27 Jan Amazon Trends & Predictions for Sellers in 2023
Choosing to sell products on Amazon allows businesses to reach a huge audience. Did you know that Amazon customers buy roughly 7,400 products per minute from U.S. sellers? Worldwide Amazon customers number in the hundreds of millions and there are more than 200 million paid Prime members worldwide. It’s well known that Amazon customers following a brand spend more than double that of non-followers.
So with that potential in mind, let’s take a look at some trends and predictions for sellers on Amazon in 2023.
Amazon sellers will spend more on video and streaming ads
The Amazon ecosystem is becoming more video-centric with the introduction of video to Sponsored Display. In this new video format, advertisers can showcase their products and brand through engaging storytelling (e.g. tutorials, demos, unboxing, and testimonials). Advertisers using Sponsored Display audiences will be able to increase awareness and promote their products and brand on and off Amazon using a video ad format. Sponsored Brand Video (SBV) ads are now available to display on the top of search pages.
Amazon will increase visibility of video content
With the undeniable value of video content led by the popularity of TikTok, Instagram Reels and YouTube Shorts, Amazon is poised to put more focus and visibility of video content on its platform. Just last year they rolled out Sponsored Display video ads and they continue to expand the Amazon Live feature too. So be watching for new video features and/or placements in 2023.
Amazon Posts and Stores will grow in popularity
In 2023 be looking for Posts to become more engaging and dynamic. They may also be available to display in more places on Amazon. The Manage Your Customer Engagement (MYCE) feature is slated to see upgrades as well. As we mentioned earlier, brand “follow” is going to gain even more power as it will be possible to communicate directly with customers who are highly engaged and loyal.
Clearly, Amazon is offering businesses new ways to leverage branded content to gain a competitive advantage this year.
Amazon Sellers will increase their advertising budgets with new ad types and targeting options
In 2022 we saw new targeting options for Sponsored Display campaigns which made it even more popular because of the dynamic targeting it offers such as categorical, audience, and re-targeting. As well, this type of targeting allows targeting both on and off of Amazon making it a great option for advertisers who are not utilizing DSP (Demand Side Platform) and want to expand off of the platform.
Now with the newest addition of Sponsored Display Video it is expected that many sellers on Amazon will take advantage of this feature and increase their budgets.
Amazon inclusion of Posts in Inspire will help Sellers highlight their story and voice
Sellers who already use Posts to enhance their customer’s experience will now have the opportunity to be included in Inspire which is a newly launched dedicated shopping experience on the Amazon mobile app. LIke other feeds, a customer’s Inspire feed over time will be personalized to include photos, posts and videos customized to their interests and shopping behaviors. This is a great opportunity to meet your customers where they are most engaged and more likely to buy on impulse.
For Sellers on Amazon the year ahead looks full of opportunities to expand and personalize your content with videos and posts, and test out the new advertising options to see what works for your business.
Managing Amazon and other marketplaces is becoming more important as the world shifts to a digital-first mentality. We’d love to work with you as a proven partner who has built, launched and managed dozens of Amazon programs from the ground up. Contact us now to get started!