#81 - What to Expect in 2022, Amazon Strategies and more
SEATTLE--(BUSINESS WIRE)--Feb. 3, 2022-- Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2021.
Following the New Year inundation of year-in-review happenings and trend predictions for the year to come, there is a lot to discuss. In conversations with retailers, technology partners and industry veterans in my network, several points have stood out.
Twenty-five cents of every dollar spent shopping online goes to the Amazon third-party marketplace. Were Amazon’s marketplace an independent platform, it would be the largest online retailer in the U.S.
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Good to Know
There’s no shortage of industry bloggers or consultants on Chinese social media sites such as WeChat offering unscrupulous sellers so-called brushing services that help them create bogus reviews, credit card details, home addresses, and wish lists—all to simulate browsing histories and allow the placement of fake orders on retail websites.
$600 billion worth of goods were sold on Amazon in 2021. The total gross merchandise volume (GMV), including sales by Amazon itself and by the marketplace, doubled in three years. Most of that growth came from the marketplace.
While most of the focus has been on the quantifiable impacts of this chaos, there is another segment of the economy that has not been addressed as much — the e-commerce seller, many of which are small to midsized companies that rely on the global supply chain for their livelihoods.
Profit Whales, a marketing agency, has come out with an Annual Amazon PPC report. In this retrospective summary, they analyse the past year own data and put the metrics in trend graphs.
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According to Amazon’s return policy, “Third-party sellers must either provide a return address within the United States, provide a prepaid return label, or offer a full refund without requesting the item be returned.”
Amazon enrolled a small number of third-party sellers into the program while it was available. The retailer promised sellers they would earn a guaranteed minimum on their products, provided they agreed not to compete with the company.
Sending back an online order has never been easier. It’s often free for the customer, with some retailers even allowing customers to keep the item while offering a full refund.
Following a recent investigation by the attorney general of Washington, Amazon was ordered to pay $2.25 million and permanently shut down its “Sold by Amazon” program. Fundamentally, it was found that the program was based on price-fixing.
As a small business owner in Brooklyn, I first came to understand what predatory pricing really meant in 2014. Amazon’s losses were intended to capture greater market share — and it has worked. Between 2000 and 2015, the U.S. lost 108,000 independent retailers.
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“With the newly launched Pricing Status feature, you can view how your price compares to other prices on Amazon or outside of Amazon in the Price + Shipping column on the Manage Inventory page,” it stated.
Strong earnings from the likes of Amazon, Snap Inc. and Pinterest helped investors shrug off a tech-led selloff on Wall Street overnight following disappointing earnings from Facebook parent Meta in the wake of privacy changes by Apple and increased competition from TikTok.
“The FCC Radio Frequency Emission Compliance attribute is now available for you to add your FCC compliance information to radio frequency devices that you offer for sale on Amazon,” the marketplace informed sellers today.
Italian, French, and German regulators are stepping up fines on Big Tech for antitrust and privacy violations before Europe’s upcoming Digital Markets Act risks diluting their authority.
Amazon Marketplace owners who sell their business to Elevate Brands will now have the option of being paid in crypto. Elevate Brands, which holds a portfolio of Amazon-focused consumer products companies, is teaming up with Coinbase Prime to offer the option.
Tips and Tricks
While it may sound a little intimidating to a new seller, the process is relatively simple. In this article, we’ll go over what a UPC is, why you need one, and where to purchase one that’s compliant with Amazon’s Terms of Service.
Speaking in the video, she explained: “Bin stores are typically Amazon returns stores where they just put everything in bins - everything is just one flat price.
Our Customer Support team is the liaison between Jungle Scout and our customers. From guiding you through the first steps of starting a business to a new seller feature, Customer Support is well-versed in all things Amazon.
Online arbitrage is an incredible opportunity to make money on Amazon, without having to leave your home. In this article, we’re going to go over the best online arbitrage tools for your Amazon reselling business.
In this episode, we delve into all the benefits of raising your ASP and you’ll discover the direct link between long-term success selling on Amazon and having a higher ASP.