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Amazon’s momentum and opportunities for retailers From Covey Report

The following is the Amazon’s momentum and opportunities for retailers From Covey Report recommended by And this article belongs to the classification: research report, Online shopping.

Consumers seem to have a bit of a love hate relationship with Amazon. At the same time, people’s positive attitude towards the company has weakened in the past. No matter what attitude consumers hold towards Amazon, its impact on the retail industry last year was huge.

The survey found that about 51.5% of American adult consumers think that Amazon has a very positive or some positive impact on the retail industry. This is higher than 45.1% in 2020. Similarly, from 2020 (23.7%) to 2021 (19.9%), the proportion of consumers who think Amazon has a very or some negative impact on the retail industry has also declined. This is probably the result of the epidemic, and the extent to which consumers are turning to e-commerce has magnified Amazon’s importance.

Another survey in 2020 found that nearly half of consumers (47%) think Amazon’s impact on the environment is neutral. In 2021, the proportion of consumers who think so has declined slightly (44%). However, the number of consumers who think the e-commerce giant has a very positive impact on the environment has increased significantly, from 26.4% in 2020 to 35.9% now.

Fast and free delivery has always been a reason for consumers to shop on Amazon. So far, that’s still why 73% of consumers shop on Amazon, although that’s down from 79.6% in 2020. One of the reasons for Amazon’s strong shopping momentum in the past year is its convenient shopping process (58.4%).

Distribution is also why consumers choose Amazon over small local businesses. Nearly a quarter of the respondents (23.3%) said that the freight of small businesses is more expensive or does not provide free freight; 22.1% of consumers think that the freight of small businesses is higher than that of Amazon.

However, price is the most common reason to choose Amazon over local enterprises, as one third of consumers (33.7%) said.

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