Want to boost your Amazon sales this year? Every successful strategy begins with a little research! Luckily, Jungle Scout has done that research for us with its release of the 2024 State of the Amazon Seller report, packed with fascinating statistics for Amazon sellers, brands, and business owners.
Don’t have the time to dive into the graphs, charts, and fine print? No worries — we’ve done it for you! We combed through the Amazon Seller report to find the most interesting findings and simplified them here for you. Now, you’ll be in the know about everything happening in the world of Amazon selling.
Key Amazon Statistics for 2024
The Rise of Omnichannel Marketing
One of the biggest things that stood out to us is how many Amazon Sellers are expanding their reach beyond the platform. While Amazon is by far the biggest e-commerce retailer, roughly 20% of Amazon Sellers also sell on eBay, Shopify, and Walmart.
The following alternative selling platforms saw the biggest annual increase in Amazon business expansion between 2023 and 2024:
- Instagram: 29% YOY
- WordPress: 24% YOY
- Shopify: 11% YOY
In 2024, however, Amazon Sellers have their expansion sights set elsewhere. Over 30% of Sellers plan to expand their markets to Walmart, Shopify, and eBay this year. Meanwhile, 20% plan to expand to TikTok Shop and 18% to Instagram.
Amazon Sellers Are Going Global
Nearly half (46%) of Amazon businesses operating in the U.S. operate in at least one other international marketplace as of January 2024. While the U.S. hosts 79% of these businesses and continues to remain the dominant marketplace, there has been a 6% decrease in U.S. sellers compared to the previous year.
Interestingly, India experienced a remarkable seller growth of 33%, while France saw an 8% increase. Making them the only two international marketplaces with positive growth from 2023 to 2024. Still, only 6% of sellers have expanded to Amazon India, and 12% to France.
How Amazon Sellers Are Using AI in 2024
The spotlight was on artificial intelligence (AI) tools in 2023, even though a lot of these tools are still new. According to the report, 48% of Amazon sellers, brands, and businesses have used AI or have implemented AI-powered tools to help manage their ecommerce operations.
Far more Amazon enterprise brands and retailers (69%) are using AI tools compared to sellers and small to medium businesses (44%). But as technology continues to improve and AI becomes more accessible, we believe there will be a lot more room for Amazon sellers to utilize AI in 2024.
Top 5 Amazon Business Plans for 2024
The ecommerce industry continues to thrive, and Amazon businesses are riding that wave of growth. But the seller report revealed that sellers and small to medium businesses (SMBs) are focusing on new marketing tactics and platform expansion, while enterprise brands and retailers are more focused on product research and business reporting.
Biggest Challenges Amazon Sellers Need to Overcome in 2024
Running an Amazon business isn’t a breeze, and some challenges seem universal for all sellers. Getting customer reviews seems to be the biggest challenge for Amazon businesses in 2024, ranked as the number one challenge for sellers and SMBs and the number three challenge for enterprise brands and retailers.
How to Overcome These Challenges
Looking to conquer the major hurdles faced by Amazon sellers in 2024? The team of experts at Project FBA has got you covered with some invaluable tips.
Getting Customer Reviews
How do you get more customer reviews on Amazon? There are a few different methods to try.
Option 1: Reach out directly to customers and ask for their feedback. This can be done through follow-up emails or messages, as well as including a request for reviews in your product packaging.
Option 2: Utilize Amazon’s Early Reviewer Program, which offers a small incentive to customers who leave reviews on new products.
Option 3: Provide exceptional customer service and deliver high-quality products. Make sure your products are shipping out when promised and you’re keeping active communication if there are any issues. You should strive to do these things anyway, but doing so will often result in satisfied customers who are more likely to leave positive reviews.
Product Research
Conducting meticulous product research is one of the first steps to gaining success on Amazon, so it’s important to try to tackle any challenge you’re having here. Look no further than the company behind the report we’ve been discussing; product hunting is made easy with Jungle Scout.
Jungle Scout offers a suite of tools that empower Amazon FBA sellers to improve their bottom line with actionable insights and data-driven strategies. Specifically, you can use Jungle Scout’s Product Database, Product Tracker, Niche Hunter and Amazon Sales Estimator to find the best product to sell on Amazon.
Read more: How to Use Jungle Scout to Find Products to Sell on Amazon
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Trying New Marketing Tactics and Managing PPC Advertising
Exploring new marketing strategies and effectively managing pay-per-click (PPC) advertising are among the top business challenges for Amazon sellers and SMBs in 2024. Jungle Scout’s Keyword Scout can help you with these challenges, but it can be difficult to leverage this tool without the guidance of dedicated advertising experts.
If you want to see a massive improvement in your Amazon marketing strategy in 2024, we highly recommend partnering with a specialized Amazon PPC agency. The folks over at Search Nurture have a proven track record of driving remarkable results for Amazon businesses, with some brands experiencing an astounding surge in weekly orders by up to 3,500%. (Yes, really.)
No harm in scheduling a free call with Search Nurture to see how they can help you with your Amazon marketing in 2024.
Optimizing Product Listings
Amazon PPC agencies specialize in optimizing product listings. But if you want to take matters into your own hands, Jungle Scout can also help you learn how to optimize product listings with its Keyword Scout tool. This powerful utility enables Amazon sellers to discover high-converting keywords for their product listings and gain valuable insights into their competitors’ keyword strategies. With the ability to analyze keyword strategies among ASIN groups and gather competitive intelligence, sellers can optimize their listings.
Conclusion
Amazon is a constantly evolving platform offering immense opportunities for sellers willing to invest in their growth. As Jungle Scout’s State of the Seller report reveals, the competition for ecommerce dominance is intensifying. Businesses are realizing the importance of adopting omnichannel strategies, leveraging AI, and diversifying their market approach. But success hinges on adaptability and innovation, making for a sophisticated and strategic race.
As we move through 2024 and beyond, one thing is certain: the sellers who stay flexible, data-informed, and customer-focused will carve out the strongest positions in the marketplace. And with Amazon being a microcosm of the wider e-commerce environment, these insights from Amazon businesses are indicative of larger patterns that could reshape the landscape of online retail across the globe.
