The company dominating online product searches is…
Two tech giants switched places when it comes to where customers start their product searches.
Amazon overtook Google in the category as about 54% of product searches begin on Amazon, up from 46% in 2015, according to “The Competitive State of eCommerce Marketplaces Data Report,” from Jumpshot.
According to data, almost 90% of all product views on Amazon result from the e-retailer’s product search — not merchandising, ads or product aggregators. Amazon search result placement is vital for product views as well, as the fourth ranked product spot generates more views (7% of all clicks) than the second and third ranked spots (5.7% and 5.2%, respectively).
In addition, more than two-thirds of all product clicks come from the first page of Amazon results, and one-third from the first two rows alone, the study revealed.
Despite its edge over Google, time to purchase from Amazon search takes longer than its competitor. Across all categories, Amazon search averages 25.9 days from search to purchase. Google search averages just 19.6 days. In addition, 35% of Google searches led to a transaction within five days, compared to less than 20% of Amazon searches.
Amazon is also increasing focus on sponsored ads. Sponsored listings only make up about 6% of all product views from Amazon's search results page. Clicks from sponsored placements on Amazon have increased 17% since the beginning of 2018, the study revealed.
"Amazon's dominance has really set it apart as the default place for product search, encroaching on Google's territory," said Deren Baker, CEO of Jumpshot. "They have started to leverage that strength with more sponsored placements, making billions on their product search even while their market share plateaus.”
Product searches aside, Amazon has more than 80% market share across numerous categories. However, its dominance has left no room to grow further. While Walmart has a relatively small market share today compared to Amazon, it is growing at 3.5x faster than Amazon, the study said.
From an individual growth perspective, Amazon's growth is 1.7x slower than individual category growth year-over-year. Amazon also saw an average of 20% growth year-over-year across various categories.
Meanwhile, Walmart is growing more than 2x faster than individual categories across the board, except in women's clothing. Overall, Walmart is growing 70% year-over-year across categories, and the average year-over-year growth across several categories is 32%.
Top performers across other categories include:
• Home Improvement Category: Walmart and Home Depot are growing up to 16% in market share, while Amazon is declining.
• Furniture Category: Wayfair has a good market hold and continues to grow at 21%, however Ikea is outshining these gains with 57% year-over-year growth.
• Food Category: Specialized food delivery brands are losing share while big box retailers like Walmart and Kroger grow 52% and 20% year-over-year, respectively.
• Beauty Category: Specialist retailer Sephora declines 53% online, superstores Walmart and Target steal market share.
• Women's Clothing Category: All top marketplaces are growing share except Amazon; H&M grew the highest at 77% year-over-year.
Amazon overtook Google in the category as about 54% of product searches begin on Amazon, up from 46% in 2015, according to “The Competitive State of eCommerce Marketplaces Data Report,” from Jumpshot.
According to data, almost 90% of all product views on Amazon result from the e-retailer’s product search — not merchandising, ads or product aggregators. Amazon search result placement is vital for product views as well, as the fourth ranked product spot generates more views (7% of all clicks) than the second and third ranked spots (5.7% and 5.2%, respectively).
In addition, more than two-thirds of all product clicks come from the first page of Amazon results, and one-third from the first two rows alone, the study revealed.
Despite its edge over Google, time to purchase from Amazon search takes longer than its competitor. Across all categories, Amazon search averages 25.9 days from search to purchase. Google search averages just 19.6 days. In addition, 35% of Google searches led to a transaction within five days, compared to less than 20% of Amazon searches.
Amazon is also increasing focus on sponsored ads. Sponsored listings only make up about 6% of all product views from Amazon's search results page. Clicks from sponsored placements on Amazon have increased 17% since the beginning of 2018, the study revealed.
"Amazon's dominance has really set it apart as the default place for product search, encroaching on Google's territory," said Deren Baker, CEO of Jumpshot. "They have started to leverage that strength with more sponsored placements, making billions on their product search even while their market share plateaus.”
Product searches aside, Amazon has more than 80% market share across numerous categories. However, its dominance has left no room to grow further. While Walmart has a relatively small market share today compared to Amazon, it is growing at 3.5x faster than Amazon, the study said.
From an individual growth perspective, Amazon's growth is 1.7x slower than individual category growth year-over-year. Amazon also saw an average of 20% growth year-over-year across various categories.
Meanwhile, Walmart is growing more than 2x faster than individual categories across the board, except in women's clothing. Overall, Walmart is growing 70% year-over-year across categories, and the average year-over-year growth across several categories is 32%.
Top performers across other categories include:
• Home Improvement Category: Walmart and Home Depot are growing up to 16% in market share, while Amazon is declining.
• Furniture Category: Wayfair has a good market hold and continues to grow at 21%, however Ikea is outshining these gains with 57% year-over-year growth.
• Food Category: Specialized food delivery brands are losing share while big box retailers like Walmart and Kroger grow 52% and 20% year-over-year, respectively.
• Beauty Category: Specialist retailer Sephora declines 53% online, superstores Walmart and Target steal market share.
• Women's Clothing Category: All top marketplaces are growing share except Amazon; H&M grew the highest at 77% year-over-year.