5 reasons why you need to expand in new Amazon markets in 2022
Current e-commerce Market
The current e-commerce market is in a state of flux – and things are only going to get more competitive. Amazon’s dominance over the e-commerce market is ever-increasing, as it has recently expanded its worldwide presence by opening up shop in Mexico, Poland, and Japan, among other countries. Fortunately, there’s still plenty of room for brands of all sizes to carve out a profitable niche on Amazon, so long as they’re willing to expand their horizons.
As an Amazon seller, you might be thinking about which international market you should enter next. This article will provide five reasons why entering new Amazon markets could be a smart move for your business and how making your product known in new marketplaces can be highly profitable for you in 2022.
1. International expansion is now trending more than ever, and more Amazon sellers are following the trend.
Amazon is currently the largest online retailer in the world – and the COVID-19 pandemic has only strengthened its position as an e-commerce giant. The platform offers an enormous customer base and a wealth of data on buyers’ preferences and trends. As a result, several large brands have already pounced on the opportunity to be able to enter new markets that they may have even never had a presence in before – whether physical, online, or both.
Instead of trying to fare out on your own in uncharted waters, Amazon has essentially laid the groundwork for you to showcase your product on its established and successful platform that receives billions of visits on a daily basis. So, by tapping into Amazon’s existing global market network and its practically turnkey online selling solution, you’re in a position to reach new audiences that you could never have before.
2. You’re leaving money on the table
As the global e-commerce landscape becomes more and more international, Amazon is no exception. With so many Amazon markets available, there’s also more of an opportunity for you to sell more of your products.
Expanding into new Amazon markets 2022 means getting access to more buyers through the biggest online shopping platform in existence today. With each new Amazon market that opens up, there’s the possibility that new customers are looking for your product – and you may not even know about it! That’s why going over business analytics within each region of interest for items like yours can give you a glimpse at the potential demand for your product in a new marketplace – and increased demand means that your revenue potential can grow even more than before.
3. Non-Amazon US marketplaces have less competition
Often, entering a new Amazon market can mean more Amazon customers to sell to and fewer competitors to go up against. First-mover advantage can confer significant benefits when it comes to establishing your brand in a market where you have no prior presence – and where your competitors have yet to arrive, or had no other activity within it themselves. With less competition, it’s easier to deploy and test your marketing plans, see what works best for your new audience, and come up with a profitable strategy that will lead to consistent sales.
It’s worth noting that even markets that are already considered as established or large, such as Amazon Canada and Amazon Mexico, have less competition than one might expect. This is why exploring the potential of expanding into a new market should be done on a marketplace basis by going over their analytics and identifying opportunities where one may have even thought they didn’t even exist.
4. Localization can help you foster better customer rapport
Say you do take the leap and enter a new market, but do so unprepared: you don’t put any effort into translating your listings and packaging and neglect taking into account the nuances of language and culture.
It’s estimated that only half of the global population speaks English, which means that if you’re thinking that you can simply make the transition to another Amazon marketplace maintaining your listing as is, think again. Your customers may not be able to read your listing copy or make sense of what’s said on your listing images and, as such, are more likely to close their tab and buy from one of your competitors.
Having your listing and other branding materials translated by a native-speaking translator who’s specialized in working with Amazon sellers can do wonders to help you showcase your product in the best way possible to your new potential customers. You’ll now be speaking to them in their language, breaking the first barrier that may be holding them from making a purchase. What’s more, Amazon has recently made changes that allow for main listing images to be localized for each marketplace, allowing you to maintain cohesive brand messaging across all listings and marketplaces.
5. Ultimately, it helps build your brand equity
The founder and CEO of Amazon, Jeff Bezos, famously said, “Your brand is what other people say about you when you’re not in the room.” In the Amazon ecosystem, you’re never technically in a room, but you have the potential to be in every customer’s room who’s looking to buy what you’re selling. What do you want them to say about you – and don’t you want them to be able to say it in their language?
By expanding in different Amazon marketplaces, you’re given a chance to elevate your brand in ways you’ve never thought of before. When positioned right in the respective Amazon marketplaces, your product may end up in the hands of anyone from a Japanese student to a Polish homemaker or a Canadian farmer. Entering those new realms can help bring recognition and prestige to what you once thought could only be sold within the confines of your own country – so don’t miss out on the opportunity to make your brand known around the world.
Do you now feel more confident to expand into new markets? Entering new Amazon markets can be daunting for some sellers – especially if they don’t know what to expect. We hope this article gave you enough information to start on your journey to making 2022 your most profitable year yet – thanks to making the most out of your global Amazon selling capabilities!