Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
Amazon Prime Early Access Sale Stats
Amazon had its pre-holiday season sale last October 11-12, and while Amazon has been quiet about the sales figures, data groups like Numerator and Salesforce have provided third-party estimates to give us an idea on how consumers spent their money during this 2-day sales event.
Some key takeaway stats:
- Over 100 million items sold
- $46.68 – Average order size ($13 less than prime day in July)
- 21% – Average online discount rate
- 26% of shoppers passed on a deal because it wasn’t a necessity
“Despite the deep discounts (21%), consumers are still generally paying more than they did in the past two years due to high inflation. The average online selling price on Tuesday and Wednesday, for example, was up 8% compared to last year, and 17% compared to 2020” Salesforce said.
While the sales numbers are definitely impressive, the impact of inflation is clearly being felt by sellers and consumers alike.
Read the full story here.
TikTok and Amazon: On a Collision Course?
With over 1 billion users, TikTok has emerged as a powerhouse platform for customer acquisition. Most recently though, the short-form video hosting service has made big strides in e-commerce as it seeks to create an international supply chain to sell products through its platform.
According to this report, when TikTok started developing live shopping features on its app, it was also taking initial steps in the construction of fulfillment centers and the creation of a Seattle-based logistics team to oversee its international e-commerce fulfillment system.
Looks like TikTok has issued a challenge to Amazon for e-commerce supremacy. Let’s get ready to rumble.
Amazon’s Rumored Exit from the Private Label Game
Amazon’s reduction of its private label offerings and discontinuation of sold-out items have the rumor mill abuzz with its possible exit in the private label scene. If the rumors are true, third-party sellers will have awesome opportunities to fill the gaps and convert shoppers into their own customers instead.
These customers will overflow into third-party private-label brands as well as established brands which are often offered by resellers.
This blog post from Carbon 6 explains in detail the possible reasons why Amazon may want to exit the PL arena, and what it exactly means to 3P sellers.
Cross your fingers and toes.
The Documentation You Need to Protect Your Amazon Business
Selling on Amazon is a massive opportunity, but you need to have your ducks in a row in case unexpected hiccups show up.
Documentation is one of the best ways to make sure your business is protected, and this blog post from ‘ecommerceChris’ walks you through all the types of documentation necessary to feel secure at all times.
A Serious Issue with Customer Returns
Do you pay attention to product returns and reimbursements?
This blog post from Ryan Grant of Online Selling Experiment explains how Amazon’s return policy (which is very, very customer-centric) can actually shortchange a seller with reimbursements when customers make a product return.
“This has happened nearly 1,500 times in 2022 in my business alone! If the average additional reimbursement on these were $9, we’d be owed an additional $13,500!”
Seriously– read this article. Ryan does a great job of explaining how sellers are losing money when customers file for a refund but never return the product.
There is no resolution for these types of reimbursements yet, but we will keep you posted if we see any updates.
Gen Z’s Favorite Big Brands
The youngest generation of adults are building societal clout and spending power, and this brand study from Morning Consult gives us great insight into who they are, what brands they like, and what their interests are.
A few interesting stats about Gen Z and seller-relevant favorability:
Three major marketplaces in top 7 of overall favorite brands. Amazon (4), Walmart (6), and Target (7) all received top-10 favorability ratings.
Brands that fall under the umbrella of the food & beverage industry make up half of Gen Z’s top 40. M&M’s ranks highest, coming in at No. 5 with 80% favorability.
Nike is the highest-rated non-consumption product brand on the list. Here is a screenshot from the report of the top 12 brands with the highest rating among Gen Z:
There are quite a few cool comparisons of Gen Z and other generations, as well as comparisons between males and females.
Check the full report out here.
Other Quick Clicks
- Amazon, Walmart focus on groceries, earnings after pre-season sales
- Amazon is switching the rockets used to launch the first 2 of more than 3,000 satellites, delaying lift off until 2023
- Amazon One Technology growing at Seattle’s Climate Pledge Arena
- Why Amazon sunsetted some of its healthcare projects
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
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