Amazon may be the pioneer in integrating other operators into its business, but the sellers who use it are broadening their horizons, jumping on, or planning to jump on, other marketplace opportunities.
According to the Jungle Scout State of the Amazon Seller report for 2024, the number of businesses adopting an omnichannel commerce strategy has been ticking upward over the years, with many turning to Amazon and other marketplaces to establish or expand their online presence.
In 2023, the top e-commerce platforms where Amazon-based businesses also operated were:
- eBay, at 23%
- Shopify, at 21%,
- Walmart, at 19%
- Etsy, at 13%
- Facebook Marketplace, 10%
The top e-commerce platforms where Amazon-based business plan to expand in 2024 are:
- Walmart, at 36%
- Shopify, at 35%
- Ebay, at 33%
- Etsy, at 22%
- TikTok Shop, at 20%
Although both large and small businesses operate on the Amazon platform, Jungle Scout pointed out, they have somewhat different priorities in the year ahead. Amazon sellers and small and medium business operators are first and foremost emphasizing trying new marketing tactics and expanding to other e-commerce platforms or online channels. Then, they also want to increase market share, expand to new global markets, import products, collect competitive intelligence, work with social media influencers, report on the health of the business, run online product promotions and manage finances better.
For established enterprise brands and retailers on Amazon, the priorities start with product research and reporting on the health of the business. Following are protecting the business from hijackers, counterfeiters and other black hat tactics practitioners, finding suppliers, getting customer reviews, collecting competitive intelligence, expanding to other e-commerce platforms or channels, expanding to brick and mortar stores, importing products and managing international trade, and increasing market share.
