Weekly Amazon Seller News - February 23rd, 2021

“New size attributes now available for Listing Apparel products” (Source: Amazon News) 

  • Amazon is standardizing apparel sizes to improve the overall customer shopping experience through ingestion of consistent and accurate data. 
  • Starting February 22, 2021, you will be required to use these attributes when creating new listings and updating existing listings.
  • Previously, sellers used free-form text to provide apparel sizing information. Now, you must select values from a standardized list for size attributes like apparel size, body type, and height type. 
  • These attributes will enhance the customer experience when browsing and viewing your products by displaying standardized and consistent size values.
  • You can review the details and additional product type release dates outlined on the Apparel Product Listing Experience Help Page and the Frequently Asked Questions page.
  • Refer to the Apparel Size Standardization Seller Guide for details on how to submit these structured attributes during listing creation/updates.
  • Read the full article here

“Amazon’s Net Profit Soars 84% With Sales Hitting $386 Billion”(Source: Forbes)

  • Amazon delivered a record performance in 2020 with annual revenue up 38% to $386 billion. That’s a yearly increase of over $100 billion! 
  • And, net profit for Amazon was up 84% for the year as compared to last year. 
  • The company’s strengths of integrated digital platforms and extreme proficiency in supply chain management allowed Amazon to pivot swiftly and adeptly to meet shifting consumer demands amidst the pandemic. 
  • Amazon is now the second-largest U.S. retailer behind Walmart which has not yet reported its financial performance for 2020. 
  • Amazon also announced that Jeff Bezos, founder and CEO of Amazon, will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy will become Chief Executive Officer at that time.  
  • All indications are that the company will continue to be super-obsessed with the customer experience and will accelerate the culture of invention.
  • The trajectory of Amazon’s growth will accelerate as the company continues to control more of the supply chain and masters last-mile delivery. 
  • Read the full article here

“Amazon State of The Seller Report 2021” (Source: Jungle Scout) 

  • Based on insights from 4,864 Amazon entrepreneurs, business owners, and major brands, Jungle Scout’s annual study explores the sellers who drive more than half of Amazon’s $386 billion revenue.
  • Half of the world’s Amazon sellers are based in the U.S., but 2021 shows notable rising interest from sellers in Canada, Turkey, and Germany.
  • 85% of Amazon sellers are profitable and 62% of Amazon sellers said their profits increased in 2020.
  • 44% of sellers said their businesses have performed better than expected because of the COVID-19 pandemic.
  • 39% of Amazon sellers are looking to diversify their eCommerce strategies and considering selling on Walmart.com in 2021.
  • Although most 3P sellers still use Fulfillment by Amazon (FBA), sellers began to use FBM more frequently in 2020, 43% of sellers say they use FBM all or some of the time (compared to 34% the previous year).
  • Top sales model is private label. 67% of sellers use this method, in which they create their own product/brand.
  • Read the full article here

Free, live webinars available from Amazon Small Business Academy” (Source: Amazon News) 

  • The Amazon Small Business Academy helps you learn about emerging digital strategies and brand building techniques through free webinars.
  • Amazon webinars focus on specific topics and feature live question and answer sessions with experts from Amazon who will guide you from practical application to advanced techniques. 
  • You can learn new skills and best practices for selling successfully.
  • The Small Business Academy’s upcoming webinar series starts February 8th through April 5th.
  • Webinar topics include: Fulfillment Options, Business to Business Sales, Global Selling, Amazon Live, Seller Central Dashboard Overview, and Keyword Optimization.
  • To register for upcoming webinars, view past presentations or learn more about the college curriculum, visit the Small Business Academy page.
  • Read the full article here
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