In American households, two of the most common video streaming platforms are Amazon and Netflix. But, when it comes to net income and the number of subscribers, Netflix is the most popular.
A few analysts, however, expect Amazon to surpass the big names in video streaming services since the company has a record of disrupting or monopolizing every industry it enters.
Emmanuel Martinez, eCommerce businessman and CEO of Alphex Capital and Martinez Frontier Incorporated, says, “With Amazon video, every TV show and movie is a commodity and this ecommerce approach is responsible for a lot of the success that the platform has garnered.”
Let’s check a few e-commerce approaches of Amazon.
Price reduction strategy
Many e-commerce brands use the price reduction strategy to stay ahead of the competition and so does Amazon. It offers a package deal known as Amazon Prime for just $12.99 and an extra $4. In this package, users can access music, video, and fast delivery of items. It also offers a separate package of Amazon Video worth $8.99. However, people find the former one more convenient.
Today, 76% of American households own an Amazon Prime membership. This itself largely contributes to making Amazon a strong competitor of Netflix.
Buy one and get one strategy
In marketing, the “buy one and get one” strategy is still effective. E-commerce experts have been employing this strategy for decades.
Amazon uses this approach by offering the Amazon Prime membership plan, where Prime members can access Amazon Video, Amazon Music Prime, same-day grocery delivery, and one or two-day delivery for certain items.
The Strategy of Including User Reviews
Amazon Video incorporates user review capabilities. It can help viewers to make better decisions with respect to entertainment. It also means that there would be lesser chances of disappointment. Apart from Amazon, no other streaming platforms offer user views, not even Netflix. So, this strategy gives it the upper hand.
Final Thoughts
In the battle of streamers, the question still remains who would win it? Despite reviews being an outstanding e-commerce approach of Amazon Video that offers it a competitive advantage, it’s hard to say if it’s going to win. However, these are certainly some of the best tried and tested approaches that you can start implementing yourself.
