Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
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A Few Notable Amazon Market Stats Through Q3
After a slight slowdown in Q1 and Q2, Amazon bounced back to profitability in Q3 and reported a profit of $2.87 billion.
Here are a few other stats from Q3:
- Revenue rose 15% to $127.1 billion, just missing analysts’ expectations of $127.39 billion
- Operating income decreased to $2.5 billion in the third quarter, compared with $4.9 billion in the third quarter of 2021
- Shipping costs rose 10% to $19.9 billion for the quarter
- Amazon Web Services revenue rose 27% to $20.5 billion
- Quarterly retail sales in North America totaled $78.84 billion
- Overseas revenue totaled $27.72 billion
- Amazon is predicting a fourth-quarter revenue between $140 billion and $148 billion, representing year-over-year growth of 2% to 8%
Despite uncertain economic stability, these stats are pretty impressive and highlight continued opportunities for growth in the Amazon marketplace and other e-commerce platforms.
Jungle Scout Q3 Consumer Report Trends
We’ve pulled a few interesting charts on consumer spending trends that Jungle Scout put together on their Q3 Consumer Trends Report (which is epic).
First, lower-income households have decreased their overall and online spending, while higher-income households have increased.
Overall changes in spending are averaging each other out. 32% said online spending decreased. 35% said online spending stayed the same. 33% said online spending increased.
Here is a breakdown of averages ranging between 1-50% and 50-100%:
When searching for products online, consumers still favor Amazon as a starting point— but social media platforms are growing.
It’s very possible that Amazon shopping will be embedded directly into social platforms in the future.
The top five most popular brick-and-mortar stores for shopping were Walmart (65%), Target (33%), Walgreens (18%), Home Depot (15%), and Amazon Go Grocery (13%).
The top five most popular online retail sites were Amazon (75%), Walmart (43%), eBay (19%), Target (16%), and Apple (10%).
Again, you can download the full report here.
Some Sellers Experiencing Additional Restock Limits
Over the past week, sellers have reported that their available FBA storage space has been further reduced (to two-month sales limits) by Amazon in addition to the annual holiday restock limits.
Some speculate that these additional restock limits are due to a current shortage in manpower that Amazon is experiencing.
Yes, this is one of the thorns to selling solely on Amazon through FBA, and a great reminder to explore external fulfillment centers and FBM.
FBA is a magical beast that provides an incredible opportunity for us all to make a living and connect with consumers all over the world, but having alternative plans in place for fulfillment will reduce your dependency as a seller on Amazon and its sharp decisions.
Stay positive and enthusiastic— these times are wild and full of opportunity that our ancestors would have deemed “magic or witchery.”
This blog post from ZonGuru also provides helpful tips on how to effectively manage cuts to your replenishment limit.
November 2022 Sales Tax Due Dates
Click here to find your state (or states) and see your due dates for November.
TaxJar offers a free trial also if you want to automate your filing.
Their blog is also a great source for education in all things related to sales tax law.
- Which States Require Sales Tax on Clothing
- Five E-commerce Sales Tax Use Cases that Trip Retailers Up
Learning Opportunities: Halloween Edition
Halloween may be over, but there are plenty of things that really scare the sh*t out of Amazon sellers.
The best way to overcome selling fears is to stay informed and to always be prepared. Here are a few clicks to help:
Podcast: Amazon Seller Fears and How to Overcome Them by Clear the Shelf
Podcast: Reseller Secrets to Black Friday Profits by Full-Time FBA
Blog Post: Halloween on Amazon 2022: Top Trends of 2022
Blog Post: Best Books for Amazon Sellers: The MUST Reads
Blog Post: The Best Amazon Seller Forums
Other Quick Clicks
- Amazon rolls out Venmo payment option
- Pressed for time, Amazon may turn to its SpaceX rival for satellite launches
- Save Mart teams with Amazon to fulfill grocery orders
- Amazon’s recent acquisitions highlight the value of consumer data (and the evolving privacy issues)
- Amazon testing robots to transport oversized items in fulfillment centers
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
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