Amazon Advertising Is 3rd Largest Online Ad Platform behind Only Facebook and Google and Number Shows Why Its Increasing Rapidly
Amazon, which is one of the world’s largest e-commerce platforms, has a lot to offer to its sellers as well as customers. It has millions of active users all around the world and many sellers take the help of advertising to make sure they are able to stand out on the platform amongst the competition.
If you as a seller want to generate good amounts of profits and leads it is important to get to know what the latest advertising statistics are and how it would be a good idea for you to start advertising on Amazon.
- Amazon advertising business grew by 19%
In 2023, the latest insider survey suggested that Amazon now holds 7.3% of the overall online ad market, trailing behind Alphabet’s Google and Meta-owned Facebook and Instagram.
- Amazon sells more than 10 Million products on its platform
Did you know that customers have a lot of variety to choose from as multiple sellers exist on the giant platform? Currently, there are more than 12 million products that are to be sold along with many variations, types, and choices of the product to choose from.
- It is estimated that Amazon Sales will reach around $700 + Billion in 2023
According to sources, net sales on Amazon will increase and the platform will continue to dominate the market. Currently Amazon remains one of the most profitable platforms of all times, compared to 14 of its competitors and it known to hold 37.8% of the US ecommerce retail market.
- Amazon is the most visited platform in the US
Did you know that even in 2023 most people trust on Amazon whenever they want to shop from the comfort of their homes? Amazon gets 2 billion visits in the US only on a monthly basis compared to competitor E-bay which only 7 million visits in a month.
- Amazon has a huge market for home improvement goods
While Amazon has numerous categories to offer to its customers, it has a huge share in the home improvement market. According to a recent survey, Amazon sells over 1.1 million home improvement goods alone with an increasing demand for them.
- Amazon’s share of the US market is 45%
Amazon shows an inventory of about 12 million products on its platform and to showcase your product you also need to master Amazon advertisement because the quantity of the inventory only increases and goes up to 350 million. That means that the visibility too high the figure expected to only rise with time and can even go up to 50%.
- Amazon shipped almost 5 billion items
Amazon successfully managed to ship over 5 billion items in 2017 and the amount has only increased with time. Due to the excellent services that provided by Amazon, it known to a powerhouse for people and the figure will only rise as time passes by.
- Average PPC conversion rate is 9.55%
When it comes to websites other than Amazon they only have a conversion rate of 1.3% which speaks volumes about how great and valued Amazon is as a platform. This means that not only more people visit the Amazon website but they also make a purchase once they are on the platform.
- Percentage of online shoppers on Amazon
Did you know that 92% of shoppers in the US claim that they have bought something on Amazon? Not only had that, but 40% of them said that they purchase something from Amazon at least once a month if not more than that.
Brand value of Amazon
Amazon currently a brand value of $350 billion and this recorded in late 2022. This statistic makes Amazon one of the most trusted and valuable brands online. Did you know that Amazon comes in number second after Apple which also has a true brand value of #355.1 billion.
The Bottom Line
As an ecommerce platform, Amazon has an inflow of buyers and sellers and the number keeps on increasing with time as more and more people have a positive experience on the platform. We hope that all the statistics and the numbers that we have provided above will prove to be helpful for you and you will be able to learn from these and improve your experience as a seller on Amazon. If you like the information that we have shared above then don’t forget to drop a comment below on what you leaned from here.