Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
Giveaway Winners
The big OA bundle giveaway ended last week, and the winners are….(drumroll please….)
Lea L (#974) and Scott A (#936)
We have contacted you with details on how to claim your prizes, and Chris Grant will be reaching out separately with the licenses for software and videos! Congratulations!
Thank you to everyone who entered and participated. Keep your third eye out for future giveaways…
Jeff Bezos to Give Away Most of His Fortune?
Did someone get a visit from the Ghost of Christmas Future?
Jeff Bezos recently announced that he has every intention of giving away the majority of his 126 billion fortune (while he’s still alive, mind you) to various causes, particularly climate change, and charities.
Bezos and partner Lauren Sanchez also confirmed a $100 million grant under the Bezos Courage and Civility award to country singer Dolly Parton, which will be used for philanthropic work. (she’s already worth nearly a billion..)
While we can’t ignore the elephant in the room that highlights the much-needed work condition improvements and pay for Amazon workers, this does seem like a big step in the right direction for humanity.
Only time will tell if it actually happens or not… mwhahaha.
Experts Predict Black Friday 2022 Consumer Spend
With only two weeks before one of the biggest Amazon selling events of the year, there is a lot of speculation on how inflation-battered consumers are going to spend their money.
In this article, Orla Powers of Luzern Ecommerce and Dan Edelman of American Express make predictions on focus points for this Black Friday.
Some key takeaways:
- Brands and retailers should avoid the “race to the bottom” pricing and instead focus on new product variations or bundles to sell at higher price points and protect profit. (create new bundle listings)
- Shoppers will be budgeting carefully and will be looking for the best deals. More retailers will most likely extend their promotional deals for longer periods of time.
- Consumers are now focusing more on the utility of the product, rather than its perceived luxury. Research says that 1 in 5 shoppers will be gifting “essential items” this Christmas.
- 77% of consumers believe that now is the most important time to support small businesses.
Small Business Empowerment Report
Amazon has just released its Small Business Empowerment Report and is really ramping up support to small businesses by providing more tools, services, and opportunities to third-party sellers.
This report is packed with cool statistics and Amazon success stories, so give it a quick glance. It’s worth it.
A few noteworthy stats:
- Amazon estimates that Amazon 3P sellers have employed more than 1.5 million workers in the US
- Wyoming, Deleware, and Florida have the most Amazon sellers per capita
- Nebraska had the fastest-growing sales rate in 2021
- More than 100,000 new brands joined Amazon in 2021
- Over 600,000 sellers are using FBA
- US sellers exported more than 225 million products last year
Update to FBA Inventory Reimbursement Policy
Yes…another update on the Amazon reimbursement policy for fulfillment center claims:
“Effective November 11, 2022, we are changing the FBA inventory reimbursement policy to update how we calculate reimbursement value for fulfillment center operations claims for items that are in an unsellable condition at the time they are lost or damaged. For unsellable items, Amazon will reimburse you at a valuation consistent with the estimated proceeds of the discounted sale of the unit. For more information, go to the FBA inventory reimbursement policy.”
Basically, they will no longer be paying you the full new value of the item that is lost or damaged if it was in “unsellable” condition before it was lost or damaged.
It may be best to set auto-removal orders for any “unsellable” items in your account — as we know more often than not these items are actually perfectly fine when they get returned. There may be an opportunity to flip them elsewhere.
Learning Opportunities: Advertising for Your FBA Reseller Business
Advertising can give you a significant advantage over your competitors — even if you are a reseller.
We found two great learning resources for you this week:
- Podcast – Reseller Advertising Strategies for Increased Profits on the Full-Time FBA Podcast
- Virtual Summit Videos on Advertising – Q4 On Demand
Other Quick Clicks
- Amazon commits $53 million in funding to accelerate climate innovations by women
- Meet Sparrow: Amazon’s new item-picking robot
- Amazon reveals New Prime Air Delivery Drone
- Amazon pilots face-recognition for prospective third-party sellers
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
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