As this year draws to a close, it lays bare some valuable e-commerce trends for 2024. We would be remiss not to write about the significance of these new year trends for Amazon sellers. So, let’s have a look at what’s to come, along with some of the most relevant Amazon seller strategies for 2024.
Waiting with bated breath for the clock to strike 12; not long now. And what better way to welcome the new year than by embracing all the best e-commerce trends of 2024 and reassessing your strategies? Let’s explore some of the most impactful Amazon seller trends in 2024 and how you can use them to your advantage.
Key Trends Shaping the Amazon Marketplace in 2024
Continued Rise of E-Commerce
B2C e-commerce generated nearly $3 billion in global revenue this year, according to Statista, and is likely to rise by nearly 10% per year for the next 5 years. Some of the drivers of this change are inflation, social commerce, and enhanced online shopping experiences.
As more consumers opt for online shopping than ever before, this marks a significant opportunity for Amazon sellers to expand their reach and attract new customers. But it also means more merchants are likely to sign up to sell on Amazon, including more luxury brands.
Growing Demand for Sustainable Products
Consumers are increasingly prioritizing sustainability and environmental consciousness in their purchasing decisions. Sellers can capitalize on this trend by offering eco-friendly and sustainable products on Amazon and then showcasing their sustainability initiatives with Climate Pledge Friendly certification- recently recognized by the European Commission.
Personalized Shopping Experiences
Personalized shopping experiences are becoming increasingly important to consumers, who appreciate recommendations tailored to their preferences. But Amazon sellers can also leverage data analytics and personalization tools, so that products are more relevant, useful, and likable.
One such tool is Customer Review Insights in Seller Central. It reveals AI-detected insights into what customers like or dislike about a product and what effect this has on ratings. With it, sellers can address any flaws and use Generative Fill in Photoshop or other AI tools to showcase the improvements with quickly edited images.
What’s more, Amazon is working on adding an AI chatbot in its search toolbar, eMarketer claims. So, personalized shopping experiences on Amazon, with built-in recommendations, comparisons, and review snapshots, will be the norm in 2024.
Voice Search Optimization
Voice search is gaining popularity. Devices like Amazon Echo and Google Home are often the go-to for people who want to order consumer staples on the go. So, voice search optimization on Amazon is a must. And it all starts with clear, correct, and feature-rich titles and descriptions.
Why is this so important? Amazon’s recent partnership with Hyundai means that buyers will enjoy a hands-free Alexa experience behind the wheel of their next-generation vehicle. Some Alexa features will even be available without an internet connection! So, now’s the time for some serious product listing optimization on Amazon.
Social Commerce Integration
Social media platforms are increasingly being integrated into the e-commerce experience and vice-versa. As Forbes points out, Amazon looks more and more like a social media platform- what with all the video likes, brand followers, influencer content, live streaming, etc.
This year, Amazon seller success is reserved for those who can utilize social media marketing and influencer partnerships to reach a wider audience and drive sales. As shown in our post, “The Impact of External Marketing on Amazon”, there are plenty of ways to do so.
Actionable Strategies for Amazon Sellers in 2024
Embrace Video Marketing
Video marketing is a powerful tool for engaging consumers and showcasing products. But small sellers can’t afford Video Ads. As explained in our post, “Influencer Marketing on Amazon”, some of the best avenues for video marketing for Amazon sellers are the Live gallery, which features shoppable videos, and live streaming.
Optimize Product Listings for Search
Effective product listings are crucial for visibility and search rankings. Amazon sellers should optimize their listings with relevant keywords and compelling product descriptions. You’ll find plenty of tips and tricks in “Ranking Higher on Amazon with A10”.
Manage Inventory Effectively
Efficient inventory management is essential for avoiding stockouts and overstocks. To optimize stock levels and minimize losses, Amazon sellers can use the Inventory Management Tool for FBA listings, sign up for BuyBoxBuddy to keep an eye on stock levels, and set up Emeral Apps notifications in Amazon Seller Central is a portal or a h… More for personalized alerts.
Provide Exceptional Customer Service
Positive customer experiences are paramount for repeat business and brand loyalty. Prompt and helpful customer service interactions should be a top priority for any Amazon seller. There are plenty of ways to boost customer experience on Amazon even if you’re not a people person, including the Amazon Selling Partner 360 program and Customer Service by Amazon.
Stay Informed and Adapt to Changes
Amazon is an ecosystem that’s constantly evolving. New policies, features, and trends keep popping up every day. Amazon seller success is only achievable when you keep up with the latest and adapt your strategies accordingly.
As you can see, a great deal of growth potential lies in knowing the e-commerce trends of 2024. But there’s even more potential in using those trends to tweak your Amazon seller strategies in 2024. We hope that you’ve found some inspiration in our list of new year trends for Amazon sellers and you’re all set to start the new year on a high note.
Melanie takes an active interest in all things Amazon. She keeps an eye on the latest developments and keeps Amazon sellers up to speed.