Here are the 5 most interesting things that happened in the world of Amazon e-commerce during May 2023
Amazon sellers must stay up-to-date with the ever-evolving landscape of the digital sphere. In this fast-paced environment, it’s easy to miss out on the latest updates and advancements that can have a significant impact on your operations.
In our Amazon News series, we review the important updates and noteworthy developments from the past month. From technological updates to regulatory changes and market trends, here is a summary of the information you need to stay up to date and make well-informed decisions for your business.
So, let’s dive into the key highlights of May 2023:
1. Amazon is Re-Verifying Thousands of Sellers
Amazon is implementing a new verification process for its third-party sellers in response to the INFORM Consumers Act, a federal law aimed at protecting online shoppers from counterfeit and stolen goods. The law requires marketplaces like Amazon to collect and disclose certain information about high-volume sellers. As a result, Amazon is asking hundreds of thousands of sellers to update and verify their business details, including identity, bank account, phone number, address, and tax identification number.
For more info:
Marketplace Pulse – LINK
My Amazon Guy – LINK (Great tips on how to have a successful verification process)
2. Amazon introduces INSPIRE
Amazon’s TikTok-like shopping feed, Inspire, is now available to all customers in the United States. This feature allows consumers to explore products and ideas and shop from content created by influencers, brands, and other customers.
To use Inspire, customers need to open the Amazon Shopping app, sign in to their account, and tap the Inspire “light bulb” icon on the bottom navigation bar. They can then choose from over 20 interests, such as makeup, skin care, pets, gaming, plants, hiking, interior design, travel, running, and more to personalize their Inspire feed.
The “Inspire” scrolling experience is similar to TikTok’s vertical video feed, where users swipe up from the bottom to see the next video. If a user sees something they like, they can scroll horizontally through the small buttons that display the products in the video at the bottom of their screen. Clicking on a product will open an overlay window on top of the video, where they can see all details and make a purchase or add the item to a list.
Creators enrolled in the Amazon Influencer Program can post content to Inspire and are eligible for commission when customers shop from their content. Brands can also post to Inspire, including vendors and sellers enrolled in Brand Registry with an active Brand Store. However, Inspire is not accessible via desktop and is only available on the Amazon mobile app on iOS and Android.
For more info:
Amazon Inspire – LINK
TechCrunch – LINK
3. Amazon introduces a new Creator Connections Program
Amazon has introduced a new initiative known as the Creator Connections Program, aimed at facilitating partnerships between brands and prominent social media influencers. The launch of Creator Connections represents Amazon’s strategic move to capitalize on the booming trend of influencer marketing. Under this program, brands will connect with Amazon Associates and leading creators and provide them with an additional commission on top of their affiliate earnings from Amazon. In return, brands will have the opportunity to share brand and product messaging with the creators.
The Creator Connections Program is currently in its beta phase and accessible only to sellers in the U.S. who actively request to join it. Brands can ask to join the program by submitting a request form.
Registered sellers can locate the tool under “Advertising” in their Seller Central Account. Once you have access, you can create a campaign by entering information like the campaign overview, goals, key talking points, campaign start and end date, creator interests, maximum campaign budget and commission rate, and the products to promote.
We at Wise Commerce have already submitted our clients to the program and are looking forward to experimenting with this new tool. We hope it will prove a valuable marketing platform for brands and will be sure to let you know what benefits and limitations the program presents.
Read more here:
Stackinfluence – LINK
Amazon – YouTube
4. Amazon broadens its AI capabilities:
Amazon has recently made significant strides in expanding its capabilities in the sphere of artificial intelligence (AI). One notable step in this direction is the purchase of Snackable.AI, a small AI company with a focus on audio technology, which was bought by Amazon discreetly last year. This move allows Amazon to harness the power of machine learning tools specifically designed to extract valuable insights from podcasts.
Furthermore, internal documents obtained by Business Insider reveal Amazon’s ambitious plans to leverage AI language models, to enhance its virtual assistant, Alexa. The goal is to empower Alexa with the ability to think and reason, going beyond simple information retrieval. All signs point to Amazon positioning itself against competitors like OpenAI, Microsoft, Anthropic, and Google, who have taken an early lead in the generative AI space. There’s no doubt we’ll see more strategic acquisitions and innovative developments that will further Amazon’s AI capabilities and revolutionize its user experience in exciting ways.
More on Amazon and AI:
CNET – LINK
Business Insider – LINK
5. Amazon partners with Pinterest
Exciting news! Pinterest has announced a new strategic ad partnership with Amazon, marking its first ad-focused collaboration with a third-party app. The partnership seeks to enhance the journey from inspiration to action for the over 463 million Pinterest users. It creates a new, seamless buying experience, allowing users to click on Amazon ads and be directed to the platform for purchases. This intriguing collaboration will give sellers and advertisers the advantage of targeting users with high commercial intent. The implementation of this partnership is set to take place over several quarters, commencing later this year.
If you have yet to create a Pinterest account for your brand, now is the perfect time to do so and showcase your products on this visually appealing platform.
Pinterest – LINK
Get Ready for Amazon Prime Day 2023
We couldn’t finish this summary without mentioning the most anticipated online sales event of the year! Amazon Prime Day 2023 is coming up soon and every seller in the Amazon universe is already busy with the preparations. Rumors say it will take place on 12-13 July but we are waiting for the official Amazon announcement.
With last year’s Prime Day reportedly the biggest ever, including over 300 million items purchased worldwide and $1.7 billion saved by Prime members, it’s no surprise this highly anticipated event is on everyone’s mind.
Stay tuned for a dedicated article we’ll be publishing on our blog closer to the event.
Thank you for taking the time to read this summary! If you found it informative, share and pass on the content to your friends and co-workers who might find it interesting or beneficial for their business.
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