#146 - Amazon responsible for faulty goods, Amazon from Q4 2017 to Q2 2024, and more
Hot News
Federal Regulator Says Amazon Can Be Held Responsible for Faulty Goods Sold on its Marketplace
In a landmark order, the U.S. Consumer Product Safety Commission said the agency unanimously agreed Amazon “fits squarely” within the definition of a distributor of goods and bears responsibility for the recall of faulty products. The decision addresses a thorny issue faced by Amazon for years, with the company arguing it’s merely a conduit between third-party sellers and shoppers. A judge said Amazon’s fulfillment program for sellers give it “far-reaching control” over the products sold on its platform.
cnbc.com
Competition Made Amazon a Better Deal
Competition from Shein and Temu forced Amazon to lower fees, enabling sellers to lower prices, which, in turn, led to shoppers buying more items on Amazon. In January, seller fees on clothing cheaper than $15 dropped from 17% to 5%, and for items priced from $15 to $20 dropped to 10%. In March, Amazon followed up on lowering fees in the U.S. by cutting them in its European, Canadian, and Japanese marketplaces. The moves were a reaction to growing competition from Shein and Temu, which both focus on ultra-low prices.
marketplacepulse.com
Global Net Revenue of Amazon.com from 4th Quarter 2017 to 2nd Quarter 2024, by Product Group
In the second quarter of 2024, Amazon.com saw an increase in global net revenue across online stores when compared to the prior quarter. In terms of profitability, the online stores segment was followed by retail third-party seller services, with net revenues of 36.2 billion U.S. dollars.
statista.com
Good to Know
Amazon operating income growth outpaces sales in Q2 2024
Amazon.com Inc. marked growth nearly across the board, increasing net sales 10% in its fiscal Q2 while nearly doubling both operating income and net income. In North America, Amazon sales in Q2 2024 were nearly triple the online marketplace’s international sales. Its fiscal second quarter ended June 30, 2024.
digitalcommerce360.com
Amazon sales come up short, profits nearly double
Amazon’s sales fell short of Wall Street’s estimates but profits exceeded expectations in the company’s second quarter results, released Thursday afternoon for the three months ended June 30, 2024. The tech giant reported a 10% increase in second-quarter revenue, to $147.98 billion, shy of expectations of $148.56 billion. Profits were $13.5 billion, or $1.26 per share, nearly double Amazon’s profits in the same quarter a year ago, and surpassing expectations of $1.03 per share.
geekwire.com
Amazon moves up Black Friday inventory deadline for sellers
In a message to sellers last week, the e-commerce giant recommended sellers send Fulfillment by Amazon inventory to its facilities in August and September. This will allow sellers to have enough products in stock for the peak holiday shipping season, according to Amazon. “Our fulfillment center teams will be focused on receiving inventory in September and October to ensure your products are placed in the right fulfillment centers ahead of peak,” Amazon said.
retaildive.com
Shopify and Amazon Growing Sellers, Not Orders: Extensiv Market Insights
Extensiv— delivering omnichannel software solutions for warehouse, inventory, and order management — announced a summary of key findings from its 2Q 2024 Market Insights research which analyzes the order volume trends and seller dynamics across different ecommerce platforms. The 2Q insights indicate a complex picture of the ecommerce sector, with both Amazon and Shopify seeing a decrease in order volumes per seller despite increases in the number of sellers.
martechcube.com
Amazon: The World’s Most Powerful Economic and Cultural Force
Amazon is a more complex phenomenon than a highly successful marketplace selling its items and enabling third-party vendors to use its platform to sell its products. It is a multinational technology company relying on e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon enjoys a reputation as the world’s most influential economic and cultural force.
investing.com
Amazon develops China seller network to take on Temu, Shein
Amazon is making a push to acquire more sellers in China, aiming to expand its offerings of affordable products in the U.S. and elsewhere to take on Temu and other Chinese competitors. At the end of July, Amazon held an event for online sellers in Shenzhen, Guangdong province, telling them it would support their efforts to enter the global market. As examples of past successes in China, Amazon cited Anker, which makes chargers for smartphones and other devices, and robot vacuum cleaner manufacturer Roborock, both of which expanded around the world.
nikkei.com
Shopify vs. Amazon: Which is best in 2024?
Opening the proverbial doors to a new e-commerce store is an exciting moment. But before you can do that, you need to decide if you want to build your storefront on Amazon’s marketplace or invest in Shopify’s e-commerce platform. Amazon provides exposure to its marketplace of over 200 million Amazon Prime account holders worldwide, while Shopify allows you to create a dedicated website that’s fully under your control.
cnn.com
Amazon Poland update & FBA incentive
Since Amazon launched their Amazon Poland store in 2021, they have invested in 11 fulfilment centers to support the growing customer base. You will find Seller Central Poland is available to you as a country option in your EU Seller account. Amazon will synchronise your eligible product selection with your Seller Central account for Amazon Poland to make your products available to Polish customers. You can then of course revise your synchronised selection and will be able to adjust your product prices.
