Amazon has become the leading site for online shopping with an ever-increasing success rate. It is an inspiration for every individual who yearns to initiate a similar entrepreneurial venture. Following are 10 Amazon statistics you need to know in 2021.
- The Overreaching Demand of Amazon
It is indubitably correct that Amazon holds a matchless position in the world of e-commerce, with 150.6 million mobile users solely in the United States browsing the Amazon app in September 2019. The chief reason behind the success of Amazon is that it helps its customers in every possible manner. Surprisingly, Amazon is far ahead of its market competitors. For instance, Walmart, which comes after Amazon in ranking, has merely 76.45 million users, far less than Amazon has.
- Established Customer’s Trust
A survey that held across the United States asserts that 89 percent of people favored buying from Amazon over any other e-commerce site. The inclination of people towards Amazon is significant because of the established trust that Amazon has been succeeded in inculcating among its customers through excellent service. Trust is the essential attribute of any successful company, and Amazon’s story is no different. The building of customer relationships on the foundation of trust continues to enhance the business expanse of Amazon.
Strength of Amazon Prime Members
Amazon Prime is a service that includes faster shipping, music, videos, etc. Currently, the strength of subscribers to this service is 150 million, which 50 percent is more than it has been in 2018. The members prefer to be on Amazon more often than other platforms and enjoy the facilities such as free delivery etc. Thus, the membership attracts customers because of its numerous services.
- Considerable Capital Generated
Being the leading e-commerce site, the capital that Amazon generates mirrors prodigious growth. According to the latest release, Amazon made 125.6 billion dollars in the last four months of 2020, which is 44 percent more than the annual increase.
- More Products in Demand
The most popular product that ranks first on Amazon is related to electronics. Almost 44 percent of customers buy things related to electronics; clothing, shoes, and jewelry come after that with a ratio of 43 percent.
- Usage of Different Devices
It is interesting to note that 67 percent of Amazon users prefer to shop through their computer or desktop even today when mobile usage has reached its peak. It is said that people like to browse for desired products using mobile, but they prefer to order through the desktop. The trend also depends on age where older people prefer to use desktop and vice versa.
- Rate of Selling on Amazon
It is essential to look at the rate at which business on Amazon is carried out to mark the financial success of Amazon. It is found that more than 4000 items are sold per minute through various small and medium businesses associated with Amazon. It is really amazing!
- Strength of Sellers
The broad space for sellers is another aspect that can be looked up to estimate the enormous business scale of Amazon. Amazon has 1.9 million active sellers in the field, whereas the number surpasses 9 million overall.
- Other Key Factors
Certain factors play their role in pushing the customers towards buying certain products. According to a survey, 82 percent of users consider price to be the leading factor that plays a decisive role in pushing or repelling a customer from buying a particular product. Other factors include low shipping costs and product reviews.
- Amazon as an Inspiration
As Amazon has found the path to success, it is found that 23 percent of online shoppers browse Amazon when they are confused in the case of products.