Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
Is Amazon Unleashing a New Web Browser?
You’re up to something, Jeff. We feel it.
A recent user survey from Amazon hinted at what might be on the horizon: a web browser.
The survey included rather telling questions asking customers what would motivate them to try out a new browser from Amazon and what features would they like to know most about if one were already available.
A web browser would make perfect sense, considering Amazon’s massive push towards advertising. The data collected by its own web browser can be synced with its existing wealth of customer data on shopping behavior and preferences, making it a very enticing proposition to digital marketers out there. Google is also about to kill off Chrome’s third-party cookies, the only means for advertisers to track consumers for ads. The timing seems impeccable.
Will we finally see an improved “Silk,” the first browser Amazon tried to release way back in 2011?
Read the full story and view the user survey Amazon sent out here.
Amazon Adding Product Sales Data Directly to Listings
Amazon is now testing a new listing feature that shows product sales velocity directly on the listing. Notice the “100k+ bought in last month” under the reviews below:
Image from Marketplace Pulse
For shoppers: the new product listing feature, which shows rounded-up sales figures, serves as social proof of a product’s popularity and is actually a better indicator compared to the Best Seller Rank which few shoppers can actually make sense of.
For sellers: Up until now, direct sales volume data, which is vital to a seller’s decision-making, has only been accessed through third-party product research software and apps. If Amazon is able to display accurate sales volume data directly in the listing, sellers may not have to rely so much on third-party data.
As of now, this new listing feature is still in the testing stage and is only visible to a number of users.
Read the full story here.
Amazon Reveals One-pound Satellite Internet Dishes
This isn’t available yet but will be a solid alternative option to Starlink or OneWeb. Super light weight! Read about Kuiper here.
The Skinny on the Silicon Valley Bank Collapse
Shockwaves from the recent collapse of Silicon Valley Bank are lingering. Mostly anyone connected to the financial world can feel them. Our payment processor was using SVB, so we tasted a little bit of the shock too. Yuck.
Image from USA Today
According to an article from Investing.com, the collapse can mainly be attributed to:
- Risky lending practices – SVB’s lending practice was heavily focused on lending to early-stage startups with high growth potential. However, most of these startups failed to generate enough revenue leading to an alarmingly high number of loan defaults.
- Lack of diversity in its loan portfolio – a significant portion of SVB’s loans went to a few large customers.
- Inadequate risk management systems – SVB’s risk management systems were painfully inadequate, and failed to clearly identify and manage the risks associated with its lending practices. Also, the bank paid dearly for the management team’s prioritization of growth over risk management.
SVB’s cautionary tale has prompted a new study that analyzes the asset exposure of US banks to a recent rise in interest rates with implications for financial stability. The findings don’t really paint a rosy picture.
In a nutshell, at least 190 US banks are at risk of failure even if only half of their depositors decide to withdraw their funds.
YIKES.
The good news is that there are ways to prepare for bank failures.
This blog post enumerates some measures you can take to secure your assets in the event of a bank collapse.
April 2022 Sales Tax Due Dates
Quick reminder: Click here to find your state (or states) to see your sales tax due date.
TaxJar automates sales tax filings across 11,000 jurisdictions and can ensure full compliance all the time. They have a free 30-day trial period if you are interested.
Important Amazon Updates for Yo’ Bad Seller Self
Storage Utilization Surcharge
Starting April 1st, Amazon will be imposing a storage utilization surcharge for professional sellers with a storage utilization ratio above 26 weeks. In other words, pro sellers who store over 26 weeks of inventory at FBA warehouses will be slammed with an additional fee on top of the usual storage fees and long-term storage fees. Keeping slow-moving inventory is going to be very costly from this point forward, so if you have a significant amount of it stored at FBA warehouses, it’s imperative to either quickly reduce your inventory levels or find ways to increase sales velocity. Learn more about the 2023 FBA monthly storage fee and aged inventory surcharge changes here.
MCF Fees in Europe
If you fulfill MCF orders in Europe via Amazon, take note that Amazon has raised the multi-channel fulfillment fees across some size tiers due to rising operational costs. The said fee update will take effect on April 7, 2023, and will include an increase for parcel size and oversize size tiers. Read the announcement here.
Amazon Brand Registry Search Performance
If you are enrolled in Amazon’s Brand Registry, you can now download their search performance results. This new feature includes a variety of reports which includes one that how the Amazon’s Choice badge impacts their performance and an outliers report that allows the seller to see top and bottom search queries. These reports can be accessed by heading to Brands > Brand Analytics > Select the type of report you want to view > Select Download.
FBA Donations Program Certificates
If you participate in Amazon’s FBA Donations Program you may now access a donations certificate that shows the products and value that you have donated to charity. You can learn more about the FBA Donation program here.
This Week in Seller School…
Here is a roundup of learning resources for this week:
Blog Posts:
- The Best Decision-Making Tools for Business Owners by The Hustle
- How Brands Can Improve Their Amazon Sales Using Chat GPT and Open AI by Influencer Marketing Hub
- Which Cosmetic Products You Can Resell On Amazon in 2023 by BQool
- Different Types of Amazon Badges and How to Get Them in 2023 by Cruxfinder
- How You Can Sell on Amazon for Free in 2023 by Jungle Scout
- Amazon Automated Grade and Resell Programme by ChannelX
- Want to Quickly Increase Your Amazon Sales? Here are 3 Key Tips from an Amazon Consultant by Entrepreneur
- The Main Takeaways and Actionable Insights from the Prosper Show 2023 by SellerLabs
Podcasts:
- The Future of Ecommerce Product Sourcing: What You Need to Know with Nathan Resnick by My Wife Quit Her Job
- The Ultimate Guide to Understanding Amazon Seller Fees by The Next Amazon Top Seller
- The Canton Fair Experience: Essential Tips for a Successful Trip with Kian Golzari by Seller Sessions
- How to Earn 5 (or even 6) Figures a Month on Amazon by Full-Time FBA
YouTube:
- Open AI Live Demo – Feature Walkthrough of GPT-4 by EntreResource
Upcoming Seller Events ????
Here are a few upcoming industry events that you might be interested in. Slick that hair back and start mingling, playa!
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 (April 15 – May 5, 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.
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.
Amazon PowWow (July 12-13, 2023) – Palm Beach, FL
“Serious networking. Serious Learning. Serious Fun, A new standard in Amazon events.” Amazon PowWow will feature 16 industry experts and leaders offering actionable advice that can help your Amazon business thrive. Meet and connect with exhibitors, vendors, and suppliers offering the best business solutions, and network with fellow sellers. There’s also great food, great drinks, and great entertainment!
Midwest e-Com Conference 2023 (July 19 -21, 2023) – Minneapolis, MN
“Created by fellow sellers for our fellow sellers” – learn about the most current, most important, and most pivotal changes happening in the world of ecommerce. Equip yourself with the knowledge and insider info to navigate Amazon, Ebay, Etsy, and other ecom platforms successfully.
Other Quick Clicks
- Amazon-powered c-store opens at Virginia college
- Amazon reveals its squared-off Project Kuiper satellite internet dishes
- Amazon, Rivian may end EV van exclusivity
- Amazon cancels newspaper, magazine subscriptions via Kindle Newsstand
- Rite Aid teams with Amazon to offer 2-hour delivery
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
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