Amazon (NASDAQ:AMZN) has announced the launch of Exclusives, a new store that features products from up-and-coming brands. Goods range from electronics, accessories and toys to sporting equipment. The site will also highlight brands from product innovators and even include products featured on the TV show "Shark Tank."
"Our mission on behalf of customers is to make Amazon the destination for brands and innovators to launch and sell their products, providing our customers early access to new products," said Peter Faricy, VP of Amazon Marketplace. "We understand that helping brands gain exposure for their award-winning new products is beneficial to customers that desire to be the first to have the hot new item."
Amazon is hoping to woo the early adopter customers through Exclusive, as well as keep current visitors on the site longer by enticing them with unique offers. This launch arrives on the heels of another new store, Amazon Elements, which offers a line of ethically sourced items that the e-commerce company began selling to Prime members last December.
"The move may help refresh Amazon's associations in people's minds," said Agathe Blanchon-Ehrsam, CMO of Vivaldi Partners Group. She said that while Amazon has come to be known as a go-to destination for everyday items, the company needs a push in the unique find category to compete with e-commerce players such as Etsy.
"Other players like Kickstarter, Shopify and Etsy have become destinations to discover new trends and products, so Amazon's move into exclusive innovations may help the company regain its 'cool' factor, but the real question is whether consumers will derive meaningful value from finding these products on Amazon." she added.
However, Blanchon-Ehrsam said Amazon doesn't have a choice if it wants to progress, referring to the change in consumer behavior as a sort of "digital Darwinism." "This is when consumers are expecting greater access to the latest innovations. Exclusive is a way for the e-commerce giant to further connect consumers with new brands and establish a relationship, especially with products that have been highlighted by the media or on television, like Shark Tank," she said.
Amazon's third-party sellers broke a record in 2014, selling more than 2 billion items worldwide. These transactions account for more than 40 percent of all units sold on Amazon.
-See this Amazon press release
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