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Over the past 20 years, consumers have developed a strong loyalty to Amazon for its convenience and speed of delivery. Customers depend on the online retailer for a variety of things, including streaming devices, pillows, Dutch ovens, and so much more.
Because of the sheer volume of inventory, sellers on Amazon don’t really have an easy way to stand out and attract consumers. The Amazon Launchpad storefront aims to change that. For those who don’t know, Amazon Launchpad is a special platform that showcases innovative products, allowing shoppers to explore emerging brands and discover useful goods produced by small businesses. Through this platform, startups can get more exposure on Amazon to support their business, giving them a much-needed spotlight in the rapidly growing e-commerce industry.
The virtual storefront has already received approval from one famous business owner - Venus Williams. In an interview with Venus Williams explained E!News “provides expertise and support to small brands, entrepreneurs and startups to help them overcome the many challenges associated with launching new products.” I explained her unique motivation for partnering with Amazon, adding, “As a business owner myself, I’m a big fan of Amazon Launchpad’s mission to provide expertise and support to small brands, entrepreneurs and startups.”
How did Amazon Launchpad come to be?
Founded in 2015, Amazon Launchpad began as a collaboration with crowdfunding platforms, venture capitalists and startup gas pedals such as Y Combinator, Andreessen Horowitz and Indiegogo. With the goal of attracting startups, Amazon then set out to provide these small businesses with greater brand visibility while helping shoppers discover innovative new products that meet unique customer needs. To date, over 6,000 startups have been featured on Amazon Launchpad.
Although originally an invitation-only service, Launchpad now accepts applications from any Amazon seller with gross sales of less than $5 million. If accepted into the Launchpad marketplace, sellers must pay a 5% premium to receive increased visibility for their products through preferred placement on the Launchpad store homepage and during holiday and Prime Day sales, as well as through banner ads, email campaigns, flash offers and Amazon’s Day deals. With these valuable resources, the program can help emerge brands get their businesses off the ground.
How do I join Amazon Launchpad?
According to Amazon, the Launchpad program encourages small brands, entrepreneurs and startups with unique and innovative products to apply. Besides having gross sales of less than $5 million, eligible products must have at least a 3.5-star rating or higher and have been listed on Amazon for less than four years. Once enrolled, the Launchpad contract lasts for one year, after which the brand can revert to normal Amazon seller status.
What does Amazon Launchpad sell?
Since many new companies with innovative products can qualify for seller status, the Launchpad site offers customers a wide range of unique and innovative products. On the homepage, you’ll find brilliant inventions in categories such as toys, cooking and baking, electronics, beauty and health, and more, with new items added daily.
In addition, shoppers can discover the faces behind the brands by visiting the “Meet the Launchers” page, and shop in categories such as women’s, social good, black, sustainability, Latino and family.
Some of the most popular products that have been featured on Amazon Launchpad include the Exploding Kittens viral card game and the most popular hair catcher, the Tubshroom.
What are the innovation awards?
Besides the range of services Launchpad members enjoy, sellers can also gain more exposure through Amazon Launchpad’s Innovation Awards. The competition offers brands the opportunity to win up to $100,000 in funding, besides showcasing their products to Amazon customers. Amazon began awarding innovation grants of up to $10,000 in December 2020, and during August 2021, aka “Innovation Month,” shoppers can vote for their favorite brand among the finalists to receive $100,000 in prize money and be crowned “Innovator of the Year.” Besides the cash prize, winners will also receive 12 months of free access to the Amazon Launchpad program, as well as industry-wide recognition.
By voting, it will automatically enter customers for a chance to win products from the grant recipients, valued at up to $500 each. Votes are being accepted through Friday, August 20.
Any of the thousands of innovative products in the Amazon Launchpad program could become the next big thing, but it’s up to shoppers to decide which promising new brand deserves the title.
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