Recap of Amazon's Yearly Virtual Conference - Accelerate 2021Oct 27, 2021
Amazon recently held its annual conference directed at Sellers on the platform (that’s us!), with sessions focused on five tracks:
- Navigating Selling on Amazon
- Shipping & Fulfillment
- Building your Brand
- Selling Globally
This year’s event featured new product and service announcements for current and aspiring sellers. (For more recap directly from Amazon, visit: https://sell.amazon.com/events)
I’ll quickly highlight some of the most important announcements below, but among the top stories are some cool facts:
- third-party sellers are now responsible for the majority (approximately 60%) of retail sales on the then entire platform.
- the number of million-dollar sellers on the platform have risen by 15% from last year
Products and services announced at Amazon Accelerate 2021
“Take the guesswork out of identifying new products to launch using rich insights into what customers are looking for. Uncover niches of emerging product opportunities through detailed data on search volume and growth, sales history, pricing trends, and more to help you identify and act on customer demand.”
Search Analytics Dashboard
“Use a wealth of anonymized data to better understand customers’ interests and shopping choices related to your products. Optimize your listings, improve inventory planning, build your product development roadmap, and grow your business both on and off Amazon.”
“Direct non-Amazon marketing traffic from your or other websites to Amazon and earn a bonus of, on average, 10% of the purchase price of the promoted product and any other of your brand’s products purchased over the following two weeks.”
> This program launched in Summer 2021, and allows some bonus earnings from Amazon. To put it simply, Sellers can drive traffic to their Amazon listing from their off-amazon channels (like their webstore) and receive a bonus of 10% of the purchase price of the promoted product. Yep - that’s right. You get an extra 10% payment in addition to the regular benefits of selling a product on Amazon.
Basically, Amazon has been rewarding sellers for any purchases of product on the platform that stemmed from traffic originating off of Amazon. This “Bonus” is just one more way to highlight how much Amazon values sellers bringing them new customers to the platform (or at least new for the day.)
“Launch email marketing campaigns to grow customer loyalty and raise awareness of your new products.”
>The beta version was launched in May, which allows registered brands to launch email campaigns to customers in order to raise brand awareness of newly launched products.
A+ Story Cards
“Showcase your brand story on product pages through rich visual imagery. More seamlessly connect shoppers with your other selection.”
> These cards on the product page allow brands to elaborate on their brand story with pictures. Your customers canl connect with all of your products if put to good use.
Customer Review Resolution
“Provide enhanced customer service to customers who leave negative product reviews. Offer additional support, a courtesy refund, or a replacement, in order to build a stronger connection with customers.”
> This tool will allow sellers to reach out to unhappy customers who may have left a negative review. We’ll be able to offer support by giving a refund if they are unhappy.
“Offer in-store pick up for products to customers in specific zip codes. Become a multi-channel retailer by listing products on Amazon and offering them to local customers in designated areas for same-day, in-store pick-up, or your own local delivery. Combine pick up and delivery with your business's services, such as installation and repair.”
This is not the complete list of all that was shared at Amazon Accelerate 2021, but it highlights some of the more important announcements.
Again, if you would like to learn more about the event, visit HERE.
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