Amazon FBA News Update for October and November 2023 📰
Are you feeling left behind in the Amazon FBA world? Do you struggle to keep up with all the news and updates? Well, fear not! In this article, we will catch you up on all the latest news and updates for Amazon FBA in October and November 2023. From price fixing to AI advancements, we've got you covered. So, sit back, relax, and let's dive into the world of Amazon FBA.
Price Fixing: Amazon Marketplace Sellers Fined Nearly $795,000 💰
Let's start with a piece of news that caught our attention. Five Amazon Marketplace sellers were fined nearly $795,000 for price fixing in East Tennessee district court. These sellers colluded with each other to keep their prices high, essentially owning the market and preventing others from selling at a lower price. This is considered price fixing, which is a federal crime. These sellers are now facing prison time and hefty fines. This serves as a reminder to always do your research and avoid anything that seems fishy or greedy.
Coupon News: Improved Targeting for Reordering Customers 🎟️
Moving on to coupon news, Amazon has improved its targeting for reordering customers. Previously, coupons were set for first-time customers only. Now, coupons can be set for reordered customers as well. This means that customers can receive more incentives to check out, such as a 5% discount for reordering. This is a great way to increase customer loyalty and encourage repeat business.
Amazon and Anthropic Announce Collaboration to Advance Generative AI 🤖
Amazon has invested about $400 million into Anthropic, a company focused on advancing generative AI. This investment will likely benefit Amazon's AWS software, but it could also trickle down to Amazon in general. This is not surprising, as many big companies are investing in AI. This investment could lead to exciting advancements in the future.
Amazon Accelerate Takeaway: Supply Chain by Amazon Announced 🚚
At Amazon Accelerate, Supply Chain by Amazon was announced. Amazon is trying to control sellers' freight forwarding and logistics services. This could lead to discounts for sellers, as Amazon has buying power. However, some sellers prefer to be in control of their own freight supply. This is something to keep an eye on in the future.
New and Improved Tools for Sellers and Shoppers 🛍️
Amazon has announced new and improved tools for sellers and shoppers. One of these tools is viewing your room, which uses augmented reality to let shoppers view how certain items will look in their actual living spaces. Another tool is the fits insights tool, which uses AI to analyze product reviews, size charts, and customer feedback to suggest changes to your fitting chart. This is a great way to improve the customer experience and increase customer satisfaction.
Federal Trade Commission Sues Amazon for Being a Monopoly 🏛️
The Federal Trade Commission has sued Amazon for being a monopoly against private label sellers. This could lead to changes that benefit private label sellers, such as lower fees. However, this is a neutral win for now, and it's best to focus on your own products and brand.
Increase Fulfillment Fees Begin October 15th and End January 24th 📈
Every Q4, Amazon increases its prices. This year, the increase in fulfillment fees begins on October 15th and ends on January 24th. Make sure you are aware of these changes and adjust your pricing accordingly.
Prime Day Takes Place October 10th and 11th 🎉
Prime Day has already passed, but it was a big success for Amazon. Black Friday and Cyber Monday are coming up, so make sure you are prepared. Get your inventory in and check for any deals you can offer.
South America: The New China? 🌎
With tensions between the US and China, prices are rising in China. This has led to a shift towards South America, with Mexico officially overtaking China as the US's top trade partner. Brazil is also growing rapidly. Keep an eye on this shift, as it could lead to new opportunities for sourcing products.
Highlights 🌟
- Amazon Marketplace sellers fined nearly $795,000 for price fixing
- Improved targeting for reordering customers with coupons
- Amazon invests $400 million in Anthropic to advance generative AI
- Supply Chain by Amazon announced at Amazon Accelerate
- New and improved tools for sellers and shoppers, including viewing your room and fits insights
- Federal Trade Commission sues Amazon for being a monopoly against private label sellers
- Increase in fulfillment fees from October 15th to January 24th
- Prime Day took place on October 10th and 11th
- South America is becoming a new source for products
FAQs ❓
Q: What is price fixing?
A: Price fixing is when sellers collude with each other to keep their prices high, essentially owning the market and preventing others from selling at a lower price. This is a federal crime.
Q: What is Supply Chain by Amazon?
A: Supply Chain by Amazon is a service that aims to control sellers' freight forwarding and logistics services. This could lead to discounts for sellers, as Amazon has buying power.
Q: What is generative AI?
A: Generative AI is a type of AI that can create new content, such as images or text, based on existing data.
Q: What are fits insights?
A: Fits insights is a tool that uses AI to analyze product reviews, size charts, and customer feedback to suggest changes to your fitting chart. This is a great way to improve the customer experience and increase customer satisfaction.
Q: What is the Federal Trade Commission suing Amazon for?
A: The Federal Trade Commission is suing Amazon for being a monopoly against private label sellers. This could lead to changes that benefit private label sellers, such as lower fees.
