What better way to motivate everyone on a Monday than to share how Amazon became the ecommerce giant it is today?
A video detailing Amazon’s journey implied the company Amazon pulled a lot of tricks in its sleeves to get to where it is today (and dodge some big hurdles). If you want to know more, you’re very much free to watch it.
Likewise, if you want to know more about the current happenings in the ecommerce scene, you’re very much free to read today’s issue.
- Amazon sellers vs. a massive fraud ring 🪐
- Two things that’ll maximize your Amazon gains 🌧️
- Create ready-to-use images with the new GenAI-powered feature📡
- Guide to a profitable Prime Day 📈
POST OF THE WEEK
BLACK MARKET
Want to know an interesting pattern? Fraudsters become more active when there’s an upcoming Amazon event.
An Amazon seller shared on Seller Central the unfortunate news of hijackers targeting their brand-registered listing—a few weeks before the tentative date of Prime Day 2024!
These sneaky fraudsters have thousands of units listed for resale. The problem is, OP hasn't even manufactured that many! 🤦
💸 A pricey discovery
OP decided to make test purchases worth $60,000 to investigate. Here's what they discovered:
- The packages show as delivered, but none of the orders are actually being shipped. The fraudsters are just uploading authentic tracking numbers that belong to other customers.
- Then, when the fraudsters ran out of tracking numbers, they reused them across multiple orders! Different sellers are even using the same tracking numbers. All sellers list the same address, which is a single UPS store with different unit numbers.
- Because the tracking numbers show as delivered, OP can't return any packages. So, they asked for help from customer service. But they've only been told to wait, with the issue being blamed on a "system glitch."
So, here they are, out tens of thousands of dollars while the scammers keep raking in sales.
🗣️ The community weighs in
Other sellers are in shock at the ingenuity (and nerve) of these scammers. This loophole is just one of the many they exploit to game the system.
The consensus? File a police report. Many believe that Amazon might not be much help here, so taking legal action could be the next best step.
Amazon forum operators have yet to join the discussion. In the meantime, keep an eye on your listings. This situation highlights a major flaw in the system, so you need to be extra vigilant.
TOGETHER WITH EZ-COMMERCE
Two things to find to maximize your Amazon gains
Amazon's vast marketplace promises financial freedom, passive income, and the ability to work from anywhere. However, the path to riches on the platform requires braving several difficulties.
The first of the obstacles is finding two crucial things to kickstart your Amazon journey: the right product and the right supplier.
Finding the right product
Doing this isn't as simple as picking an item you like or think others will want. The market is incredibly competitive—choosing the wrong product can make or break your Amazon business.
You need to consider:
- Extensive market research. Identify a niche with high demand but low competition by analyzing sales data, competition levels, and market trends.
- Profit margins. A popular product is no good if it’s not profitable.
- Trends vs. longevity. Find evergreen products that consistently sell over time rather than trendy ones.
- Legal and safety considerations. Some products, especially toys, electronics, and beauty products, are subject to strict regulations and safety standards. Make sure you can comply to avoid fines, product recalls, or legal actions.
Finding the right supplier
Once you've identified a promising product, the next challenge is finding a reliable supplier that offers:
- Excellent quality control. Conduct factory inspections and request samples to verify their quality control operations and credibility.
- Easy negotiation and communication, especially if they’re overseas. This includes securing written agreements for specifications, payment terms, and delivery schedules to avoid delays and errors in your orders.
- Proper lead times and inventory management. You don’t want stockouts or overstocking as these can significantly affect your margins.
- Smart cost management. The key is to balance competitive pricing and quality, which could require trial and error.
So, are you ready to get rich from Amazon?
The prospect of getting rich from selling on Amazon is undoubtedly appealing. To achieve this goal, you must have realistic expectations and a thorough understanding of the challenges involved—something EZ-commerce has.
Its founder, Dvir Cohen, knows very well that it’s not a get-rich-quick scheme. That’s why he’s willing to share the secret of becoming an eight-figure earner like himself (Hint: it involves PPC).
Want to know the secret?
Yes, I want the secret to success!
BITES OF THE WEEK
- Seller Weigh-In: What are the most important values that guide sellers’ business?"
- Sustainable Packaging: 95% of Amazon's 'plastic pillows' have been replaced with paper fillers.
- Europe Expansion: Amazon's generative AI listing tools are coming to Europe.
TECH MARKETING
The Image Generator tool allows you to create ready-to-use images instantly
ICYMI, Amazon launched the Image Generator tool last fall. This tool uses generative AI (GenAI) to easily turn your product images, descriptions, and customer reviews into engaging, ready-to-use images. 🖼️
Now, Amazon is taking this tool a step further with a brand-new feature: aspect ratio capability.
🆕 What’s new?
- Before: You could only create images in a 1.91:1 aspect ratio with 1200x628 resolution.
- Now: You can generate images in different dimensions and resolutions easily!
Creating engaging ad imagery is tough; tailoring it for different ad formats is even tougher. With the new aspect ratio feature of the Image Generator tool, you can now create engaging ads that fit any format.
But why use GenAI-powered tools?
For starters, GenAI makes creating quality ads easier and faster, which leads to a better shopping experience for customers. As Amazon Ads VP of product and technology Jay Richman says, "With generative AI, you don’t need to choose between quality and efficiency—you can have both."
🔆Exciting times are ahead with Amazon’s amazing tools at your fingertips! So, don’t forget to take advantage of these tools to improve your advertising strategy and attract more customers effortlessly.
ACTIONABLE ADVICE
How to have a profitable Prime Day
The exact dates for Prime Day 2024 still haven’t been announced—and it just builds up consumers’ anticipation and excitement. If you want to keep the hype up, now’s a good time to recap foolproof Prime Day strategies with E-Commerce Times.
📋 Play by play
The ecommerce website summed up Onramp’s Prime Day Playbook in these key points:
- Prime preparations. Sellers need to:
- Plan what type of ads they want to run during Prime Week, and
- Prepare inventory. Amazon sets deadlines on when to receive Prime Inventory and submit ad campaigns.
- How to nail this: Educate yourself on the different Amazon Ads types. And don’t forget to take advantage of Amazon restocking tools and software.
- Product picks and pricing. Prime Day is all about deals for shoppers. Choose your champion product and offer an attractive price for it.
- How to nail this: Utilize repricing software or try Amazon’s automated pricing to remain competitive. DO NOT undersell/underprice, and consider offering different deals (Lightning Deals, Prime Day Exclusive Deals, bundles, etc.)
- Customer engagement on and off Amazon.
- How to nail this: Spread the word through social media, email marketing, and other platforms. Use listing Optimization tools to optimize your listings and A+ content and grab Amazon shoppers’ attention.
Are you all set for Prime Day? 🫵
