Did you know retail ecommerce hit $5.8 trillion in 2023? That’s the result of the combined efforts of sellers, retailers, suppliers, and—most importantly—consumers.
But of course, there’s always room for more, which can be opened by the updates and selling strategies we compiled for you today:
- Amazon’s new coupon pricing criteria 🏷️
- Sell on Walmart Marketplace—sell big, save big 🛍️
- How to maximize small orders 🤏
- Sell groceries on Amazon 🧺
POST OF THE WEEK
AMAZON NEWS
Starting March 12, 2024, Amazon is tightening the reins on coupon offers. As per the new rule on coupon pricing, a product must have a sales history to be eligible for a coupon, Additionally, the promotion price must be lower than either the "was price" or the recent lowest price.
Here’s what else you need to know about the new eligibility criteria, as reported by eCommerceBytes:
Why the change?
Amazon isn't directly pointing to the Federal Trade Commission (FTC) as the reason. However, it's clear they're aiming for transparency (and getting on the FTC's good side). 👼
ICYDK, the FTC has rules against deceptive pricing practices. This protects customers from inflated "former prices" used to make promotions seem legitimate. Amazon, with this new policy, seems to align with that.
✅ The fine print
If you receive a coupon error message, it means your price or product didn't meet the requirements. The solution depends on the issue that caused the error:
- Price history issue: Sell more to build that “was price” history.
- Price issue: Ensure your promotion price is lower than the “was price” or the recent lowest price.
- Minimum/maximum discount issue: Adjust your discount percentage within 5% to 50%.
Tip: Keep in mind that Amazon still charges a 60¢ fee when shoppers redeem a coupon even if they don’t buy an item. 📍
Do sellers love it or hate it?
As with any change, opinions are mixed. Some sellers feel like Amazon is just finding another way to squeeze them. Others are relieved, saying it’s about time scammers trying to pass off regular prices as discounts got the boot.
What are your thoughts on this new policy change?
TOGETHER WITH WALMART MARKETPLACE
Sell Big, Save Big: Launch your business on Walmart Marketplace
Tired of limited reach and high fees?
It's time to tap into millions of eager customers with Walmart Marketplace!
For a limited time, new sellers on Walmart Marketplace get:
- Up to 50% off on referral fees for three months;
- Up to 50% off on Walmart Fulfillment Services*; and
- Instant access to powerful sales tools like advertising and competitive pricing!
Be the next success story on Walmart.com!
How did Miko grow by 115% GMV in just one year?*
By leveraging the 2-day shipping of Walmart Fulfillment Services to increase GMV by 1573%* on items that did not previously have 2-day shipping!
Ready to be the next Miko? Start selling now and get up to 50% off on referral and fulfillment fees.**
Unlike other platforms, Walmart Marketplace offers:
- ZERO monthly or setup fees
- Unmatched transparency—clear, competitive fees with no hidden costs.
- The unique omnichannel advantage that lets you tap into millions of customers across their online and physical stores.
Sign up today and claim your exclusive savings!
*Source: Walmart first-party data, 2021-22
BITES OF THE WEEK
- Amazon vs. Scams: Amazon shares its plans on how to fight scammers more effectively.
- Target Circle 360: Following Amazon and Walmart, Target is launching its paid membership program.
- Tech Tug-of-War: Walmart and Amazon have a new battle theme: AI.
- Cofeeng Mechanism: Here’s how you can work around Amazon FBA fee changes to make sure your business survives.
TRENDING TOPIC
How to maximize small orders
Selling on Amazon or any other ecommerce platform is a mix of strategy, creativity, and luck. Of course, there would be slow days, which gets us to the concept of low average order value (AOV).
AOV refers to the revenue you earn per sale; a low AOV means a sale brings in a small profit. As put by BigCommerce, it’s one of the biggest challenges brands can face.
❓ But why does this happen?
Some of the key factors that affect AOV include:
- Industry and product category
- Buyer’s preferences
- Seasonal changes
- Pricing structure
- Customer retention
As you can see, some of these factors aren’t fully controllable. Fortunately, there are several strategies to increase your AOV.
- Sell smart. Offer bundles based on what sells and what shoppers prefer. Don’t just throw random stuff together. Try upselling your best products or cross-selling related products.
- Allow them to save. The best example—free delivery upon reaching a target order value. Or, you can hold occasional; sales events and/or offer discounts for when the order quantity reaches a certain number.
- Price right. Find the balance between the value of your product and what customers are willing to pay.
- Tip: Perform competitive pricing analysis to see the industry average price of goods.
Other tactics that’ll allow you to do more with less include rewarding customers (such as via loyalty programs) and leveraging emerging technologies. Remember, multiple small orders can still make a big sale. 💡
SELLER REFRESHER
How to sell groceries on Amazon in 2024
When it comes to selling products on Amazon, most sellers flock to popular categories, like Home & Kitchen. But there's a hidden gem often overlooked: Grocery.
According to Jungle Scout, more shoppers are buying their groceries on online platforms like Amazon. If you want to explore this niche, here are 3 ways to sell in the Grocery category:
- Retail arbitrage. Find profitable products in local stores like Walmart or Target and resell them on Amazon.
- Wholesale. Partner with authorized distributors to sell name-brand grocery items.
- Private label. Create your own brand of grocery products (while adhering to local and federal food regulations, of course!).
✅ How to get approved
For new sellers, getting approval to sell groceries on Amazon is a necessary step. Here's what you need to do:
- Get ungated. Provide Amazon with documents, such as purchase invoices, to prove you’re a legitimate seller.
- Find a wholesale distributor. Choose a reliable (well-known, if possible) distributor to obtain an acceptable invoice for Amazon.
- Know AND follow Amazon’s guidelines:
- Seller performance: Order defect rate, pre-fulfillment cancel rate, and late shipment rate should be as low as possible.
- Product requirements. Products must be properly prepared, labeled, packed, and sealed, especially if you’re selling meltable items and chilled or frozen products.
By selling groceries on Amazon, you can help people find what they need and make good money too! So, are you ready to start selling?💰
