As we embrace the dawn of 2024, the ever-evolving landscape of Amazon presents both challenges and opportunities for businesses worldwide. At Market Defense, we’re constantly analyzing trends and strategizing for the future. That’s why we’ve gathered insights from our team of experts, each specializing in different facets of the Amazon ecosystem. From global business trends to the specifics of brand protection and Amazon marketing, our team’s predictions for 2024 offer a comprehensive look at what to expect and how to prepare for the year ahead in this dynamic marketplace.
Skylla Jones, SVP, Business Development: Shift in Consumer Purchase Behavior
“I predict that 2024 will see a significant shift in consumer behavior on Amazon. Shoppers are becoming increasingly aware of who they’re buying from, especially after negative experiences with counterfeit products, scams, or poor service. This heightened awareness will lead to a more meticulous examination of sellers. If the seller is not the brand itself, consumers are likely to look elsewhere. This trend underscores the need for brands to establish and maintain authenticity and transparency on the platform.”
Taha Celik, VP, Supply Chain: AI-Driven Advancements in Warehousing & Logistics
“I predict AI will be the driving force behind Amazon’s warehousing and logistics revolution in 2024. Imagine AI-powered robots in warehouses, enhancing operations with speed and precision, and AI-driven systems optimizing delivery routes based on real-time data like traffic and weather conditions. This evolution is not just about automation but a symbiosis of human expertise and machine intelligence.
Amazon’s commitment to this AI-driven future promises a new era of efficiency, agility, and sustainability. The collaboration between AI and human talent will bring innovations that streamline the supply chain, improve customer experiences, and reduce environmental impact. As we step into 2024, expect to see a transformative leap in how goods are moved and delivered, thanks to the power of AI in Amazon’s logistics and warehousing.”
Dave Karlsven, SVP, Client Marketing & Data Science: Marketing
“I predict 2024 will bring increased use of AI and machine learning in Amazon Marketing, enhancing personalization in shopping experiences. We’ll see more sophisticated product recommendations, search result customization, and targeted advertising. Voice shopping is also set to grow, with a focus on optimizing for voice search and transactions, which may lead to new voice shopping ad formats.
Amazon Advertising is poised to expand with diverse ad formats like augmented reality ads and interactive content. Enhanced mobile shopping experiences are on the horizon too, with features like Augmented Reality product previews.
Social media and influencer marketing integration within Amazon will become more prominent, possibly featuring direct shopping links in social media and influencer-curated product lists. Lastly, expect a greater emphasis on data privacy and security, reflecting consumer awareness and demand for transparent data practices”
Shelley Swallow, VP, Brand Protection: Brand Protection
“I predict that in 2024, we’ll see a lot of ‘Back to basics’ behavior from brands. They’ll be looking closely at their supply chain, relationships with current authorized partners, and contracts for Brand Protection. There will be a focus on protecting their brand across major platforms like Walmart and Target, as well as a concentrated effort on Global Brand Protection.
Brands will be intent on minimizing leaks and diversion through their supply chain and authorized retailers. Product marking will be a priority, whether it be lot code tracking, serialization, or simply tracking top SKUs to retailers that have unexplained upticks in orders.
I’m seeing brands do a deep dive into their contracts with international distributors, as well as taking a closer look at their agreements, contracts, and terms and conditions with their U.S. partners. The beginning of a new year is a great time to reset with authorized partners and send a reminder about the brand’s expectations when it comes to reselling their products.”
Lisa Raimondo, Chief Commercial Officer: Commercial, Customer, & Sales Strategies
“My prediction: In 2024, data will take a – potentially the – starring role in guiding strategy choices, coupled with the rapid rise of Performance Marketing.
Intuition, instinct, and expertise are perennial traits of Beauty, essential for spotting emerging trends and needs. But data will increasingly guide everything from new brand launches to marketing and consumer reviews. With brands facing aggressive growth goals and resource constraints, the use of data for ‘smarter growth’ is accelerating.
We’ll use more data to define our paths and make strategic bets. And once choices are made, there’s an abundance of opportunity for smarter reinvestment in execution and evaluation. In 2024, we’ll delve deeper into what’s possible with real-time tracking, gap identification, and budget optimization. This hunger for knowledge is driving the rapid rise of Performance Marketing, where growth through dynamic data truly lives.”
Brandon Pemberton, President: Global Business Trends
“My prediction for 2024 centers on global marketplaces, especially in Europe and LATAM, as key drivers for long-term growth. The optimism stems from factors like LATAM’s growing middle class, the shift to ecommerce and mobile buying in both regions, and significant investments in supply chain and logistics infrastructure in LATAM. This confluence of trends is likely to unlock unprecedented opportunities for brands seeking international expansion.”
However, these positive growth indicators could be tempered by factors such as global economic challenges, supply chain disruptions due to political conflicts, and a tightening regulatory environment in Europe. Despite these potential hurdles, 2024 is poised to be a foundational year for global marketplaces, setting the stage for accelerated growth in 2025 and beyond.”
As we conclude our exploration of the 2024 predictions from our Market Defense team, it’s clear that the coming year is set to be dynamic and transformative across various facets of Amazon and e-commerce. From AI-driven logistics to evolving global marketplaces, these insights reflect the depth of expertise and forward-thinking approach that Market Defense brings to the table. As your partner in navigating the ever-changing landscape of Amazon, we’re committed to leveraging these insights to help your brand stay ahead of the curve, adapt to emerging trends, and seize new opportunities for growth and success. Here’s to embracing the possibilities of 2024 and making it a year of remarkable achievements with Market Defense by your side.