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As we navigate 2024, Amazon's search term dynamics undergo a notable transformation, offering a valuable glimpse into shifting consumer behaviors. This period signifies more than a change in the calendar; it's a time when consumer interests, aspirations, and purchase patterns take a noticeable turn. Sellers can take this opportunity to find products to sell in 2024.
Amazon's search term popularity during this transitional phase—spanning from the final moments of the old year to the emergence of the new—reflects evolving consumer preferences. These search trends serve as a significant indicator, showcasing the specific products, themes, and categories that capture the attention and spending of shoppers during this critical period.
At Threecolts, we are building the most comprehensive online marketplace management platform, and we believe it’s our responsibility to empower our partners with crucial information to aid their decision-making.
Amazon's Seller Central, a treasure trove of invaluable insights, grants access to comprehensive search term reports. These reports meticulously catalog the most sought-after products, categories, search criteria, and a suite of metrics vital for understanding consumer behavior. Among the critical metrics examined are Click Share, depicting the percentage of total clicks a product garners for a specific search term within a designated time frame, and Conversion Share, which shows a product's percentage of conversions compared to the overall conversions derived from a specific search term within the same timeframe. Additionally, the Search Frequency Rank metric details the frequency with which a search term or category appears in the report, illuminating the trends and shifts in consumer interest over time.
Delving into these metrics, we found some intriguing trends. Search term frequency surged in the week preceding Christmas in both 2023 & 2024. Despite this, the overall search term volume for the year 2023 exhibited a higher average than its preceding year, although with a more pronounced decline post-Christmas. Interestingly, the search term volume in 2022 remained consistently steady throughout the seasonal period. This nuanced pattern strongly suggests an evolution in shoppers' behavior, signaling a slight but discernible shift towards a more selective approach to New Year's shopping preferences compared to the prior year.
In general, we found that search term frequency peaked the week before Christmas in 2023. Search term volume on average was higher in 2023 than in 2022, but with a steeper decline post Christmas; in 2022, search term volume stayed consistent throughout the period. This trend suggests that shoppers are slightly more selective in New Year's shopping preferences this year vs. in the prior year.
The fluctuations observed in search volumes across categories underscore the dynamic nature of consumer preferences during the festive seasons. The substantial decrease in Apparel searches and the subsequent surge in Digital Video Downloads post-Christmas hint at evolving entertainment and consumption habits. The consistent search volumes in categories like Home and Beauty signify their enduring relevance, while the increase in gaming searches highlights an increased interest in gaming and virtual reality experiences.
Overall, these trends reflect the continuous evolution of consumer preferences, shaped by emerging technologies, changing tastes, and evolving entertainment mediums.
In the realm of video gaming, the year ending of 2023 exhibited notable shifts in search term trends, with key players like PlayStation, Xbox, Nintendo Switch, and Virtual Reality (VR) systems undergoing dynamic changes. The provided table above offers a detailed breakdown of the Year-over-Year (YoY) % growth in search term frequency, click share, and conversion share for each platform during the year-ending period in comparison to 2022.
Overall, video game searches rose YoY, largely propelled by heightened interest in PlayStation and Xbox. The exceptional increase in conversion share for PlayStation indicates a strong connection between search interest and actual engagement, likely fueled by the anticipation of major gaming releases and Sony’s successful bundling strategy selling consoles with best-selling video games in the box.
In summary, the video game landscape at the close of 2023 showcased a general increase in search frequency, clicks, and conversions. While PlayStation and Xbox sustained interest and steady conversions, Nintendo Switch faced challenges indicative of a matured product lifecycle. VR systems, on the other hand, experienced an end-of-year holiday surge in interest, emphasizing the potential impact of holiday-driven searches. Sellers should expect continued interest in video games as the PlayStation 5 and Xbox series systems continue to build momentum in the mid-stage of their lifecycles. The Nintendo Switch is lagging behind these competitors; however, sellers should anticipate a new Nintendo system later on in 2024.
Analyzing the trajectories of click and conversion rates revealed intriguing patterns. Some products maintained steady shares, while others fluctuated, potentially influenced by seasonality or competitive launches. Notably, gaming consoles like the Xbox Series X and PlayStation 5 retained significant click shares, reflecting persistent interest. Meanwhile, VR systems like Meta Quest 2 and Meta Quest 3 showcased substantial growth in click shares, signaling a rising fascination with immersive VR experiences, in line with previous findings about increased digital media interest. Sellers should consider stocking self-help books in the end-of-year period and look to increase stock in gaming products moving into 2024 given the growth in conversion rates observed.
In the transition from 2022 to 2023, several products witnessed notably high click rates.
Transitioning into 2024, the trends appear to maintain a similar pattern, albeit with some nuanced changes.
In the "9007 LED Headlight Bulb" category:
In the "Solar Lights" category:
Across both periods, the discrepancies between click rates and conversion shares persisted, suggesting a discrepancy between initial interest and final purchase decisions. Brands like RAMHORN and Narpult excelled in generating interest, while others like SYLVANIA, Joiedomi, and ULTRALOQ showcased higher conversion shares, signifying stronger appeal or trust during the purchasing phase.
In the case of RAMHORN LED replacement lights for cars, RAMHORN was much more competitively priced, about 30% cheaper than competitor brands such as Luxster. Similarly in the case of Narpult and ULTRALOQ (smart locks), Narpult locks are 35% less expensive and the main driver of clicks in this space.
The trends suggest a crucial need for brands to optimize not only click rates but also enhance the factors influencing conversion shares. Factors such as brand reputation, product design, product reviews, and customer satisfaction play a minor role in elevating conversion shares, but the overriding factor affecting conversions is price. As the transition from 2023 to 2024 reflects consistency in these trends, it might be imperative for brands to focus on pricing strategies that bridge the gap between interest and commitment to purchase.
The analyzed data from Amazon's Seller Central offers a compelling view of shifting consumer behavior during festive seasons and into 2024. Here's how sellers can leverage these insights backed by our statistical findings:
Selective New Year Shopping: The discernible shift towards selective shopping during the New Year, evidenced by the 16% decline in Apparel searches, calls for tailored marketing approaches emphasizing quality and uniqueness in products.
Digital Content Surge: The substantial 21% surge in Digital Video Downloads searches post-Christmas signifies a notable consumer shift from physical to digital content preferences. Sellers in the digital content space should capitalize on this trend by highlighting digital offerings and only stocking collectors'/limited editions of physical media.
Optimizing Conversion Rates: Pricing strategy is the major determinant of conversions. This emphasizes the need for sellers to scrutinize their competitors' listings and align their pricing strategy accordingly to bridge the gap between interest and conversion rates.
Adapting to Gaming Trends: The sustained fervor for gaming consoles like PlayStation 5 and Xbox Series X and the growing interest in immersive VR experiences present substantial opportunities. Sellers in these niches should increase stock and cater to the increased interest in the sector.
The statistical shifts observed from late December 2022 to early 2023 and in late 2023 into 2024 across Amazon's categories underscore the dynamism of consumer preferences during festive seasons. Sellers should adapt their strategies, focusing on quality, digital content promotion, competitive pricing, and responsive marketing to remain relevant in an ever-changing market.
To assess search trends and peak interest periods for different products and search terms, we used Amazon Seller Central search term data to assess the popularity and trending searches for the two weeks prior to the new year in 2022-2023 and 2023-2024 as well as the first-week search term data in 2023 and 2024. We assessed the click share, conversion rates, and search term frequency to assess the changing trends as we move through 2024.
