A report based on a study of 2,000 consumers suggests that when buyers are ready to purchase something online, more than 74 percent go to Amazon.
“By the end of 2019, Amazon is projected to see its share of the total U.S. e-commerce market reach 52.4 percent up from 48 percent in 2018, and is responsible for more than five percent of all combined U.S. offline and online sales, according to eMarketer,” states the report released March 19.
The Feedvisor report found that nearly half of the customers surveyed visit Amazon at least a few times a week, and a significant majority visit it at least once per month — about 89 percent.
“Only 20 percent of respondents visit Amazon once a month or more rarely, revealing Amazon’s ever-increasing role in online retail culture,” the report suggests. Another intereseting notion was that of the 2,000 people who were studied, 89 percent suggested that they were more likely to buy products from Amazon over any other e-commerce sites. Walmart and eBay were found to be the site consumers would purchase from other than Amazon.
The report found also that “more than three-quarters —78 percent — of Prime members visit Amazon at least once a week, reinforcing the notion that, whether they are making a purchase or not, these consumers are regularly engaging with Amazon.
The report’s methodology studied the browsing history and buying habits of more than 2,000 U.S.-based consumers over the past two years. The study asked consumers about their shopping frequency, motivations, preferences across product searching and their perception of ads and more. The study found that about one-third of consumers purchase products online weekly or more than twice per week. Nearly half of all Amazon Prime consumers purchased products at least once per week or more and about 74 percent shopped online every few weeks, the study suggests.
At the end of last year, Prime membership reached an important milestone, gaining more than 100 million subscribers in the United States,” the study suggests. “Only 12 percent of Prime members buy products online several times a year or more rarely, so as Amazon continues to expand its Prime offering and associated benefits on an ongoing basis, it is likely that Prime members will continue to be highly active online consumers.”
The report also found that consumers under the age of 40 — particularly those aged 27-32 — were more likely to buy products online were more likely to buy products online at a more frequent rate than those over 50.
“For example, 85 percent of consumers between age 18-32 buy products online at least a few times a week and more than one-third (37 percent) in that same age bracket make a purchase
online daily or almost every day,” the report states.
The report found that most consumer searches for a product start right at Amazon.
“Consumers are leveraging Amazon throughout various stages of their buying journeys, from searching to checking prices and scanning product reviews through to conversion,” the report states.
“Two-thirds of respondents 66 percent typically start their search for new products on Amazon, and one-fifth 20 percent start on a search engine such as Google.”
Once consumers are ready to buy a specific product, about 74 percent of those who responded to the study said they search for the product on Amazon.