the relevance of search results when looking for products on Amazon.
- The “Frequently Bought Together” recommendations generate the most purchases: On the product detail page, 45% of consumers clicked on recommendations that were frequently purchased together, while 35% explored “items that other customers buy after viewing this item.” Associated sponsored products also intrigue 30% of consumers.
To view the full “Amazon Consumer Behavior Report 2021”, please visit feedvisor.com.
Feedvisor is the “IA-first” optimization and intelligence platform for brands and major sellers on Amazon, Walmart and online marketplaces. Feedvisor’s platform and team of experts deliver best-in-class ad campaign optimization, patented pricing technology, brand and content management, and data-driven intelligence to drive demand and demand. income growth. For more information on Feedvisor, visit feedvisor.com.
This survey was commissioned by Feedvisor and conducted by Zogby Analytics. It was distributed online July 13-16, 2021 to a sample of 2,003 American adults who purchased a product from Amazon in the past 24 months. The results of the full survey have a margin of error of plus or minus 2.2 percentage points. All numbers have been rounded to the nearest percentage.