Brands venturing to scale on Amazon have a huge advantage if they gain a strong understanding of the landscape. This lays the foundations for strategic decisions and sustainable growth.
1. Understand the Market Size📊
Assessing the market and its size can help to determine the potential demand for your products. Amazon’s huge e-commerce sales reached $1.19 trillion in 2024, highlighting its global success. Choose regions with high demand and low competition for your products.
2. Analyse Your Competition🏆
Evaluating your competitors can provide insights into pricing strategies, customer reviews and market positioning. Understanding their strengths and weaknesses can allow your brand to differentiate its offerings effectively.
3. Monitor Category Growth Trends 📈
Watching the trends within your category is essential for identifying emerging opportunities. e.g. Amazon’s skincare category is experiencing a 21% year-on-year revenue growth in 2024. Targeting growth categories increases your brand’s sales opportunity.
4. Determine Average Price Points💰
Strategic pricing can attract consumers, improving conversion rates. Know where your brand is positioned and keep a competitive pricing strategy for your tier.
By focusing on these points, your brand can position itself effectively, meet customer expectations and thrive in Amazon’s marketplace.
Follow along for more tips on how to successfully launch your brand on Amazon.🚀
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