ECOMMERCE NEWS
Starting January 31st, Buy with Prime, a feature previously only available by invitation, will now be accessible to US sellers. EcommerceBytes reported on how this service can help make online shopping easier for everyone.
- Quick delivery options: Conversion rates rose by an average of 25% when this payment method was made available. This increase is due to 1-2 day shipping, transparent delivery times, and easy returns.
- A surge of buyers: ‘Buy with Prime’ helps sellers generate traffic using ads that appear in relevant shopping results and remarketing campaigns through agency partners.
- Product reviews are synched: Reviews and ratings from your Amazon.com product listings are reflected on whichever site you place “Buy with Prime” on. This increases shopper trust and conversion.
📬 BigCommerce will also launch the Buy with Prime app in the first quarter of 2023. This partnership further extends the feature’s capabilities, catering to thousands of sellers who can use this with no coding required.
HOT TOPIC
FBA sellers will now get greater storage capacity
Many sellers heavily rely on Amazon FBA to fulfill orders and help alleviate a lot of grunt work. Unfortunately, some drawbacks include being at the mercy of their changing rules and policies.
Fluctuating storage spaces is a common issue for sellers, highlighted in this EcommerceByte article. Last October, Amazon significantly reduced storage limits, drawing flak from sellers due to the timing before the holidays- a critical season for restocking.
👀 Amazon's answer
Restock and Storage limits, are combined as "FBA capacity limits." to give sellers more control over managing their capacity.
📦 What's changing?
According to Dharmesh Mehta, Amazon's Vice President of Selling Partner Services, they have been working on systems designed to make inventory planning easier for sellers.
- Better reports: Capacity limits will be announced in the third whole week of each month. This will be accessible through Capacity Monitor in Seller Central and through email notifications. Limits are displayed in cubic volume to better represent the capacity so sellers can easily visualize it.
- Forecasting: Amazon will provide estimated limits for the following two months to help sellers plan ahead.
- Additional capacity: Sellers can request more space in storage warehouses by bidding for more. Requests will be approved objectively, favoring those with the highest reservation fee per cubic foot.
- Performance credits: Your selling performance can offset up to 100% of the reservation fee. So sellers don't have to pay for the additional capacity as long as their products sell.
The new capacity management system will be effective starting March 1, 2023.
BITES OF THE WEEK
- 10 growth hacks to win on Amazon in 2023 - Feedvisor
- This year’s top overseas Amazon seller conferences - Seller Engine
- A guide on how to become a Vendor on Amazon - Sage Seller
- Amazon may have more robot employees than humans in the future - Interesting Engineering
CASH CORNER
Gauge product revenue estimates with the Amazon FBA calculator
Countless opportunities exist when selling on Amazon, but the trick is figuring out which ones work and which don't.
Measuring potential wins and losses through an FBA calculator can help alleviate a lot of the guesswork when proposing new products and identifying how changing prices or adjusting production costs can affect your margins.
💵 Here's how to use this tool:
- Look for a free Amazon FBA calculator.
- Enter the AMZ ASIN of the item whose sales you're interested in tracking. You'll find the ASIN (combination of 10 digits and characters) on the product listing URL.
- You'll see the percentage of your item's selling fees and FBA fulfillment costs.
- From this, you can determine your price points and margins to ensure a healthy profit for your business.
SELLER REFRESHER
How to use negative product reviews in your favor
Ever received a negative review? Don't worry. You're not alone. How you manage these types of reviews is critical to keeping them from becoming discouraging or detrimental.
⭐ Here's how to turn around bad reviews, according to Sage Seller:
- Respond by acknowledging your customers' experience. Address the concern and offer a solution to make up for any inconveniences.
- Win potential customers' favor by giving value to every perspective and posting it publicly using the Feedback Manager.
- Hold Amazon accountable for a late shipment or damaged box feedback.
- Report feedback that contains abusive and irrelevant content, along with those that don't follow Amazon's rules.
- Reduce damage by explaining what happened to help provide shoppers with a well-rounded understanding of all perspectives.
Remember, reviews are a double-edged sword. It can help make or break your business, so paying close attention to how you handle them is vital!
