Because weāre feeling a little nostalgic, letās have a #ThrowbackThursday before we dive into the holiday excitement. Today, weāre looking back at Q3 news, updates, and trends that deserve a spotlight. š
After all, it doesnāt hurt to take a second look. You might find valuable insights and selling inspirations that could boost your business for the holidays.
- Top 5 Amazon news in Q3 āļø
- Amazon marketplace highlights šØ
- Top 5 Amazon trends in Q3 š
- Notable trends and improvements š
AMAZON NEWS
Can you believe weāre already stepping into the final quarter of the year?
As Q3 comes to a close, Amazon has kept everyone on their toes with some bold, headline-making moves. From game-changing innovations to surprise announcements, there's never a dull moment in this jungle!
ā°ļø Letās take a look at the biggest headlines that shook the Amazon ecosystem!
- Amazon shared its plan to launch a low-cost storefront to compete with Shein and Temu, offering unbranded products from Chinese sellers. While this keeps Amazon competitive, it's raised concerns about potential challenges for U.S.-based sellers. š
- Prime Day 2024 broke records, with Day 1 hitting $7.2 billion, up 11.7% from last year. Mobile shopping contributed $3.5 billion, and total sales exceeded $14.2 billion.
- Prime Day 2024 sold over 200 million items, averaging $57.98 per order from small and medium businesses. Other marketplaces also saw a spike, with $7 billion in sales outside Amazon on Day 2.
- Amazon launched a quicker reimbursement policy for sellers, which automates most claims for lost, damaged inventory, and customer returns. New eligibility windows for manual claims will take effect on October 23, and automated reimbursements will begin on November 1. ā±ļø
- Amazon has expanded its "Grade and Resell" option to all FBA sellers. This allows sellers to resell returned items in good condition, even if they've been opened or slightly used.
āļø Tip of the iceberg
So much has happened in just three months, and these are just a few of the most headline-worthy news. But donāt worryāweāll continue looking for the freshest news and changes to help you navigate the worldās largest online marketplace.
HONORABLE MENTIONS
š Honorable mentions: Marketplace highlights
- Still on the Lead. Amazon remains the leading ecommerce marketplace, but Shein, Temu, and TikTok Shop are growing quickly.
- Beating the Clock. On September 25, 2024, Amazon raised its OTDR requirements to 90% for seller-fulfilled orders.
- So-so Prime Day. Millennials showed less interest in Prime Day 2024, with a 1.3% decline in spending and a 4.4% drop in the number of shoppers.
- Sellersā Cents. Following Ed Rosenbergās sentencing, sellers expressed concerns about the platform's practices and the challenges they face with suspensions.
- Unparalleled Growth. Amazon's 3PL business has grown by 70% from off-Amazon sales channels this year.
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TRENDING TOPIC
The major trends that dominated the Amazon marketplace in Q3 2024
Aside from Amazon news and updates, Q3 served up some pretty fascinating trends that are definitely worth checking out. Letās dive into some of the key happenings from the last quarter and see what they mean for you moving forward. š
- Sellers eagerly await major shopping events like Amazon's Prime Day for the chance of big sales. However, many fall short of their goals due to common mistakes, such as poor inventory management and pricing issues. šļø
- Artificial intelligence has taken center stage, revolutionizing the traditional operational processes of ecommerce.
- Influencer brands are shaking things up by using organic marketing and engaging with their communities to build loyalty. Meanwhile, established big brands still hold an advantage with their vast resources, making the competition fierce.
- Amazon has introduced Project Amelia, a generative AI-based selling assistant designed to provide personalized answers and real-time performance updates for sellers. Currently in beta, Amelia is already available to select U.S. sellers. š¤
- MarTech is all about the tools and software that help boost your marketing game. For Amazon sellers like you, it means simplifying your marketing, building better customer connections, and using data to grow your business.
From AI innovations to the rise of influencer brands, there's plenty for sellers to adapt to and leverage. As we move into the final quarter of 2024, keep an eye on these trends to maximize the holiday shopping season and beyond. ā¾ļø
HONORABLE MENTIONS
š Honorable mentions: Notable trends and improvements
- Most Popular Award. According to Statista, Amazon is popular across all generations.
- #StrongAndIndependent. Prime Day was a success for independent sellers, who sold more than 200 million items!
- Mixed Emotions. Sellers have mixed opinions toward Amazon inbound fees: itās good for high-volume sellers, but it also allows for different (possible) penalties.
- Better Landing. Amazon rolled out a new Sponsored Display ad type that allows you to redirect shoppers to your website.
- Louder Voice of Customers: Amazon updated its Voice of the Customer dashboard to let you track your product performance with new metrics and translated feedback.
Did we miss something? Let us know if you have more recommended highlights by replying to this email! āļø
