TMCnet News
42% More Brands Are Selling on Amazon Now Than Before COVID-19, According to Feedvisor Brand SurveyFeedvisor, the AI-powered optimization and intelligence platform for brands and large sellers on Amazon, today announced the results of its third annual brand survey, which analyzed over 1,000 U.S. brands and their unique relationships with Amazon and e-marketplaces. The 2021 report, "Brands, Amazon, and the Rise of E-Marketplaces," documents brands' advertising and media strategies, plans for expansion, the pandemic's impact on their businesses, as well as specific areas of challenges and opportunities.
"The growth o e-commerce during COVID-19 has substantially benefited e-marketplaces, especially Amazon," said Dani Nadel, president and COO, Feedvisor. "The sentiments outlined in this report make it clear that brands can no longer afford to ignore Amazon's significance, nor can they rely solely on their owned channels for the reach needed in today's e-commerce landscape. As Amazon continues to pave the way for stronger customer-brand relationships and overall brand growth - driven by digital media offerings, enhanced advertising and content features, and reporting capabilities - we can expect to see more brands increase their investments as they see greater, tangible value from the platform." While Amazon continues to permeate brands' strategies and grow in significance, other e-marketplaces are entering the mix. In the report, brands both on and off Amazon share similar sentiments around the challenges of operating on the platform, including increased competition and the inability to control the customer experience. As such, over half (57%) of brands on Amazon leverage additional e-marketplaces aside from Amazon to build brand awareness, up from 50% last year, followed by driving sales (52%) and product liquidation (43%). As brands invest in diversification across e-commerce and advertising tactics, survey insights include:
"In a complex, dynamic marketplace ecosystem, it is essential for brands to leverage deep marketplace expertise and sophisticated technology to help them drive sales and traffic to their product listings, provide personalized and engaging shopper experiences, and optimize their ad campaigns to reach the right audiences," said Victor Rosenman, founder and CEO, Feedvisor. "The brands that embrace the digital revolution of retail, invest in data and technology solutions, and optimize their presence on Amazon and e-marketplaces will be well-positioned for long-term growth in the inevitable new normal." To see the full "Brands, Amazon, and the Rise of E-Marketplaces" report, please visit feedvisor.com.
About Feedvisor
Methodology
Brands surveyed range from enterprise-level to Fortune 500 companies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210225005238/en/ |