AMAZON NEWS
2023's had a lot going on for FBA sellers like you. There were fee changes, controversies, and advancements. But with these, it leads us to ask: what will 2024 look like for FBA sellers?
Thankfully, it's not that hard to say. ePlaybooks shared the FBA trends and predictions for sellers next year, and here are some of them:
1. Expect more of AI and AR/VR
Since the release of ChatGPT and Open AI in 2022, companies and businesses are incorporating this into their strategies. That includes Amazon sellers who use AI to streamline their business activities and common FBA tasks.
Expect that AI will continuously be incorporated through:
- Customer service handling
- Analysis of market trends
- Optimize product listings
- Product inventory management and tracking
The same goes for augmented and virtual reality (AR/VR) technology.
Sellers in product categories like apparel, furniture, and home and garden will use AR and VR to provide a stronger shopping experience for their consumers. Utilizing this technology can further increase sales and conversions.
2. Integration between social media and ecommerce
Social media and ecommerce go hand in hand. This will extend further into 2024. Aside from the usual social media platforms (Instagram and X), TikTok Shop and Facebook Marketplace will be on the rise next year.
3. Popularization of video content
Sellers will prioritize adding video content to their product listings and ads. They'll also use this to feature customer testimonials and tell brand stories.
4. More personalized marketing
AI-generated content may be prevalent in 2024. But that doesn't mean your marketing materials should be generic or should sound like they're AI-generated. Shoppers still love content made just for them!
The list is filled with advancements. If you're an Amazon FBA seller, it's best to learn how to adapt to these changes before everyone else uses them to get ahead of you!
BITES OF THE WEEK
- Marketing Recap: Here’s a rewind of the most outstanding marketing campaigns of 2023.
- Courting China: Amazon attends China's annual conference for sellers to snatch some from Shein and Temu.
- Experiments Expanded: You can now A/B test Brand Story content for cross-selling opportunities.
- Keep It: Sellers are choosing "no returns" when return shipping exceeds products' value.
- Building Bridges: Social commerce connected sellers and buyers in profitable ways.
SOCIAL PULSE
Gen Z are the top spenders on social media for 2023
If you've seen aesthetically pleasing posts on Instagram, they're most likely done by Gen Z. These are not stereotypes or anything, but it’s only because they made their mark on social media.
Key insights from the PYMNTS and Amazon Web Services collaboration showed some key insights on Gen Z social media usage are as follows:
- 68% of Gen Z consumers searched for products on social media (40% of which prefer using Instagram or TikTok over Google to explore brands), and 22% of them ultimately completed a purchase
- 75% of Gen Z consumers plan to make purchases on social media
- Instagram and TikTok are the go-to social networks for browsing and purchasing products
- Apparel and beauty products are the most sought-after categories
- On average, Gen Z shoppers buy 4 items but of higher value in each purchase. They spend an average of $28.5 per item versus $20.4 for millennials.
- Gen Zs love discounts and promotions! They also prefer quick shipping options.
Make room for your Gen Z shoppers
Consider all of these and see how the demographics work for you. If you don't have a lot of Gen Z customers, it's still a great idea to consider them when setting up vouchers and discounts.
SELLER REFRESHER
Is your ecommerce store still not taking off? Here’s why
Is your online store not performing as well as you’d like? Well, TechBullion has an idea as to what problems you may be experiencing:
- Lack of branding: We’re talking beyond logo and aesthetics—your identity as a business. If you fail to show your brand’s voice and personality, you’ll also fail to thrive and attract new customers.
- How to solve: Take advantage of Amazon Brand Story. You can also get help by hiring brand agencies.
- Non-optimized website and SEO content: Your website is the best way to showcase your brand and products. It should be easy-to-navigate and clear for your visitors. Keyword stuffing is no good.
- How to solve: Design your website with the end user in mind and make sure your content is informative and accurate. And avoid keyword stuffing!
- Lackluster product selection: While sticking to a niche is productive, having an underwhelming assortment of goods isn’t good for sales. You better check if your catalog is still interesting.
- How to solve: If adding new items isn’t an option, try spicing up your offers by adding lifestyle shots. You can also add social proof or collaborate with other businesses.
🚩 Other warning signs (and how to solve them)
You should also check for unsatisfactory customer support, confused pricing, poor marketing, and lengthy checkout process. Fortunately, AI and seller tools can help with these.
But if you want to solve any problem at the root, go back to the main principle of ecommerce—convenience. And then aim to give your customers that.
