Here is your midweek jetpack of Amazon seller news, updates, and other useful clicks for your e-commerce business…
Amazon – 1, Walmart – 1
Walmart has regained the top position from Amazon on Forbes’ Global 2000 list of retailers, benefiting from high inflation and economic uncertainty.
According to a report from Forbes, the top 10 largest retailers are:
- Home Depot
- CK Hutchison Holdings
However, Amazon remains dominant in ecommerce, accounting for 48% of US retail spending compared to Walmart’s 7%, as reported by PYMNTS. Amazon’s share of ecommerce spending has also increased from 43.7% to 47.9%. The report highlights that Amazon continues to outpace its competition in sales, maintaining a significant lead over Walmart.
15,000 Sellers Generated Nearly Half of Amazon’s Total Sales in 2022
According to a report from Marketplace Pulse, an elite group of 15,000 sellers got more than 100,000 orders on the Amazon US marketplace in 2022, accounting for more than half of Amazon.com’s hundreds of billions of dollars in sales.
A good number of these elite sellers have been on Amazon for at least five years, and have overcome stiffening competition, fee increases, and other significant marketplace challenges.
Amazon Partnering for a Circular Economy
Amazon has partnered with the Ellen MacArthur Foundation to promote a circular economy. They will create certifications for circular products and establish industry-wide standards.
A circular economy aims to minimize waste and maximize resource efficiency by keeping materials in use and promoting recycling and reuse. The collaboration will also explore returnable packaging systems and support the foundation’s Plastics Initiative.
TikTok Wants a Crack at Amazon, But Challenges Loom
TikTok is aiming to grow its ecommerce business to $20 billion and become a leading alternative to Amazon, as reported by Bloomberg.
However, attracting merchants and the lukewarm reception for livestream shopping pose challenges for TikTok. YouTube and Instagram’s attempts at livestream shopping had limited success, and Instagram even shut down its live shopping feature.
To achieve its goals, TikTok will need to revolutionize the way Americans shop.
AI Caramba! This Week in AI + Ecomm
- Amazon recently turned to AI to prevent damaged items from being sent to customers, and according to this report, Amazon’s AI-based quality control system is 3x more effective at checking for damaged products than human workers.
- Amazon recently partnered up with Hexa, a 3D visualization platform that uses AI to create digital replicas of real-life objects and/or environments. Hexa technology will be made available to third-party sellers who may use it to create and display 3D images, immersive 360-degree viewing, virtual try-on capabilities, and augmented reality (AR) content on their Amazon product pages.
- Tech startup Granica, which can help data-centric AI companies optimize their cloud object storage in Amazon S3 and Google Cloud, recently raised $45 million in its latest funding round
Important Amazon Updates for Yo’ Bad Seller Self
Affirm Buy Now, Pay Later (BNPL) Option Added to Amazon Pay
Amazon Pay merchants in the US can now offer their customers installment payment options using Affirm’s technology, which can be easily added to their existing Amazon Pay button.
Customers of Amazon Pay merchants in the US may now opt for biweekly or monthly payment options for purchases over $50 starting at 0% APR.
Read the full story here.
Amazon’s Prime Day ‘23 – Brand Guide
Amazon recently released its Prime Day ‘23 Brand Guide. It provides some sexy details such as A+ content, Amazon Live Shoppable Videos, Manage Your Experiments, Brand Analytics, Manage Your Customer Engagement, Brand Referral Bonus, and Build Your Brand page.
Improve Sales by Adding Videos to Your Listings
Sellers, both brand-registered and non-brand-registered who have been selling on Amazon for at least three months, can now add video content to their product pages. The types of video content you may post include product demonstrations, installation guides, and set-up videos. You may also repurpose existing content such as short-form social media or website videos on your Amazon listings or brand pages.
Go to Amazon’s video upload page and read up on instructions, troubleshooting help, and best practices to maximize video placements.
New-to-Brand Metrics for Amazon Attribution Campaigns
You can now optimize your new customer acquisition strategy by using new-to-brand conversion metrics in Amazon Attribution campaigns.
Amazon Attribution allows you to track the effectiveness of your marketing channels in driving sales to your Amazon store. To access new-to-brand metrics, visit Amazon Attribution in the advertising console and select a campaign to view the products report.
Learn more about Amazon Attribution here.
Ask Amazon: Send to Amazon Delivery Window Thread
Amazon recently had an Ask Amazon event that focused on the new Send to Amazon Delivery Windows. If you use Send to Amazon, view this thread to view Amazon’s answers to the most popular questions about the topic.
This Week in Seller School…
Here is a roundup of learning resources for this week:
Prime Day 2023 Guides
- An Amazon Seller’s Guide to Prime Day 2023 by Seller Bites
- Amazon Prime Day Statistics: Data FBA Sellers Need to Make the Most of Prime Day by Jungle Scout
- Prepare for Prime Day 2023: Strategies for Amazon Sellers by Seller Engine
- How to Sell Shoes on Amazon – Step by Step Guide for 2023 by Clear the Shelf
- Amazon Code of Conduct to Avoid Suspensions: Key Things to Check by Ced Commerce
- Unlocking the Potential of AI: Maximizing Sales and Fostering Customer Loyalty on Amazon by Medium
- Amazon’s Best Practices: Do’s and Don’ts for a Successful Seller Account by Ced Commerce
- Aligning Product Development and Brand Personality for Amazon FBA Success by Seller Sessions
- Selling Branded Bundles and Building a Seven-Figure Empire by Silent Sales Machine Radio
Upcoming Seller Events📍
Here are a few upcoming industry events that you might be interested in. Slick that hair back and start mingling, playa!
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.
Unleashing Success in Q3 by Coresight Research (June 27, 2023, 11:00 AM ET) – Virtual
Join industry experts as they delve into the factors shaping the third quarter of 2023.
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.”
AMZ United (August 31, 2023) – Newark, New Jersey
The premiere wholesale-focused Amazon conference.
Amazon Accelerate (September 13-14, 2023) – Seattle, Washington
Amazon’s premiere annual seller conference.
Other Quick Clicks
- Victoria’s Secret Expands with Amazon
- Amazon India Launches Global Beauty Store
- Amazon’s 20% off coupon was too good to be true
Thank you for reading. If you have any questions, comments or violent reactions, let us know below!
Jeff to Wall Street after buying a single share of Amazon stock in late May:
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