NEW YORK--(BUSINESS WIRE)--Feedvisor, the “AI-first” optimization and intelligence platform for brands and retailers on Amazon, Walmart, and e-marketplaces, today released the findings of its 2021 Amazon Consumer Behavior Report. Now in its fourth year, the report provides a comprehensive and detailed view of the minds and wallets of over 2,000 U.S. consumers, including the ongoing impact of COVID-19 on consumers’ buying habits and the evolution of their online media consumption and shopping behaviors.
“The 2021 Consumer Behavior Report demonstrates the continued influence of Amazon and e-marketplaces on retail purchasing decisions as we enter a post-pandemic landscape for e-commerce,” said Dani Nadel, President, and COO, Feedvisor. “To win in this era, brands and retailers need to examine the factors that drive consumers to purchase, paying close attention to personalization, convenience, value, and product assortment, as well as implement effective strategies to continually identify and act on evolving customer needs and expectations.”
The survey found that 57% of consumers are shopping more online than they did before the pandemic, and 72% of consumers now subscribe to Amazon Prime. This indicates tremendous opportunities for brands and retailers to capitalize and succeed on Amazon today if they understand and accurately address their buyer’s needs, especially during critical sales periods like Black Friday and Cyber Monday. Notable findings from the survey include:
The Expanded Role of Amazon and E-Marketplaces
- Consumers are shopping online more now than before the pandemic: 64% of Prime members and 36% of non-Prime members responded that they shop online more now than before the pandemic.
- Amazon has a stronghold on e-commerce: Amazon is a daily part of the lives of U.S. consumers with 56% of respondents saying they visit Amazon every day or at least a few times a week. This is up from 47% in 2019, prior to the pandemic.
- Amazon loyalty is at an all-time high: Despite increased e-marketplace competition, 69% of consumers have purchased a product on Amazon in the last two months. Yet, Walmart+ is gaining in popularity with 30% of consumers reporting they subscribe to the retailer’s e-marketplace.
- Amazon is relevant across all stages of the customer journey: A majority of shoppers (62%) start the search for new products on Amazon and 75% of consumers check prices and product reviews on Amazon prior to making a purchase.
Black Friday and Cyber Monday Remain Critical Sales Days
- Consumers still view the holidays as the best time to score deals: 60% of consumers responded they shop for deals and discounts during Black Friday and Cyber Monday and 47% of consumers said they wait specifically for these dates to make a big purchase.
- Amazon is the leading destination for late Q4 shopping: The survey revealed more than half (53%) of consumers purchase last-minute holiday gifts from Amazon, while 25% go to Walmart and 7% go to Target to make these purchases.
- Shoppers allocate significant portions of their holiday spending to Amazon: 28% of consumers said they spend 21%-40% of their holiday budgets on Amazon, while 27% of consumers spend 41%-60% of their budgets on the platform. Another 25% of consumers set aside up to 20% of their holiday budget for purchasing gifts on Amazon.
Even for those focused on serving the needs of last-minute gift-givers, brands and retailers need to prepare their holiday strategies as soon as possible to leverage the lead-up and lead-out period around Black Friday and Cyber Monday.
Brands and Advertising Sentiment: What’s Working for Consumers
According to the report, brands and retailers have more opportunities than ever to grab the buyer’s attention, but only if they optimize critical marketing strategies like messaging, advertising, promotions and pricing. Additional survey insights regarding customer behavior include:
- Ads on Amazon are resonating with consumers: 55% of shoppers said they notice ads on a search results page and 49% of shoppers aged 27-40 say they always or frequently/often buy the first product listed on an Amazon search engine results page.
- Consumers are satisfied with the relevance of search results and products on Amazon: An overwhelming majority (91%) of shoppers are satisfied or highly satisfied with the relevancy of search results when searching for products on Amazon.
- “Frequently Bought Together” recommendations drive the most purchases: From the product detail page, 45% of consumers have clicked on the frequently bought together recommendations while 35% have explored the “items other customers buy after viewing that item.” Related sponsored products also intrigue 30% of consumers.
To see the full “2021 Amazon Consumer Behavior Report”, please visit feedvisor.com.
About Feedvisor
Feedvisor is the “AI-first” optimization and intelligence platform for brands and large sellers on Amazon, Walmart, and e-marketplaces. Feedvisor’s platform and team of experts offer best-in-class advertising campaign optimization, patented pricing technology, brand and content management, and data-backed intelligence to drive demand profit, and revenue growth. For more information about Feedvisor, visit feedvisor.com.
Methodology
This survey was commissioned by Feedvisor and conducted by Zogby Analytics. It was distributed online from July 13–16, 2021, among a sample of 2,003 U.S. adults who have purchased a product on Amazon within the last 24 months. Results from the full survey have a margin of error of plus or minus 2.2 percentage points. All numbers have been rounded to the nearest percent.
