Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
Elon Musk, Steve Wozniak, and Others Sign Open Letter to Halt AI Training Systems
Elon Musk, Steve Wozniak, Tristan Harris, Emad Mostaque, and 1,100+ signatories signed an open letter asking AI Labs to suspend training of AI stronger than GPT-4 for 6 months.
The letter reads:
“Contemporary AI systems are now becoming human-competitive at general tasks,[3] and we must ask ourselves: Should we let machines flood our information channels with propaganda and untruth? Should we automate away all the jobs, including the fulfilling ones? Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete, and replace us? Should we risk loss of control of our civilization? Such decisions must not be delegated to unelected tech leaders. Powerful AI systems should be developed only once we are confident that their effects will be positive and their risks will be manageable.”
The letter continues by saying, “if said pause cannot be enacted quickly, governments should step in and issue a moratorium.”
In an interview with The Wall Street Journal, Open AI CEO Sam Altman says that training for GPT-5 has not commenced, and reiterates that the company has always prioritized safety in development. GPT-4, he says, underwent a series of safety tests for six months prior to its release.
As of writing, the open letter has already garnered over 50k signatures.
Top Amazon 3P Sellers Reigning for Nearly a Decade
According to Marketplace Pulse, 20% of the top 10,000 Amazon US sellers have been at the top for over 7 years, while 60% of the top sellers from 2015 are still on the platform, indicating the possibility of long-term success on Amazon. Despite competition and fees, Amazon’s expanding overall market GMV allows for growth without saturation.
Image from Marketplace Pulse
For now, it appears that Amazon is still the marketplace that offers the best chances for success.
Read the full story here.
Trending Toward the End of Free Shipping
Retailers, including Amazon, who offer free shipping to build customer loyalty are struggling to maintain it due to rising fulfillment costs and e-commerce contractions. Amazon, using its Prime subscription and profits from other businesses, has been able to offset its costs, but other retailers are finding it difficult.
To reduce costs, many retailers are prioritizing shipping cost reduction over delivery speed. Amazon has raised its threshold for free shipping, and other retailers have decided to stop offering it altogether.
Are we trending toward the end of the free shipping era?
Read the full story here.
Beeple, Pudgy Penguins, Likely to Be Featured in Amazon’s NFT Marketplace
According to insider sources, Amazon is really close to finalizing its in-house NFT initiative. And to fuel even more excitement, one document hints that digital collectibles from top crypto-native creators Beeple and Pudgy Penguins will be featured in its NFT marketplace. Also, a separate source has stated that Amazon had already informed partners that Artifact Labs and Proof Collective will be involved as well. Beeple, Pudgy Penguins, Artifact Labs, and Proof Collective, however, were not available for comments regarding the Amazon partnership.
Beeple’s EVERYDAYS: THE FIRST 5000 DAYS. The most expensive NFT ever sold ($69.3 million)
Reports say that Amazon is planning to heavily promote the digital collectibles hosted in its marketplace to Prime subscribers on Prime Day, which is expected to happen on July 22 and 23.
Read the full story here.
Important Amazon Updates for Yo’ Bad Seller Self
Prepare for Prime Day 2023
In a recent announcement, Amazon encouraged sellers to start preparing for Prime Day 2023. Take note of the following dates:
- Create your deals by April 28, 2023 to participate in the Prime Day sale.
- Make sure your inventory arrives at Amazon US fulfillment centers by June 15, 2023.
To help you prepare for Prime Day 2023, check out these videos from Seller University:
Amazon Now Flagging Frequently Returned Products
Amazon has begun displaying a banner on product listings which tells shoppers if the product is frequently returned.
The badge reads “Frequently returned item. Check the product details and customer reviews to learn more about this item.”
Amazon spokesperson Betsy Harden confirms that they are currently showing return rate information on some product detail pages, and the purpose of the frequently returned banners is to help Amazon shoppers make more informed purchase decisions.
New Impact Dashboard and Redesigned Brand Registry Homepage
Amazon recently launched its new and improved Brand Registry homepage which makes it easier for brand owners to navigate the tool’s features to protect their intellectual property (IP), manage their listings, and grow their business. Also, the new Impact Dashboard provides insights on how Amazon protects your IP and branded product listings.
