As the lines between commerce and content continue to blur…
Amazon’s newest “Shark Tank” style show, “Buy It Now” shines the spotlight on small businesses in a giant competition.
Here’s what you need to know.
What is “Buy It Now”
Debuting October 13th, Amazon’s “Buy It Now” takes the aspect of the judgemental investors and marries it with the Home Shopping Network. The premise features small retailers giving a 90-second pitch of their product to a panel of judges…
Finalists will get their products sold on the “Buy It Now” storefront on the site and help marketing the product to Amazon shoppers.
THE GRAND PRIZE WINNER WILL GET THESE PERKS AND A WHOPPING $20,000
The products on “Buy It Now” will be judged by a panel of Amazon executives and celebrity entrepreneurs, like Gwyneth Paltrow and Tony Hawk.
One of the show’s main goals is to highlight the smaller retailers and the break-out products on Amazon. Smaller retailers historically have had a more difficult time competing for attention from the site’s shoppers…
Larger retailers have the resources to advertise their products on the site whereas smaller retailers do not.
Shoppable Content
“Buy It Now” isn’t Amazon’s first foray into shoppable content…
The company has been putting QR codes into their shows to encourage viewers to shop the products on the screen.
However, this is a more direct approach.
Other companies, like Walmart, dove headfirst into shoppable content.
The move is also Amazon’s attempt at competing with TikTok Shop, Shein, And Temu.
Ultimately, Amazon might try to boost its bottom line with “Buy It Now…”
But it also gives a platform to small businesses trying to make it in the business world too.
Be Great,
GCTV Staff
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