Monday announcement: You can now submit your deals for the upcoming Amazon Labor Day sale from August 26 to September 3, 2024! If you plan to participate, here’s a step-by-step guide on how to submit your offers.
Reminders aside, why don’t we start the week with some juicy scoops?
- Amazon’s mistake 🫷
- The perfect tip for finding profitable items to sell 🗃️
- Hacks to keep healthy Amazon listings 💡
POST OF THE WEEK
HOT TOPIC
ICYMI, Amazon recently announced plans for a low-priced store to compete with Shein and Temu. This storefront will be exclusive to China-based sellers. Like in Temu, they can ship to U.S. buyers while keeping the costs down.
However, ecommerce experts aren’t impressed. In fact, they’re criticizing it, as reported by Practical Ecommerce.
🧑🏫 What do the industry pros say?
- It’s a bad idea. Phil Masiello, CEO of CrunchGrowth Revenue Acceleration Agency, believes Amazon is making a mistake. This move will only anger brands and quality sellers who are already dealing with the increasing fees.
- It’s catering to the competition. Rick Wilson, CEO of Miva, says “Amazon made a deal with the devil” by inviting the competition into their home. Wilson observed that Amazon’s aggressive pursuit of inexpensive overseas manufacturers risks turning them into consumer brands themselves.
- It’s not worth it. Others voiced their concerns about the issue, stating there was no way to compete. Revenue will not be as high and won’t be sustainable for small businesses.
✨ A glimmer of hope
Thomson noted that Temu and Shein's products are “spontaneous purchases.” Very few go to these platforms thinking of their needs. Masiello also stated that some buyers will not be long-term Temu customers as Amazon is still the first choice for shoppers looking for something.
This means brands can still thrive if they focus on quality and loyalty. Maybe it’s time to halt the price wars that affect non-U.S. and U.S. sellers and instead concentrate on creating products of value. After all, quality will always be in demand.
TOGETHER WITH SMARTSCOUT
How to find quickly find profitable items to sell on Amazon
Selling on Amazon is overwhelming enough. But what they don’t tell you is how equally overwhelming tools for sellers are!
Of all the recommended tools out there, which should you invest in?
As a new Amazon seller, we recommend SmartScout. It’s the perfect tool to have, especially if you haven’t done your product research yet. This is the first step to selling on the platform, so if you have a trusty tool for that, then everything else will follow.
What can you do with SmartScout?
- Explore all Amazon’s categories instantly
Imagine being able to explore all 25,000 subcategories on Amazon without hassle. Well, SmartScout makes this possible with its easy-to-use file directory system. It allows you to quickly analyze products and brands in related subcategories, enabling you to find the most profitable categories to sell in.
- Get realistic estimates with the Amazon FBA calculator
Amazon handling order fulfillment for you is a big burden off your shoulders. But have you ever felt like FBA fees are holding you back? This tool gives you a crystal-clear view of those fees. Make sure that you’re not overpaying for FBA services and maximize your earnings with the FBA calculator!
- Know the “frequently” profitable items
SmartScout’s Traffic Graph feature reverse-engineers Amazon’s recommendation engine to help you understand competitor traffic. Moreover, you can use it to identify "frequently bought together" products and locate the best ad spots.
- Scrutinize a product’s true potential with a UPC Scanner
This tool eliminates the tedious task of analyzing products one by one. You can import entire product lists with an Excel file and instantly identify the most profitable items.
- Bonus: User-friendly Interface
SmartScout stands out with its simple yet sophisticated design, enhancing the user experience. This design choice ensures seamless navigation, allowing users to focus more on extracting insights from the data rather than wrestling with the interface.
We’re making it even better for you!
SmartScout has partnered with SellerBites to give you a 25% DISCOUNT for the FIRST 3 MONTHS. See how you can use their services to your advantage.
Click on the link below to claim your 25% discount!
Make my product research easier
BITES OF THE WEEK
- Keys to Ignition: 3 key initiatives are the driving force behind Amazon's record-breaking delivery speeds.
- Measuring Engagement: Know the different customer engagement metrics that you'll need for brand growth.
- Webinar Wednesday: Amazon's live webinars to grow your business continue with Buy with Prime.
- AI in Manufacturing: AI assists manufacturers in finding and addressing issues faster and more efficiently.
SELLER REFRESHER
6 hacks to keep your Amazon listings healthy
Did you know Amazon holds nearly 38% of the U.S. ecommerce market share?
With such a massive audience, keeping your Amazon listings in top shape is super important. According to intelliRANK, healthy listings not only draw in customers but also tell Amazon’s algorithm that you’re a trustworthy seller. This means more visibility and better sales for you!
📜 Tips for healthy listings
- Keep information accurate. Regularly update your listings. Check prices, stock, and descriptions to make sure they’re correct.
- Follow Amazon’s listing guidelines to keep your listings consistent and avoid issues.
- Watch your metrics. Use Amazon Seller Central to track your performance and check for areas to improve.
- Engage with reviews. Respond to customer reviews—both good and bad. Thank them for the positives and address any negatives quickly.
- Price competitively. Check out your competition and set prices that attract buyers without cutting into your profits.
- Manage inventory well. Keep enough stock to avoid running out. This keeps customers happy and your account in good health.
By following these tips, you're not just maintaining your listings; you're building a brand that customers trust and Amazon rewards. So, polish those listings and watch your sales soar! 🚀
