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Amazon.com, Inc. (NASDAQ: AMZN) unveiled its Exclusives store for U.S. customers. The store will feature products from new brands funded by Kickstarter campaigns and give consumers early access to new inventions.
Tom's Guide Associate Editor, Michael Andronico, was on CNBC Wednesday to talk about how the launch of this store benefits Amazon and whether consumers will lose interest in these products once Amazon starts selling them.
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Finding Cool
"The way this benefits Amazon in my opinion is it shows their consumers that they continue to be on the cutting-edge that they are aware of what's cool in tech," Andronico said. "They are aware of these up-and-coming gadgets and I think if nothing else, it gives consumers confidence that Amazon is not just a site that sells major goods that they are willing to go out there and find unusual and cool things for their shoppers."
Products Need To Be Special
Andronico was asked if he sees these crowdfunded products lose momentum once they start selling under Amazon's exclusives. He replied, "It's very tricky. Select devices, for example, you think about the Pebble Watch that started as a kickstarter device and now that is a massively successful smartwatch that people still buy."
"So I think there will be exceptions that make it past the crowdfunding stage and do sell well on Amazon, but for a lot of products, they are going to have to be something special for people to want to buy them once they have already been crowdfunded," Andronico concluded.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.