Good Morning and congratulations to all the athletes representing their countries in the Olympics! With all the excitement going on, we can't help but wonder, what activities would be in the Amazon Olympics? Most shipments sent to FC? Fastest Delivery Time? Clearest Main Image? And the Best Seller Badge goes to...?
In other news:
Amazon shut down a handful of Chinese retailers from the Shenzhen Youkeshu Technology operations, and it resulted in the closures of 340 online stores, 30% of their presence on Amazon, and $20.08m in funds frozen. Shutdowns come in after investigations revealing that their actions violated Amazon's guidelines regarding review manipulation.
With increasing issues revolving around fake reviews, Amazon is ramping up its take-down initiatives to reduce the concern. But, unfortunately, fake reviews are still ever influencing shoppers' decision-making on the e-commerce platform. As a result, multiple outside organizations are chiming in and adding pressure for Amazon to take more action.
Discussions surrounding the 340-store shutdown include many relieved sellers who are eagerly eyeing the opportunity to take a piece of this market now that big-time sellers are gradually making their way out. However, there's still a long way to go—the number of stores that were closed only represented 30% of their presence on Amazon.
Amazon has indeed recently made significant strides in its strategy to eliminate fake reviews on the platform, including Amazon Project Zero, but the battle isn't over yet folks, keep your eyes peeled; there's more to come.
Alibaba is on the move, and they're moving quickly. Recently, the Chinese-based e-commerce giant made the statement for plans to introduce 72-hour shipping as part of their platform offerings. But, of course, faster, cheaper, worldwide shipping earns your brownie points in this world, and Alibaba isn't afraid to show off its incredible logistics capabilities.
Although these plans are not yet in action, this upcoming service does present a concerning threat to Amazon and Amazon sellers alike. Their operations are already becoming increasingly threatened by Alibaba and its well-structured logistics machine. And when it comes to production, Alibaba is already in a prime location to source and sell at much lesser costs giving them the upper hand.
How worried should sellers be? Regardless of whether Alibaba can succeed in its plans for 72-hour shipping or not, Amazon is still a significant player in this race. Sellers using any one of these selling platforms should always be on-the-ready to protect their brands. These tech giants are powerful and unpredictable, so anticipating future changes and preparing for different possible outcomes is critical!
Are you struggling to win the Buy Box in 2021? With the increasing number of competitors on the platform these days, it can almost feel impossible to give your products the opportunity it deserves. There are multiple strategies to winning the Buy Box, so it's essential to be aware of the key factors that influence your chances:
While the market is evolving and the competition is getting fierce, using these factors as a basis to win the Buy Box will ultimately put you in the right direction towards a better chance of succeeding on Amazon.