Second "Prime Day" in October

Amazon is currently testing the use of an AI tool to make it easier for sellers to create product titles, bullet points and product descriptions in the future. The online giant makes it clear that the tool is only intended to reduce the effort of text creation, but not to replace human review and editing.

In the Amazon Ads console, it is now possible to view the number of store followers for your own stores. This makes it possible to measure whether your own investment is worthwhile and what effect advertising measures are having.

Amazon Announces Second Prime Deal Event for October

The second Prime sale event will take place this year in October under the name “Prime Big Deal Days” for Prime members from 19 countries, with specific dates to be announced.

• In 2022, Amazon held an October sale for the first time after its Prime Day in the summer. This year’s event was announced with more lead time.

• It is predicted that the Prime Big Deal Days will have an impact on retail price cuts and traditional Black Friday and Cyber Monday sales, as they did last year.

Amazon.com Releases Brand-Tailored Promotions

With brand-tailored promotions brand owners and selling partners can now create customized discounts and offers for Amazon customers. According to experts, the expansion to the European region is also expected in the coming months.

• Brand-tailored promotions can be used for exclusive offers and are designed to strengthen loyal customer relationships and increase conversion rates while maintaining or reducing promotion costs.

• Promotions can be tailored to repeat shoppers, cart abandoners, potential new shoppers, high-spending shoppers, and new shoppers as well as shoppers who follow the brand.

Amazon Cuts In-House Brands

Amazon is cutting many of its in-house brands. Reasons for this, as reported by The Wall Street Journal, are antitrust investigations and a slowdown in sales growth.

• In textiles in particular, Amazon is eliminating 27 of its 30 private brands and is only continuing with the Amazon Essentials, Amazon Collection, and Amazon Aware brands.

• The US antitrust authority Federal Trade Commission (FTC) accuses Amazon, among other things, of favoring its own goods to the detriment of independent sellers on the platform.

• The vice president of Amazon Private Brands emphasizes that the restructuring serves to adapt to customer needs. Many private brands will simply be rebranded and will remain on the market under the labels Amazon Basics and Amazon Essentials; only products that do not meet Amazon’s profitability standards will be discontinued.

Q2 2023: Global Online Marketplaces Exceed Expectations

Chinese e-commerce company Alibaba and U.S. commerce platform Etsy beat expectations with their Q2 2023 results. Latin America’s leading e-commerce player MercadoLibre and European fashion group Zalando also posted strong Q2 quarterly results.

• Alibaba’s revenue is up 14% and net profit is up 51% year-over-year to $4.6 billion. This is attributed to improved consumer sentiment, the “618” discount promotion and internal restructuring measures.

• MercadoLibre achieved 32% year-over-year revenue growth to achieve $3.415 billion in Q2 2023. The platform added 8.1 million new users and recorded a total of 108.6 million active users in the quarter.

• Zalando reported a successful quarter with EBIT growth of 87% to €144.8 million. Optimized cost per order and increased shopping cart values contributed to the business performance.

• Etsy Inc. revenue grows 7.5% year-over-year to $628.9 million in Q2 2023, exceeding experts’ estimates by around $10 million.

TikTok Launches “Fulfilled By TikTok” Logistics Service in the UK

In the last newsletter, we reported on the launch of TikTok’s new shopping program for selling Chinese goods in the US. Now the Chinese company is expanding its e-commerce activities and officially launching its logistics offering “Fulfilled By TikTok” (FBT) in the UK.

• TikTok takes care of the storage, collection, packing and shipping of goods for merchants on TikTok Shop UK.

• The goal is to reduce delivery times and increase customer satisfaction, so brands can focus on other aspects of their businesses.

• Since November 2022, FBT has already been tested in the UK and, according to initial reports, offers a profitable addition to other sales platforms.

Shopify on Growth Track After Logistics Sale and Layoffs

Shopify’s second-quarter revenues grew 31% year-over-year to nearly $1.7 billion, showing growth after focusing on building e-commerce stores.

• Despite a higher net loss of $1.31 billion, the company posted a 17% year-over-year increase in gross merchandise volume. After facing challenges, Shopify focused on key accounts and wholesale expansion, also highlighting AI integration.

• Shopify is gaining momentum in B2B, targeting untapped potential. New tools such as Marketplace Connect are expected to strengthen wholesale.

Amazon has announced that it will hold a second Prime Day – the “Prime Big Deals Days” – in October. However, a look at the second Prime Day last year (“Prime Early Access Sale” on October 11 and 12, 2022) shows that it was much less successful than the initial Prime Day 2022 on both offer days. We are curious to see how successful this year’s second sale event will be.

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Studies: Prime Day Analysis 2023 – by Alexander Schenck, August 02, 2023

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