Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
AI Wars: Does Amazon’s Breakthrough Enable it to Outshine GPT-3.5?
Amazon just had a breakthrough in natural language processing (NLP) as it was able to develop a language model with 1 billion parameters which yields a very impressive accuracy rate of 91.68%. This model outperforms previous state-of-the-art model GPT -3.5 by 16%.
(This chart compares Amazon’s performance with that of other models. Image source here.)
This milestone is just one of the many mind-exploders in the AI development world today.
Read about the significance of it here.
Amazon Set to Launch Its NFT Marketplace on April 24th
All systems go for Amazon’s Web3 push.?
Dailycoin reports that the retail giant is poised to launch its brand new NFT marketplace in the US on April 24, 2023, barring any unforeseen events. 15 NFT collections are rumored to be available from the launch, and the digital collectibles will be linked to physical products which will be delivered to customers’ doorsteps.
The entry of Amazon as a major player in the Web3 space increases the real-life utility of NFTs.
Also, Amazon’s plans to utilize NFTs to track and keep delivery data has the potential to speed up delivery times, reduce fulfillment costs, and add utility to NFTs.
Can Bezos make the hop from world’s largest book-store to world’s largest NFT space?
Amazon MCF App for Shopify Launches
Amazon recently launched the Amazon Multi-Channel (MCF) fulfillment app for Shopify. This direct integration between your Shopify site and Amazon inventory will enable you to automatically fulfill your Shopify orders as they come in with your Amazon FBA inventory. Shopify orders fulfilled by Amazon will be charged multi-channel (MCF) rates which start at $7.15 per item.
You can also block Amazon Logistics as a delivery method for a 5% fee. The rates may be a bit steep, but this allows your Shopify site to harness Amazon’s powerful fulfillment system if you don’t have a third-party setup.
Learn more about the benefits and features of the integration here.
3-Way Match Mobile App for Business Customers
Amazon also just launched the 3-Way Match mobile app which was designed to help business customers.
3-Way Match reconciles purchase orders, goods receipts, and supplier invoices to ensure that goods or services have been received and approved for payment. This process helps to prevent fraud, errors, and discrepancies in the procurement and payment process, and ensures that the company pays only for what it has received.
The app works by enabling account administrators to scan barcodes on packages when they arrive and automatically mark them as “received”.
Important Amazon Updates for Yo’ Bad Self
Reminder: Create Removal Orders for Meltable Inventory by April 15th
Make sure to create removal orders for your meltable inventory by April 15th. Take note that Amazon FBA only accepts meltable products from October 16 to April 14, and any product of this kind that is stored or arriving at fulfillment centers from April 15 to October 15 will be marked unfulfillable and disposed of for a fee. If you want to learn more about meltable inventory requirements, click here. You can also download an updated Excel sheet of meltable ASINS from the help page.
Revamped Amazon Small Business Academy
Amazon just completed its revamp of ASBA. The Small Business Academy now features an expanded suite of FREE resources for entrepreneurs, including live weekly “office hours” by professors from over 250 chapters on university campuses. This was made possible through a partnership with the Collegiate Entrepreneurs Organization (CEO). Learn more about the ASBA here.
Learning Opportunities This Week
Here is a weekly round-up of learning resources:
Blog Posts:
- How to Get Approved to Sell Restricted Brands on Amazon by Full-Time FBA
- Amazon Hazmat: FBA Dangerous Goods Program Explained by Chris Grant
- Amazon FBM: What Is Fulfilled by Merchant and How Does It Compare to FBA by Chris Grant
- Amazon Business Insurance: Is General Liability Enough? by eComEngine
- How to Get Your Products on Amazon Inspire by eComEngine
- Amazon Inventory Management 2023 Guide by Jungle Scout
- Mastering Amazon’s Profit and Loss Statements by AMZ One Step
- How to Use the Amazon Search Query Report to Maximize Performance by Right Side Up
- How to Profit from the 2023 Amazon Spring Sale by AMZ Advisers
- Amazon Brand Gating: The Secret to Protecting Your Products and Brand Reputation by SellerApp
Podcasts:
- How to Follow Rabbit Trails to Find More Inventory to Sell by Full-Time FBA
Upcoming Seller Events ????
Here are a few upcoming industry events that you might be interested in. Slick that hair back and start mingling, playa!
Inventory Lab Summit (March 23 – March 24, 2023) – Virtual
For their 10th anniversary, Inventory Lab is going big by hosting its first ever virtual Customer Appreciation and e-commerce event. Key Inventory Lab insiders will provide exclusive behind-the-scenes- info on the most recent Inventory Lab developments and important tips on how you can fully utilize the app to succeed in Amazon. It’s a great opportunity to network with other sellers, and there’s AMAZING SWAG up for grabs!
Retail Fest and Retail Global (March 27-30, 2023) – Gold Coast, Australia
A global conference that brings together online retailers, e-commerce businesses, and service providers to learn, network, and collaborate about “all-things-ecommerce.” The event will take place in Gold Coast, Australia, and will feature keynote speeches, breakout sessions, panel discussions, and workshops that cover a wide range of topics.
Canton Fair 2023 (Physical Event – April 15 – May 5, 2023, Online Exhibition – March 16 to September 15, 2023) – Guangzhou, China
After a three-year hiatus due to the pandemic, China’s largest and most comprehensive trade show is finally back! The trade event will be divided into three phases, with each phase featuring different key niches. Here’s the schedule:
- April 15-19 – electronics and lighting
- April 23-27 – consumer goods, ceramics, and maternity and baby products (NEW)
- May 1-5 – medical products, textiles, and products within the elderly niche (NEW)
The Canton Fair will be open to foreigners, so if you’re looking for suppliers and want to take a huge business leap, this event is for you!
Sellers Summit (May 23-25, 2023) – Ft. Lauderdale, FL
“The ultimate learning conference for e-commerce brands.”
Seller summit brings together e-commerce entrepreneurs, experts, and service providers to share strategies, tactics, and insights on how to succeed in the online marketplace.
White Label World Expo (May 3-4, 2023) – Las Vegas, NV
“Master being an online entrepreneur” – Keynote Theater 1 plays host to the Amazon Pro Seller Summit where experts share tips on top rankings, growth strategies, product detail optimization, and many more!
Growth Labs (May 30-31, 2023) – Austin, TX
“Keep your finger on the pulse of retail media.” – Amazon Ads experts and other keynote speakers lead a deep dive into the power of data driven insights that you can leverage to grow your business. 150 seats are available.
SellerCon (June 1-3, 2023) – Austin, TX
“The most powerful tool to elevate your business.” Featuring Amazon experts like Destany Wishon, Vanessa Hung, and Aaron Cordovez, SellerCon promises to not only motivate you to push your business to new heights but also equip you with the roadmap to grow your business. 2,000 seats are available.
Other Quick Clicks
- Amazon and Walmart duke it out over an $808 billion healthcare industry
- Amazon “Just Walk Out” shopping makes college debut
- Southwest gets Cloud help from Amazon after mass flight grounding
- These sexy things on Amazon are getting wildly popular
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
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