In the dynamic world of e-commerce, it is essential for you as a seller to stay continuously informed about the latest trends, tools, and services that can help you grow. Amazon recently unveiled a series of innovative tools and services at the Accelerate Event, their annual U.S. sellers conference. These are specifically designed to support your growth ambitions. From effectively utilizing customer feedback to drive product development to analyzing customer loyalty. The new tools promise significant advancements in how you run your business on Amazon. Additionally, Amazon has taken steps to simplify the logistics process with ‘Supply Chain by Amazon’. In this blog, we tell you more about these tools and services. What do they mean for the future of selling on Amazon?
Amazon improves Customer Sentiment Insights tool
Amazon is continuously working on improving and innovating the platform for the benefit of its sellers. During the Accelerate Event, several new and improved tools and services were presented. One of the revelations was the improved Customer Sentiment Insights tool. This tool uses customer insights to assist brand owners in designing and improving products. It enables sellers to use customer feedback at the product level, which is essential for new product development. By using this feedback, sellers can accelerate the product development cycle. Additionally, they reduce the risk of producing a product that does not resonate with customers. The improved tool also integrates seamlessly with other Amazon seller tools, making it easier for sellers to get an overview of their performance and customer satisfaction.
Data is king: Customer Loyalty Dashboard
In the digital age, data is king, and Amazon understands this like no other. In addition to the Customer Sentiment Insights tool, Amazon also introduced the Customer Loyalty Dashboard. This dashboard allows brand owners to segment customers based on loyalty. Purchase patterns of customers can also be analyzed. The dashboard is integrated with Brand Tailored Promotions, a tool that allows brands to offer customized promotions, coupons, and discounts to customers with a high purchase intent.
Moreover, the dashboard offers advanced analytical features, such as predictive analytics, which enable brands to predict future purchasing behavior and anticipate their customers' needs. It also allows brands to evaluate and optimize customer loyalty programs, enabling them to better respond to the desires and needs of their most loyal customers.
These combined tools make it easy to approach the right customer at the right time with the right incentives. This not only helps in acquiring new customers but also in encouraging repeat purchases from existing customers. Through these insights and tools, sellers can reduce their customer acquisition costs. It is clear that Amazon’s focus on data analysis and customer loyalty provides sellers with a competitive advantage in the increasingly competitive marketplaces market.
Supply Chain by Amazon
Amazon continues to innovate and strives to provide sellers on their platform with the best possible experience. A notable announcement during the Amazon Accelerate Event was the introduction of “Supply Chain by Amazon”. This new service is an end-to-end supply chain management solution for all sales channels, designed to bring products directly from manufacturers to customers worldwide.
How does it work?
When sellers decide to offer their products through Amazon, the Supply Chain is initiated by transferring their products to Amazon. This is facilitated by Amazon Global Logistics (AGL), a service set up to transport inventory in bulk to Amazon Warehousing and Distribution (AWD). Upon arrival at AWD, the products are stored cost-effectively. These products are immediately available for sale once processed by Amazon's distribution centers. Sellers also have the option to keep their inventory in bulk at AWD for the desired duration. This ensures that their products are continuously available.
The handling of customer orders is also seamlessly integrated. The bulk inventory stored at AWD is used to automatically replenish the seller's products within the Amazon fulfillment network. So, if a customer makes a purchase in the Amazon store, Amazon takes on the task of picking, packing, and delivering the product through their Fulfillment by Amazon (FBA) service. If a customer chooses to make a purchase on the seller's own website with the option Buy with Prime, or even through another activated sales channel, Amazon handles the delivery through their Multi-Channel Fulfillment (MCF) service.
The goal of Supply Chain by Amazon is to relieve sellers by providing them with advanced tools and insights. These tools will help them better anticipate demand, manage their inventory more efficiently, and ultimately improve their profit margins. Moreover, Amazon aims to reduce the complexity of the supply chain with this service. This allows sellers to focus on what they do best: selling products.
With this move, Amazon is trying to control an even larger part of the e-commerce chain. By offering sellers an integrated solution for their logistical needs, Amazon positions itself as a one-stop-shop for everything an online seller needs.
More interesting announcements from Amazon
The Amazon Accelerate Event provided more insights into what the future of e-commerce might look like. In addition to the aforementioned tools and services, there were many other interesting announcements. We have listed them for you:
AI-backed Seller Messaging Assistant: This assistant, powered by advanced artificial intelligence, is designed to relieve sellers of customer inquiries. By automatically responding to frequently asked questions, such as shipping information, sellers can focus on more complex customer requests while providing fast and consistent customer service.