Rebate on FBA Fulfillment Fees
Brand-registered sellers may now enroll in the FBA New Selection Program, a program which makes it easier and cheaper to offer new products through FBA. Sellers enrolled in the program also get a 10% monthly rebate on average on sales of eligible branded parent ASINS that are new to FBA plus free storage, free liquidations, and free returns processing for a limited time. These benefits can be used for an unlimited number of new parent ASINS each year. Learn more about the FBA New Selection Program here.
Amazon Vine Program Discount
Sellers who enroll any product in Amazon’s Vine Program between March 15, 2023 to April 15, 2023 will enjoy the benefit of a discounted rate of $100 per parent ASIN enrollment (50% savings). The offer is only applicable to the products enrolled in the US and JP store. Learn more about Amazon Vine here.
New Options to Report Product Detail Image Issues
Amazon now provides two new options when sellers report issues with images on their product detail page:
- Remove Images – allows sellers to report images on the detail page that don’t align with Amazon’s product guidelines.
- Dispute Main Detail Page Image – allows sellers to open cases to investigate why their images are not showing on the detail page.
The updates will roll out to all US sellers in the coming weeks. View the full announcement here.
This Week in Seller School…
Here is a roundup of learning resources for this week:
Blog Posts:
- How to Decide if an Online Retailer Is Legit or a Scam (Reseller Focused) by Entreresource
- Amazon GTIN Exemption – What It Is and How You Can Apply for One by Clear the Shelf
- How to Improve Your Amazon Targeted Ads by eComEngine
- Top Amazon Product Categories in 2023 by Jungle Scout
- How Your Amazon Account Level Reserve Actually Works by Payability
- Why Is Amazon Hiding Prices for Some Listings? MAP Explained by BQool
Podcasts:
- 72 Hours by Seller Performance Solutions
- Dealing with Counterfeit or Intellectual Property (IP) Claims on Amazon (Part 2) by Full-Time FBA
- Everything You Need to Know about Amazon FBA Prep Service by The Next Amazon Top Seller
- An Amazon Seller’s Guide to Building Your Credit by Helium 10
- The Art of Business Systematization by AM PM Podcast
- Image Prompt Engineering for Amazon Sellers by Seller Sessions
YouTube:
- Full Amazon Ranking and PPC Strategy 2023 by Dan Rodgers
Free Downloads:
- 101 Professional Networking Tips by HubSpot
Upcoming Seller Events ????
Here are a few upcoming industry events that you might be interested in. Slick that hair back and start mingling, playa!
Seller Labs Webinar: Is Facebook Advertising Dead? (April 12, 2023, 2:30 PM EST) – Virtual
“Learn about the current state of Facebook Advertising.”
Canton Fair 2023 (April 15 – May 5, 2023) – Guangzhou, China
“China’s largest and most comprehensive trade show.”
White Label World Expo (May 3-4, 2023) – Las Vegas, NV
Master being an entrepreneur.
Seller Sessions Live 2023 (May 13, 2023) – London, United Kingdom
“The UK’s premiere conference for Amazon sellers.”
Sellers Summit (May 23-25, 2023) – Ft. Lauderdale, FL
“The ultimate learning conference for e-commerce brands.
Growth Labs (May 30-31, 2023) – Austin, TX
“Keep your finger on the pulse of retail media.”
SellerCon (June 1-3, 2023) – Austin, TX
“The most powerful tool to elevate your business.”
Amazon PowWow (July 12-13, 2023) – Palm Beach, FL
“Serious networking. Serious Learning. Serious Fun, A new standard in Amazon events.”
Midwest e-Com Conference 2023 (July 19 -21, 2023) – Minneapolis, MN
“Created by fellow sellers for our fellow sellers.”
Other Quick Clicks
- Amazon hits another electric delivery vehicle milestone
- Amazon opens Sidewalk Network for professional development
- Amazon ekes its way into restaurants with online ordering partnerships
- Iberdrola and Amazon collaborate on renewable energy and digitalization
- Amazon exploring purchase of AMC and its 600 theater locations
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
Come on, you didn’t fall for that did you? Belated April Fools!
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