For building a powerful business on Amazon, you, as a seller, have to put maximum efforts by scrutinizing all the vital aspects concerning your business. Everything, from the gender to marriage status of your customers, is an important aspect that you should know about your potential customers. Another vital information that you should learn about your buyers is, which generation they belong to. We have already talked about several crucial aspects related to this theme in our previous blog. Today, we have prepared more useful information on this topic, so let’s get going!
Why Do People Shop on Amazon?
For the members of Gen X generation, one of the main driven reason for shopping on Amazon is positive reviews left by the buyers. The second reason is low price on specific products.
All Bets Are In
Another crucial aspect that you should figure out when you are selling on Amazon is representatives of the generation which spend the most on Amazon. Even if the Baby Boomers don’t shop on Amazon very often, they are considered to be the ones, who are open to spend the most money. So, nearly 30% of Baby Boomers spend nearly $ 250-$500, when they are buying a single product on Amazon. The representatives of Millennials and Gen Z, in their turn, spend nearly $250 on a specific item. Interesting fact, that those who have the most money, spend less on Amazon. The members of Gen X are willing to spend solely $50- $100 for the item.
Of course, the global pandemic has had a huge impact on generations’ habits. Thanks to this virus, the priority of Millennials during the pandemic has dramatically changed. Now, they are more concentrated on Beauty and personal care products whereas before the pandemic, they put more attention on the clothing category. The representatives of Boomers and Gen X changed their preferences from the category of Beauty and Personal Care, to Books and Kindles. As for Gen Z, nearly 50% of representatives of this generation said that they had to cut their spending during the coronavirus.
The most interesting part of the puzzle is that all five generations forgot about differences in their preference during the global pandemic period. For all the five generations, groceries became one of the most popular product categories.
Finally, we want to present some interesting metrics about the future of online shopping on Amazon.
Both Millennials and the representatives of Gen X are sure that the main part of the shopping experience will happen online. Nearly 15% of the Silent Generation, are sure that online shopping will completely replace the physical stores. More than 70% of Silent Generation are completely sure that they would not be okay with solely online shopping.
So many people, so many opinions!
But there is one thing that we strictly believe. Online shopping will always remain one of the fastest and easiest ways to make purchases. Therefore, keep investing in your business and try to do your best in order to run a fair business on Amazon. That’s because even a minor mistake may lead your business to bankruptcy, since Amazon can suspend your seller account for a lot of reasons. If you want to reinstate your suspended account, or learn how to succeed in your Amazon business, just call us and we will put your business on the right direction!