Now, more than ever, is the time to start training to sell products on Amazon. The reason is that Amazon is gaining ground across Europe, a feat that translates into a larger customer base for independent marketers on Amazon.
Amazon started working on penetrating the international market after dominating the USA’s e-commerce space. The penetration process began with the UK and Germany in 1998, followed by France in 2000.
Ten years after, 2010 to be precise, Amazon launched into Italy market space and penetrated Spain in 2011. Amazon now has more than 31 fulfillment centers across major cities in Europe.
We currently live in a generation where out of the $30 trillion generated from the retail market worldwide, e-commerce takes no less than $3.8 trillion annually. According to a report published by Euromonitor, Amazon accounted for up to 44% of that annual e-commerce sales.
What does this dominating growth mean to individual marketers and other e-commerce platforms? Could this progress box out other e-commerce stores?
For independent marketers, the dominating growth is good news as it opens up a new market space and opportunities to make more money. It means competition for other e-commerce stores, but the competition doesn’t have to make them fold-up if they know how Amazon did it and learn from the master.
Reasons Why Amazon Dominates in Europe
The success we know of Amazon today came mainly from its innovative practices and technology, a process mostly championed by Jeff Bezos himself, the CEO of Amazon.
For example, Amazon’s impressive voice command device called Echo is a remarkable and welcome innovation. The device plays songs, checks the weather, and even helps research your favorite sports by simple voice command.
The Echo innovation gulped huge investments from Amazon’s investment capital. However, it quickly became a success as over 22 million of the device sold out in its first year of release. While not all of Amazon’s progressive creations become successful, successes like Echo prove that innovation can yield an excellent result for e-commerce companies.
2. Customer Service
Amazon aims to be the most customer-centered company globally. Therefore, it has developed and continues to create helpful tools that bring simplicity and convenience to the online user’s shopping experience. These tools ensure it is easy for users to track packages, quickly return or exchange ordered items.
As proof of Amazon’s commitment to world-class customer service, its customer service team has won several awards for swiftly addressing and preventing problems for customers. No doubt, the brand’s dedication has paid dividends, which translate into market domination.
Social media is also a powerful tool that Amazon employs to enhance its customer service quality and engage with shoppers. Social media can help your e-commerce business build a solid foundation of passionate and loyal followers who will advocate for your brand when used right.
Are you aware Amazon started as an online bookstore? Today, Amazon sells almost every legal product from nuts to soup. Search the word soup on the site, and you’ll find over 3,000 listings of different types of soup. What if you search the word “nut”? You’ll see over 37,000 results.
Amazon offers products in books, music, electronics, automotive, health and beauty, grocery, clothing, etc. Amazon continuously drives relevance and reach by diversifying its offerings. Regardless of your industry, you can do the same.
By expanding into new markets and product categories, you attract new business growth opportunities to your organization.
4. Outstanding User Experience
The secret to increasing sales is to help customers easily find what they are looking for and get them to move further down the sales funnel. However, it’s a strong UX that makes this process possible.
That’s why Amazon engages a full UX team of professionals in every area, from web development design to user research. The UX professionals collaborate with executives, product managers, and engineers to create a smooth user experience that drives customer conversions.
You should invest in your e-commerce business to improve your online UX to boost your online conversion impact through a user experience that engages and inspires. Fortunately, it’s not a complicated process. Any business can do it, including yours.
5. The “In It To Win It” Mindset
It took so long for Amazon to make its first profit, but they didn’t quit. That was a function of the “in it to win it” mentality, which was its foundation. Bezos warned investors from the onset that it’ll take a long time before they would see a return on investment, and so it was.
No matter how you want to look at it today, Amazon has grown massively from a little online book store into the e-com giant that dominates the USA, Europe, and the world.
What mindset governs your business setup?