Weekly Amazon Seller News – November 3, 2020

Every week, our team of experts round up the most important news for Amazon business owners. Here are all of the bite-sized news nuggets for the week of November 3rd, 2020.
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“Win Against the Amazon Extended Holiday Return Policy 2020” (Source: Lab 916)

  • In September, Amazon extended its holiday return policy for items delivered between October 1 and December 31, increasing the window from 92 days to about 120 days (through January 31, 2021).
  • This policy includes orders that are shipped by sellers (FBM) and orders that are shipped by Amazon (FBA). This means that Amazon has extended its authority over a third party seller-type account as well.
  • In our experience, an extended holiday return policy doesn’t necessarily indicate an above-average increase in returns. But if you are concerned, we have some tips.
  • First, you can brush up on all the information regarding charging a restocking fee here.
  • It’s going to be extremely beneficial if you know your rights and risks as an Amazon seller by educating yourself on the Amazon Seller Return Policy.
  • You should also check to see if you meet the criteria to charge a restocking fee to keep customers accountable.
  • Read the full article here

 

“Amazon predicts $4 billion in Covid-related costs next quarter, with unpredictable holiday sales” (Source: NBC) 

  • Amazon said its operating profit in the fourth quarter will be in the range of $1 billion to $4.5 billion.
  • This is a huge gap and leaves a lot for investors to consider. Regardless, it’s by far the biggest period of the year for the company by revenue.
  •  This year is expected to be Amazon’s first-quarter ever to surpass $100 billion in sales.
  • The prediction incorporates roughly $4 billion of costs tied to Covid-19 for things like testing, cleaning, extending employee breaks, and social distancing measures.
  • Read the full article here

 

“Amazon scores record sales for any three-month period ever” (Source: Fox)

  • Amazon has already hit record profits with another quarter left in 2020. 
  • They posted a net income of $6.3 billion in the third quarter, or $12.37 per share, compared to $2.1 billion, or $4.23 per share a year ago.
  • Sales in Amazon’s third-quarter earnings hit $96.1 billion –a record for any three-month period in the company’s history and a 37% increase year-over-year.
  • With still another quarter left for the year, Amazon is on its way to mind-blowing numbers. It has already reached a record profit total in 2020 with another quarter still remaining. 
  • Those fourth-quarter figures will include the recent Prime Day sales as well as the upcoming winter holiday season
  • Read the full article here

 

“Amazon Vendor Information X 2020” (Source: Crux Finder) 

  • Amazon is giving retailers who’ve bought on its venues, for over 1 year, the flexibility to add movies to their Product Element pages. To verify your eligibility, go to Vendor Central.
  • The free Digital Product Bundles instrument (sign-in required) lets sellers collectively create a bundle element web page, so that patrons can select their discounted add-ons.
  • Amazon recently began checking for defects (unsuitable dimension or weight) in listings. Sellers should verify “Item Package” values to ensure they don’t go over 12.32kg and 100cm x 50cm x 50 cm.
  • Sellers who ask Amazon for GTIN exemptions don’t need to ship a letter from the model proprietor anymore. This modification is being rolled out progressively throughout all product classes.
  • Sellers who have FBA stock within the USA can now promote it throughout the border to Canada and Mexico utilizing Distant Achievement with FBA (sign-in required).
  • Sellers should now fill within the discipline referred to as “Pesticide Marking” every time they make a brand new itemizing for pesticides or pesticide gadgets. Listings without this data could also be eliminated after Jan. 11, 2021. 
  • Amazon may also be gating the class for pesticides, so sellers should get approval ASAP to proceed with promoting models already listed.
  • Amazon launched a brand new dashboard in Vendor Central referred to as the Amazon Promoting Console. Sellers can now see all their advert campaigns, shops, experiences, billing knowledge, and fee settings in a single place.
  • Read the full article here

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