Amazon is a multinational staple in the e-commerce industry. From a humble online bookstore to the world’s pioneer in online retail, the company has undergone a whirlwind of unprecedented changes. It has been renowned for its continuous increasing growth and influx of sales.
As of 2022, Amazon accounts for 39.5% of all U.S. online retail sales, and these latest statistics stand as further proof of its unmatched impact on both sellers and consumers. Whether you are an Amazon seller or intend to become one, here are the key Amazon stats you need to be aware of in 2023.
Overview of an Amazon Seller
Amazon Seller Central is a platform developed by Amazon, and it allows businesses, business owners, or even entrepreneurs to become retailers and sell their products online to millions of potential buyers using Amazon’s marketplace.
Supported by the marketplace’s growing customer base, Amazon sellers can manage their business, list products for sale, fulfill orders, monitor inventory, and gain customer feedback and ratings.
To embark on your retailer journey, you must create an Amazon Seller account first and enter the requested personal data such as your phone number, email address, national I.D., bank account, etc.
Once you are done with the basic routine steps, you will move to choose a selling plan, of which Amazon currently offers two, namely Individual and Professional. Each plan includes different fees, tools, and features, and your choice would depend on your personal goals or projections of your business.
Amazon also offers Seller App, which allows busy business owners on the go to easily run and manage their business from anywhere and anytime on their mobile phones.
FAQ about Amazon product sales
When it comes to learning what it takes to start selling on Amazon Marketplace, many people go to Google for answers. So, we have chosen a few of the most frequently asked questions about Amazon product sales.
How do I find out how many sales a product has on Amazon?
Knowing the sales volume for each product on your Amazon store is helpful, but having an idea about the sales of other sellers sheds light on your store’s performance and how similar products compare to your own products.
Using Amazon Sales Rank, you can learn how your product sells compared to other products in the same category on Amazon. To increase your product rank, you can utilize different tools such as Helium 10, a comprehensive software for Amazon to increase product rankings, revenue, and profit margins.
What percentage of products are sold by Amazon?
According to a 2022 report by Statista, a leading marketing data provider, Amazon accounted for a staggering 37.8% of the e-commerce market in the U.S., making it the leading online retailer. Considering third-party sellers on the marketplace, Amazon sells more than 350 million products.
How many products are sold on Amazon per day?
As of August 2022, Amazon has sold over $1.6 million in products per day. Not to mention Prime Day, Amazon’s long-awaited and most important event in the U.S. and many different countries, during which it has sold over 100,000 products per minute in the span of only two days.
How many products are sold on Amazon each year?
During the COVID-19 lockdown and the difficulty of physical shopping, Amazon managed to sell over 250 million products in 2020. Many of the sellers were small and medium-sized businesses (SMBs) which contributed to the growth and revenue of these businesses.
Amazon Shopping Habits and Product Sales Statistics
In case you are wondering why Amazon is the standard benchmark in the e-commerce industry, check out these exciting statistics:
- Amazon reached about $127.1 billion in total net sales during Q3 of 2022, according to Statista. This figure completely surpassed the same quarter of 2021, which was $113 billion.
- According to Marketplace Pulse, an e-commerce data provider, Amazon reported $53.49 billion in online store sales during Q3 of 2022, marking a distinct 7% increase from last year’s quarter.
- During May 2022, Amazon received 2.4 billion visits to both desktop and mobile platforms, according to a report by Statista.
- Insider Intelligence, a joint marketing research firm, forecasts that Amazon’s retail sales will reach approximately $729.76 billion by Q4 of 2022.
- In research exploring consumer behavior changes by JungleScout, an e-commerce data provider, it was found that 66% of consumers first search for products on Amazon. Such staggering percentages indicate Amazon’s major impact on consumers’ shopping habits.
- Amazon boasts 9.7 million marketplace sellers with 1.9 million active sellers in 2022, according to the business and data research company Renolon.
- Since Amazon promotes versatile product availability, it might not be easy to select one category that customers seem most inclined toward. Yet, according to a report by eMarketer, a joint marketing research firm, computer and electronics have proved to be the favored product category in 2022, accounting for 26% of Amazon’s total e-commerce sales.
Key Takeaways for Retailers
It might seem difficult to manage a business on a titan marketplace like Amazon. However, with the right skills and tools, retailers can earn profits despite the highly competitive environment. As a retailer, you should:
- Consistently check prices: Often, customers will opt for the cheapest product offered on the market. This is why tools such as RepricerExpress are essential to set a pricing strategy and changing prices accordingly.
- Build trust with potential customers: provide your audience with the best customer service to earn your customers’ trust and increase return purchases.
- Highlight your product: selling a product on Amazon exceeds providing a descriptive product picture. Retailers need to select the right keywords and descriptions for their products to rank first. This can be achieved with tools such as Keyword Tool to optimize product research.
Conclusion
Amazon has been a unique driving force in the e-commerce industry and has reached unmatched figures and numbers among its competitors, encouraging many individuals from numerous backgrounds and business circles to join this increasingly lucrative community.
