As we move forward to the year, the ecommerce industry inches toward a progressive but aggressive environment. So, we started digging into more statistics to give you the first look at the information that’ll help your business bloom this spring season:
- Big Spring Sale🌼
- Your success story on Walmart Marketplace 🖊️
- High-demand, low-competition products on Amazon 🔍
- Optimizing the checkout process 🖱️
POST OF THE WEEK
BIG IDEA
Prime Day is one of the most anticipated events in the Amazon universe. Come July of every year, big savings wait for buyers— and big profits wave to sellers.
And while we’re still months away from Prime Day, Amazon decided to bring in a surprise—the Big Spring Sale! If you’re wondering how this brand-new event compares to Prime Day, here’s what SheKnows has to say about it:
🌸 Prime Day in spring?
Running from March 20 to 25, 2024, shoppers and sellers can’t help but think of Amazon’s Big Spring Sale as the spring version of Prime Day. Why?
- Prime Day-level deals are available to EVERYONE. But of course, Amazon offers more exclusive deals to Prime members.
- With discounts that reach up to 50%, it’s an excellent opportunity for you to clear out old stocks while teasing customers about future Prime Day offers. 💡
- Just like Prime Day, Big Spring Sale may contribute billions of dollars toward the retail giant’s revenue.
But Prime Day is still the ‘prime’ Amazon event
Although the spring sale event is like a breath of fresh air, it’s still just a teaser to the grand July Prime Day. Speaking of which, Amazon made a discreet announcement for those who want to participate in the latter.
The company hasn’t revealed the dates for Prime Day 2024 yet, but if you plan to sell at the event, you need to submit your deals on or before May 3, 2024. 📌
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
- Accelerate-ing Soon: Amazon just announced the return of Amazon Accelerate conference this September 2024.
- It Takes Two: Starting March 28, two-factor authentication is required in Seller Central.
- Seller Ledger: There’s a new accounting software that connects directly with ecommerce platforms (Amazon) and banks.
- Under Investigation: FCC is probing ecommerce platforms for alleged selling of jamming equipment.
- Interesting Purchases: What strange and wonderful things are people buying these days?
TRENDING TOPIC
Top Amazon product categories with high demand and low competition
As the largest online marketplace, Amazon provides a great chance to earn fat checks even in the comfort of your home. But selling on the platform doesn’t guarantee that your business will be profitable—unless you find the right product to sell.
📈 By this, we mean products with high demand AND low competition. According to AMZScout, the categories with high product demand include:
- Clothing and Accessories (dinosaur slippers,
- Electronics
- Books
- Home and Kitchen (dry soup mix, wicker basket, and drink holder for sofa)
- Pet Supplies
- Beauty and Personal Care (foaming soap tablets, organic face powder, cluster lashes kit, and zero-waste deodorant)
- Toys and Games (toddler golf set and kid play tent)
Not selling in these categories?
Don’t worry, you can find the right product to sell in simple steps:
- Do your product research. Use product research tools to easily monitor product and demand trends.
- Visit the Amazon Best Sellers Page to view all the highest-selling products. Do note that the page doesn’t display the sales number so be smart when evaluating the potential demand for a listed product. 🔍
- Attend online webinars. In most cases, the webinars are led by the most successful Amazon sellers. Who can better lecture you on finding the right products than them, right?
How do you plan on growing your FBA business? Will you sell in the listed categories above or find your own? Let us know your strategy by replying to this email! ✉️
ACTIONABLE ADVICE
How to optimize your checkout process
The FBA hustle doesn’t stop with finding a high-demand, low-competition product to sell. You still have to convince buyers to check out your product. And Bazaarvoice knows how you can do this—by simplifying your checkout process!
✔️ Check your checkout
Before everything, you must evaluate your current checkout process. You can use surveys or feedback forms to gather customers’ insights.
If you notice some negative opinions, you have some optimizations to do:
- Set relevant objectives. Much better if you could make it as specific as possible, such as “to reduce checkout time by 15 mins.” Find out what factors drive customers to checkout items (hint: shorter time for the checkout process!)
- Turn the objectives into actions by making the necessary adjustments in your checkout process. Start with the simple issues (like rearranging buttons on the checkout page for a smoother flow) and work your way to the complex ones.
- Monitor and improve. Customer behavior and preferences change, so make sure your systems and processes can adapt well. After all, some improvements may still need tweaking to achieve the optimal results.
Bonus tip: Don’t stop at checkout
A complicated checkout process drives 17% of customers to abandon their carts. But you’ll lose a lot more—38% to be exact—if your website is unattractive. 👎
So, don’t neglect the content and layout of your entire ecommerce site. Make sure everything is in the right place to surely snatch those sales.
