Feedvisor, the “AI-first” intelligence and optimization platform for brands and retailers on Amazon, Walmart and e-marketplaces, published the findings of its “Amazon Consumer Behavior Report 2022”.
According to the analysis, Amazon continues to be the main market for purchases by US consumers.
The report , which is based on a survey of more than 2,000 consumers, explores the behaviors changes and trends that shape electronic commerce.
“Rising energy prices, soaring food costs and ongoing supply constraints remain top concerns facing consumers, creating a tension between the desire to buy what they want and the need to compromise. due to budget pressures,” said Dani Nadel, president and chief operating officer is from Feedvisor.
Despite inflation and other economic pressures, consumers shop more frequently, but their decisions are more influenced by price and budget realities.
Some key findings from Feedvisor’s “Amazon Consumer Behavior Report 2022” include:
– Nearly 50% of respondents reported an increase in online purchases compared to in-store purchases, with Amazon being their first stop.
– One of the most compelling findings of the report is that inflation greatly influences the motivation of purchase, since 54% of buyers state that this is a key factor in their decisions.
– Consumers are also making decisions based on where the deals and discounts are (45%) and their budget constraints ( 33%).
– 66% of consumers are still open to buying private labels vs. brand names, with about half of them saying it depends of the product.
– Most consumers are more likely to buy Amazon private brands (76%), possibly due to Amazon’s attention to the quality of its private-label products to match the brand-name products they are imitating.
– One-third of respondents reported using the new technology enhancements , including augmented reality, flexible payment options, and in-game purchases, with an additional third of consumers planning to use them in the future.
– Voice search is also making a comeback, as the survey indicates that the 44% of buyers say they use wizards of voice to make a purchase.
– Consumers expect to be able to buy at the moment, since the 52 % of consumers have made a purchase on social networks in the last 6 months.
– Influencers are now an integral part of brand strategies; For example, 37% of consumers have made a purchase after seeing Amazon influencers talk about them or recommend them.
– The memberships and subscriptions are on the rise with Amazon Prime memberships at an all time high, a 25% more from 2019, however, most consumers have more than one membership in addition to Prime as they seek to take advantage of better deals and discounts.
– Popular additional memberships include Walmart+ (30%), Costco (30%) and Target Circle (30%).
“Brands and retailers increasingly need to adapt to win their business, especially as consumers are more willing to switch and try new brands in exchange for greater value“, said Nadel.
P For more details about the report, enter here.
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