In 2019, CNBC predicted Amazon would be the most important company of the 2020s, and that was before the Coronavirus pandemic struck the world. Fast forward to today, and millions of people who were not Amazon shoppers before have converted to Amazon Prime members. From 2019 to 2021, the number of prime members increased by 50 million worldwide.
Amazon is a well-positioned company with anticipated growth ahead.
The competitive eCommerce platform surpasses its competitors such as Walmart, eBay, and Alibaba. Amazon continues to diversify its business to grow competitively and stay afloat. Amazon now offers products, entertainment, and even grocery delivery.
A selling point of Amazon that has grown in popularity is its 2-day delivery. Amazon’s fast shipping set the bar for eCommerce selling. Gone are the days of 2-week shipping. Consumers now expect 2-day delivery for everything. In 2020, the Coronavirus pandemic skyrocketed the demand of consumers wanting delivered goods. The demand will only continue to rise as eCommerce grows as a whole.
Amazon was already a powerhouse pre-pandemic for cities and millennials, but the pandemic expanded Amazon’s reach and became a necessary resource. Today data shows that Amazon has expanded its customer reach to nearly every city and customers of all backgrounds.
The eCommerce momentum has not slowed down, and the future is promising. Consumers love the convenience of Amazon, and the ability to easily compare products and prices from multiple brands with a simple click.
The future of Amazon has no limits when it comes to growth. This includes their stock price, which is expected to continue to break boundaries and bring more business.
If you are considering selling on Amazon, now is as good a time, more than ever. Elemerce can help you grow your brand and reach new audiences with our Amazon seller assistance today. Contact us to learn about how we can take your brand to new heights.
References: Increase of worldwide amazon prime members