channelx.world
Amazon files lawsuit over counterfeit Ergobaby carriers
Amazon has joined forces with baby carrier manufacturer Ergobaby in a lawsuit against a series of individuals accused of selling counterfeits on its e-commerce platform. The complaint filed in a Seattle, Washington court accuses 10 people by name of trying to sell fake Ergobaby products on Amazon.com, along with another 10 unidentified people of advertising, marketing, distributing and selling counterfeit Ergobaby products in violation of the company's trademarks.
securingindustry.com
How Amazon is using AI to detect fake product reviews and ensure authentic customer feedback
Customer reviews have been a core part of why customers love shopping at Amazon ever since the company opened in 1995. Amazon makes sure that it’s easy for customers to leave honest reviews to help inform the purchase decisions of millions of other customers around the world. At the same time, the company makes it hard for bad actors to take advantage of Amazon’s trusted shopping experience. That’s where AI comes in.
aboutamazon.co.uk
Amazon Summer Bestsellers Review: 2024 Cross-Border E-Commerce Trends
As we embrace 2024, understanding the summer bestsellers on Amazon offers valuable insights for cross-border e-commerce strategies. This comprehensive review highlights the hottest summer products and provides detailed strategies for selecting and marketing these items effectively.
alibaba.com
Amazon AI-generated reviews update
Amazon introduced an AI-generated reviews feature in 2023 to help customers determine at a glance whether a product is right for them. The feature provides a short paragraph on the product detail page, highlighting shared positive, neutral, and negative opinions from customers about a product and its features. When shopping on either the web or the Amazon Shopping app, on product pages with reviews, click the five stars on the top right of the page.
channelx.world
Unleashing New Affiliate Opportunities: CJ and Amazon Sellers
The digital marketing landscape has just received a significant boost with the latest integration of Amazon Sellers into CJ’s affiliate network. This collaboration is poised to revolutionise the way publishers monetise their platforms, offering new avenues for revenue generation and enhanced marketing strategies.
affiversemedia.com
Amazon Global Selling in Singapore Launches First Cross-Border E-commerce Trend Report
28 June 2024 - Amazon Global Selling Singapore today released its 2024 Amazon Global Selling Trend Report titled "Fostering Entrepreneurship & Building Global Brands," detailing the opportunities in cross-border e-commerce (export e-commerce) for Singapore entrepreneurs, the performance highlights of local sellers on Amazon's stores and the inspiring stories of successful local entrepreneurs. According to the report, Singapore sellers maintained their momentum in 2023 and achieved double-digit sales growth on Amazon's international stores.
yahoo.com
Amazon sales come up short as consumers trade down
Amazon sales have fallen short of analyst forecasts for both the current quarter and the next as cautious consumers seek out cheaper products. For the second quarter ending June 30, 2024, the ecommerce giant’s net sales rose 10% year-over-year to $148bn. Online stores sales rose 5% in the second quarter to $55.4bn, compared with a 7% gain in the first quarter.
retailgazette.co.uk
Amazon slips after profit forecast disappoints on AI costs
Amazon.com Inc. projected profit that missed analysts’ estimates, ramping up its spending to meet demand for artificial intelligence services. The shares dropped in late trading. Chief Financial Officer Brian Olsavsky said Amazon spent $35 billion on capital expenditures such as data centers for its Amazon Web Services cloud unit in first half of year, and will increase that amount in the second half.
bnnbloomberg.ca
Tips and Tricks
How to Contact Amazon Seller Central Support
That inevitable time comes in every Amazon seller’s business when an issue can’t be resolved in Seller Central, or a solution can’t be found for a tricky product situation. For this, Amazon created Amazon Seller Support, a dedicated team with a system designed to help sellers with their queries and issues regarding every aspect of their business.
junglescout.com
17 Best Ways To Make Money on Amazon in 2024
You may know Amazon as the retail giant that seems to sell everything. What you may not know is that Amazon offers many other ways to make some extra cash. According to Oberlo, nearly 2 million sellers actively use the massive online marketplace. Sellers don’t even need to have their own products to bring in income.
yahoo.com
Top 5 Amazon Product Research Tools for 2024 Announced by Frucall
The rankings highlight the best tools to help Amazon sellers optimize their listings, manage their inventory, and enhance overall sales performance. The featured tools include Helium 10, Jungle Scout, AMZScout, Viral Launch, and SmartScout, each offering unique features and benefits.
einnews.com
5 winning tips for Indian D2C startups to build a global footprint with Amazon
When Tushar Khurana and Jatan Bawa, founders of oral care brand Perfora decided to pursue their global aspirations, one big learning was the importance of being flexible about their brand’s positioning in global markets. According to the Season 3 winners of Amazon's Propel Startup Accelerator, global markets require a good understanding of consumers and of why a product will sell well in competition with existing products. So, startups must give enough thought to make sure that their brand stands out against the competition.
aboutamazon.in
Podcasts
AI tools & Remote Management Strategies for Amazon Sellers
Join us as we welcome back Steve Simonson, a renowned expert on sourcing and leveraging AI technology for Amazon sellers. This episode is packed with insights on a wide range of topics, from managing remote teams to the innovative use of voice AI in customer service. Steve shares his experiences over the past year, highlighting the rapid advancements in AI technology and how his team has been integrating these updates into their processes. We also discuss effective strategies for managing remote teams, emphasizing the importance of building management skills, fostering online collaboration, and maintaining team morale through regular communication and celebrations.
helium10.com