ECOMMERCE NEWS
A Retail Gazette article raises the question that's on the minds of many: As post-pandemic shopping habits settle, has the ecommerce bubble burst?
🛍️ We're shopping differently
- A report estimated that almost half (49.7%) of total non-food retail sales will be made via ecommerce by 2025 because more people are working from home. As of December 2022, almost 30% of paid work days happened at home, a considerable difference from the 5% pre-pandemic.
- Grocery delivery provides the convenience of filling pantries without leaving home.
- Several major retailers went out of business in 2022, and over 15,000 high-street stores are expected to close in 2023.
- Digital experiences have a major influence on purchasing decisions.
- There's a significant shift seen in customer behavior. Forbes reported that many consumers are now turning to the web instead of physical stores when looking for new products.
🛒 What's in store for ecommerce?
We have yet to see the full effect of changing customer demand and behavior, but with the ever-increasing need for convenience, it's safe to say that ecommerce is here to stay for the long haul.
HOT TOPIC
Say goodbye to anonymity on Amazon Seller Forums
Anonymity (or, in this context, posting and commenting with an alias) on the seller forums won't be possible after an Amazon update that's drawing flak from many sellers.
As of right now, only the name listed for Global Accounts is what gets displayed in the forums. The update changes this by showing your display name next to posts and replies, as well as your storefront and Global Account names on the Seller Forums profile.
📝 Benefits?
- Since the selling community is expanding, sellers could benefit from the transparency and trust between one another.
- The ability to connect opens up opportunities for learning experiences.
👀 What's the issue?
Some are looking to deactivate their accounts concerned about the information that could become publicly available. Other sellers are opting to start fresh by creating a new Seller Forums account under a new display name.
The forums were valuable as an anonymous space to air concerns with valid discussions. Many feel that their reputations and accounts could be at risk with the upcoming visibility Amazon is applying to this community.
While some valid points exist, it's possible that seller participation will be reduced due to the lack of comfortability in sharing their sentiments so publicly.
BITES OF THE WEEK
- Key dates for ecommerce businesses to know: Your 2023 calendar - JungleScout
- How long should I wait for Amazon to reimburse missing Inventory? - Fulfillment by Amazon on Reddit
- Ecommerce sees record declines in December – and 2022: IMRG - Internet Retailing
- This genius move by Amazon could be bad news for Shopify and PayPal - Fool
BLACK MARKET
Seller receives a suspension for 7 months despite being on the marketplace for 20 years
After selling on Amazon for 20 years, you'd think a suspension unresolved for this long would be unlikely. Ed Rosenberg highlights a seller whose seller account has been out of commission for 7 months.
- Twitter user @Ezra_Gorin's seller account was deactivated seven months ago due to a bogus claim of selling two counterfeit items.
- Their attorney's advice was followed by submitting a detailed plan of action, with no response from the Amazon team.
- People offered help and advice as they are continuously disappointed after discovering the lack of improvements on Amazon's end
ASGTG quoted OP's tweet, eliciting a response from Amazon Seller Help: "looking at the communications since our initial escalation on your behalf, we agree you've been provided contradicting advice. We will get this in for another account review this week and advise the next steps via the email tied to your account."
A reason to be optimistic, at last?
SELLER REFRESHER
Still dealing with leftovers? Here are 4 ways to reduce excess inventory from the holidays
If you're still dealing with the leftover inventory from the holiday season, don’t worry, you’re not alone.
Here are four ways to cut the excess inventory in the next holiday season according to Retail TouchPoints.
- Don’t stick to one sales funnel. Branching out your sales channels allows you to reach a wider and more diverse audience. More customers, less inventory to store.
- Customer retention is king, especially when it’s difficult to predict customer behavior. Repeat customers are 5 to 25 times cheaper than gaining a new one, after all.
- Establishing strong communication channels with your suppliers is vital to avoid insufficient or excess supply.
- Clarify terms with your suppliers, especially on the smallest order quantity required, so you won’t need to overstock to have inventory.
By freeing up capital and managing stock wisely, you can invest more toward opportunities that will help drive growth.