Generative AI for Listing Building: Using advanced algorithms, this tool helps sellers automatically generate product descriptions. By entering just a few key points or features of a product, the tool can write a complete and compelling product description. This can increase the visibility and attractiveness of product listings.
Amazon Shipping: This new shipping initiative is not only intended to improve delivery speed and efficiency for Amazon sales but also to provide a reliable alternative to traditional shipping services. With competitive pricing and reliable delivery times, this can be a game-changer for many sellers.
Enterprise Solutions Integrated In Partner Seller App: This integration brings powerful tools and services for and by entrepreneurs directly to the sellers. Whether it's inventory management, sales analysis, or customer relationship management, these integrated solutions are designed to streamline and optimize business operations.
A New Seller Homepage: This revamped homepage provides sellers with a comprehensive dashboard with real-time sales statistics, notifications, and recommendations. It is designed to help sellers quickly gain insight into their business performance and take action where needed.
One Page Listing Management Page: Instead of navigating through multiple pages, sellers can now manage all their product listings from one central page. This makes the process of adding, editing, and optimizing products much more efficient.
Buyer Abuse Protection: Buyer abuse can be a major issue for sellers. These new protection measures are designed to shield sellers from fraudulent returns, false claims, and other forms of abuse.
Veeqo Multi-Channel Shipping: Through integration with Veeqo, sellers can now easily manage their shipments across different sales channels. This ensures streamlined logistics and better customer service.
The list of announcements goes on…
Fit Insights Tool: Returns due to fit issues can be costly for sellers. This tool provides insights into how products actually fit customers, allowing sellers to adjust their product descriptions and reduce the number of returns.
Voice Of The Customer Dashboard: Feedback is crucial for continuous improvement. This dashboard collects and analyzes customer feedback, giving sellers insight into what is going well and where improvements are needed.
Two-Tap Ratings: In an era where everything must be instantly available, it is essential that feedback systems are quick and easy. Amazon’s new “Two-Tap Ratings” allows customers to leave a review with just two taps. This lowers the threshold for customers to share their opinions, which can lead to a higher number of reviews and more valuable feedback for sellers.
New Seller Wallets: Amazon understands that efficient financial management is the backbone of any successful business. The “New Seller Wallets” are designed to give sellers a clear overview of their financial situation. With advanced reporting features, real-time insights into income and expenses, and integrated forecasting tools, sellers can make better-informed financial decisions.
Buy with Prime with Shopify: The collaboration between Amazon and Shopify opens new doors for sellers. By integrating the “Buy with Prime” program with Shopify, sellers outside of Amazon can benefit from the advantages of Prime, such as faster shipping and increased visibility. This can lead to an increase in sales and a broader customer base.
View In Your Room Feature Improvements: Augmented Reality (AR) is changing the way customers shop online. With the improved “View In Your Room” feature, customers can now see with even more accuracy how a product would look in their own space. Whether it's furniture, decor, or clothing, this feature can eliminate doubts and convince customers to make the purchase.
Ships On Product Packaging Program: Shipping costs can be a significant part of a seller's business expenses. With the “Ships On Product Packaging Program”, Amazon provides sellers with the tools and insights to choose the most efficient packaging for their products. It is also possible to place the shipping label directly on the product packaging. This can not only lead to savings on shipping costs but also to a reduced ecological footprint.
Sustainability Solutions Hub: Sustainability is no longer a choice but a necessity. Amazon’s “Sustainability Solutions Hub” is a central place where sellers have access to resources, best practices, and innovations in the field of sustainability. Whether it's eco-friendly packaging, energy-efficient logistics, or ethical sourcing, this hub helps sellers make a positive impact.
New is the ever-growing focus of Amazon on integrating advanced technologies into their platform. There was talk of integrating augmented reality (AR) to provide customers with a better shopping experience. With AR, customers can visualize products in their own environment before making a purchase. Additionally, a new collaboration with various environmentally conscious organizations was announced. With this, Amazon aims for sustainable packaging solutions and a reduction of the ecological footprint.
These new announcements and tools emphasize Amazon’s commitment to innovation and their pursuit of providing an excellent experience for both sellers and consumers.
The Amazon Accelerate Event 2023 has made it clear that Amazon is not standing still in the rapidly changing world of e-commerce. By unveiling advanced tools like “Supply Chain by Amazon”, the AI-supported messaging assistant, and the ambitious shipping program, Amazon underscores its ongoing commitment to sellers. At the same time, the company strives to be the most customer-friendly company and provide customers with the ultimate experience. These innovations offer sellers new opportunities but also bring challenges, given Amazon's growing dominance in the market. For sellers, it is now more important than ever to adapt to these changes while maintaining their own brand identity.
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