Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
Amazon & the Independent Seller
Amazon recently released its 2022 Small Business Empowerment Report, and here are the 8 top takeaways:
- 4.1 billion products were sold by independent sellers – an average of 7,800 products sold every minute in the Amazon store.
- Brand owners experienced a 20% sales growth year-over-year with the aid of Amazon’s new and improved tools, programs, and services.
- Independent sellers in rural areas had a 40% sales growth year-over-year.
- An estimated 1.5 million US-based jobs were created by Amazon independent sellers.
- The five most shopped categories from US independent sellers are: Health & Personal Care, Home, Beauty, Grocery, and Apparel.
- The five states with the most number of independent sellers in 2022 are: California, Florida, New Jersey, New York, and Texas.
- Per capita, states with the most independent sellers are: Wyoming, Delaware, Florida, Utah, and New Jersey.
- The five states with the fastest-growing number of independent sellers in 2022 were: Alaska, Washington D.C., Mississippi, Maine, and Wyoming.
Great to see how Amazon’s commitment to contributing to the success of small businesses is paying off.
Registration Now Open for Amazon Accelerate 2023
Registration is now open for Amazon Accelerate 2023. Amazon’s premiere annual seller conference is happening at the Seattle Convention Center on September 13-14, 2023.
The regular registration price is $599, but if you register in person (in-person registration is only for active Amazon sellers) before June 10, you’ll get a $100 discount. Virtual registration is free and open to all.
Learn more about Amazon Accelerate 2023 and register here.
Klaviyo Announces New Integration with Amazon’s Buy with Prime
Image from Martech Vibe
Marketing automation and customer data platform Klaviyo recently announced a new integration with Amazon’s Buy with Prime that enables users to easily sync their Buy with Prime orders and customer data with their Klaviyo account. The additional data provided by this integration provides a complete customer view that can be utilized for laser-focused customer communication campaigns in the future, leading to increased conversions and revenue, as well as stronger customer relationships.
Read about the full capabilities of Klaviyo for Buy with Prime here.
Chinese Shopping Apps Out to Dominate the World
According to a report from Marketplace Pulse, China’s Shein or Temu occupy the top spots on the lists of most-downloaded apps in half of the world’s fifty largest economies.
Image from Marketplace Pulse
Some quick numbers:
- Shein or Temu hold both the number 1 and 2 spots in 10 countries. Also, in 25 of the 50 largest countries by GDP, Shein or Temu are the most-downloaded shopping apps.
- Temu is the most-downloaded shopping app in 14 countries including the US, France, Italy, Spain, Germany, and the United Kingdom.
- According to the Wall Street Journal, Shein’s sales reached $30 billion in 2022. According to Shein’s projections, global gross merchandise value is set to grow to $80 billion in 2025.
That’s impressive, and a true testament to Shein and Temu’s commitment to their global ambition and marketing wizardry.
However, it remains to be seen if both retailers can figure out the challenge of converting popularity to a sustainable and profitable market share.
Should Amazon be scared? Well, at least not yet. It still lords over the US e-commerce market as evidenced by the $127.4 billion revenue it pulled in Q1.
Things are about to get interesting for sure though, as both Shein and Temu have established a solid base of repeat customers. Stay tuned.
AI Caramba! This Week in AI + Ecomm
- Google has just introduced Product Studio, a retail tool which uses generative AI to help businesses create and alter images.
- Google also just recently invested in generative AI startup, Runway AI Inc.
- Instacart recently launched a new in-app AI search tool powered by ChatGPT.
- Amazon has deployed AI to detect damaged goods before they ship.
- ChatGPT owner OpenAI projects $1 billion revenue by 2024.
Important Amazon Updates for Yo’ Bad Seller Self
Free Enrollment in Amazon Vine between June 5 and July 21
Brand owners may enroll up to two units per ASIN in Amazon Vine for free starting June 5 (9:00 am PT) until July 21 (5:00 pm PT).
You will only be charged the $200 enrollment fee if you enroll three or more units per ASIN and receive the first review within 90 days.
Learn more about Amazon Vine here.
June Capacity Limits Lock In
Around the 16th, Amazon will lock in a seller’s storage volume for the upcoming month and provide Capacity Limit estimates for the following two months. This allows you to plan your shipments in advance. Keep in mind that new surcharges were introduced at the beginning of the year, and you’ll be subjected to two new fees should you exceed limits:
- FBA Inventory Overage Fee – you’ll be subjected to this fee if you exceed your capacity limits and will be billed monthly at $10 per cubic foot based on daily average volume.
- Storage Utilization Surcharge – billed in tiers based on the storage space you utilize, this fee is assessed monthly based on storage utilization ratio.
Read this detailed guide so that you can manage your FBA inventory better and avoid exceeding your capacity limits.
June 2023 Sales Tax Due Dates
Click here to find your state/s and to see your June 2023 sales tax due dates.
This Week in Seller School…
Here is a roundup of learning resources for this week:
Blog Posts
- Your Complete Guide to Amazon Attribution by Amazon
- Premium A+ Module Guide by Amazon
- A Seller’s Guide to the Amazon Partner-Carried Program by eComEngine
- Brand Vs Product Marketing: What’s the Difference by eComEngine
- Amazon Best Sellers and Trending Products in June 2023 by Jungle Scout
- How to Sell Clothes on Amazon Fashion and the ‘Everything Store” in 2023 by Jungle Scout
Webinar
- Ask the Experts – Amazon Policies by Teikametrics
Podcasts
- Prime Day Tips to Maximize Your Sales by Full-Time FBA
- From Private Label to Online Arbitrage: $30K/mo Flips Nation Success Story by The Next Amazon Top Seller
- Create and Celebrate the Small Wins on Your Way to a Great Amazon Business by Silent Sales Machine Radio
- Just Because You Can Doesn’t Mean You Should by Seller Performance Solutions
Upcoming Seller Events📍
Here are a few upcoming industry events that you might be interested in. Slick that hair back and start mingling, playa!
The Ultimate Prime Day Prep Kit by Seller Labs (June 8, 2023, 2:30 PM ET) – Virtual
Learn the steps needed to build a successful Prime Day strategy.
Billion Dollar Seller Summit (June 11-15, 2023) – San Juan Puerto Rico
Widely considered as the best event for 6,7,8, and 9-figure Amazon sellers.
Retail Innovation Summit (June 13-15) – Chicago, IL
Get inspired by retail’s most innovative minds and see their ideas in action.
Ecom TLV (June 19, 2023) – Tel Aviv, Israel
A day of learning and networking together with leading international speakers and ecommerce sellers.
Amazon Ads Webinar (June 22, 2023, 12:00 AM CST) – Virtual
Learn how to foster long-term customer loyalty through a range of free and paid self-service solutions from Amazon Ads.
Amazon Ads Webinar (June 28, 2023, 2:00 am CST) – Virtual
Go beyond the basics of store creation and learn how to build an engaging, dynamic destination on Amazon.
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 aims to digitize 10 million small businesses in India by 2025
- Dish deal with Amazon could boost mobile sales
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
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