The #1 best-selling clothing product on Amazon for most of January and February was a pair of high waist leggings that went viral on the social app TikTok. "tiktok leggings" is still one of the most-searched terms on Amazon.
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If GMV were GDP, that would make the Amazon marketplace the 42nd-largest economy globally, just behind Bangladesh but ahead of South Africa. It isn't only the sales volume that makes marketplaces comparable to economies, however.
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Amazon launched in Poland on Tuesday, March 2nd. The marketplace launched with over seventy thousand sellers from countries worldwide - its biggest launch yet. With the launch in Poland, Amazon now operates in all of the top 10 biggest economies in Europe, except for Switzerland and Russia.
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Advertising has replaced product recommendations and personalization on Amazon and other retailers' websites. They are no longer trying to guide product discovery, letting ads instead lead the journey.
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Two years since launch, Target's invite-only marketplace has less than 300 sellers, despite traffic on the website growing more than 50% last year. For those that are on it, naturally, it is often the fastest-growing channel.
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U.S. e-commerce grew 32% in 2020 to reach $790 billion, up from $598 billion the year before. According to the Department of Commerce, e-commerce represented 14% of total retail spending, a significant increase from 11.3% in 2019.
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Shopify is now the size of 40% of Amazon Marketplace after nearly doubling in 2020. It was just 25% two years ago. The important thing is not whether Amazon and Shopify are comparable - they are not - but the readiness of brands to sell directly to consumers.
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Amazon Echo Dot smart speaker became the first product on Amazon to amass over a million reviews. Popular products on Amazon have exploded in the number of reviews, thus changing their perceived value after the company introduced one-tap ratings in late 2019.
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In 2020, sellers on the Amazon marketplace sold $300 billion worth of goods, adding a staggering $100 billion net growth since 2019. The total gross merchandise volume (GMV), including sales by Amazon itself and by the marketplace, was almost $490 billion, according to Marketplace Pulse estimates based on Amazon disclosures.
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Most brands aspire to be Apple or Nike, but on Amazon, they are closer to AmazonBasics. That is, shoppers buy their products when searching using unbranded search terms. Rather than explicitly looking for the brand, like they do for Apple and Nike.
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