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5 Reasons Why Amazon Sellers Are Turning to Repricing Software to Stay Competitive

Guest blog by Chris Dunne from RepricerExpress

Getting your pricing strategy right is one of the most important parts of selling on Amazon where prices are changing constantly. There are two ways you can manage your prices on Amazon — manually or automatically using a repricer.

The latter is suitable if you’re a casual seller with a small number of SKUs or don’t mind dedicating hours of your week checking your competition and manually updating your prices. However, if you’re a serious seller, moving to an automated repricing software to keep your prices competitive is a smart move.

Let’s look at some of the reasons why.

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Global Sources Summit April 2017 Recap: Key Takeaways from 20+ Amazon Experts

On April 17-19 Global Sources held a 3 day online seller conference at the Asia World Expo in Hong Kong. The event brought together online and Amazon sellers together to learn from a wide range of speakers to help grow their eCommerce businesses. The event featured over 20 speakers covering a range of topics from sourcing, quality control, logistics to diversifying your business outside of Amazon and selling your business. Over 100 people attended from all over the world ranging from those just getting started to veteran Amazon sellers.

To those who couldn’t make it out to Hong Kong, not to worry they will be holding another summit in October. But in the meantime,  here is a recap of all the talks along with key takeaways from each of the speakers.

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How to Prevent Picking a Trademarked Brand Name for Your Amazon Business

Nowadays, with the Amazon marketplace getting very competitive, it is more important than ever to build a brandBuilding a brand starts with picking the right name. You do not want to pick a brand name that is already in use or even trademarked.

Customers love great products. If you are able to create a positive customer experience, your customers will start associating your brand with quality. This will result in generating more sales. Especially when you start selling more products in the same niche. Also, a high-perceived brand value will make your listing stand out among the competition. Even if they sell the exact same private label product as you!

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This Week in AMZ #16: Book Sellers Turn to eBay and More

Increased Amazon Fees Pushes Books Sellers to eBay

https://www.marketplacepulse.com/articles/amazon-fees-increases-pushed-books-sellers-to-ebay

Two major changes have affected book sellers on Amazon since March:

  1. Sellers could set their own shipping price.
  2. Fees increased from $1.50 to $1.80 per item. Plus, instead of calculating 15% off the item price it’s now 15% of the sales price plus shipping.

Marketplace Pulse looked at the feedback received by book sellers on both Amazon and eBay to see how this changed over time.

While the site acknowledges feedback is not the same as sales, it can provide an indication. After Amazon implemented the changes on March 1, the site saw a 25% decrease in book seller feedback.

On the flip side, eBay book seller feedback increased by 15%.

With increases in selling fees and higher risk not selling due to high storage fees, sellers should shift their focus on other items. Physical books have become much less profitable than they used to be.

But thankfully you have a wide range of products to choose from now as a seller.

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Boost Your Conversion Rates With Amazon Enhanced Brand Content

Sharing your brand story and educating customers about your products are powerful way to differentiate yourself in today’s cluttered marketplace. Human beings desire the emotional connection derived from a good story.

As the entrepreneur and author Seth Godin would say “Marketing is no longer about stuff you make, but the stories you tell.”

Enhanced Brand Content (let’s call it EBC) recently opened to third party brand sellers at no additional cost and is a useful tool to share your brand story.

Now, you are able to engage 10x better with your customers and provide them with more helpful information before they make a purchase. This will result in increased product sales while you build a recognizable brand on Amazon.

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This Week in AMZ #15: Amazon Officially Arrives Down Under, Walmart’s 2 Main Advantages, Britain Hit by $1 Billion Online VAT Fraud and More

Amazon Retail Is Coming to Australia

It’s been expected for a long time, but now it’s finally happening. Amazon is coming Down Under. Aussies are already able to use the Australian Kindle store, but now it’s time for retail.

Apparently, Amazon is actively looking for warehouse spaces to house fulfillment centers. But where its headquarters will be is still undecided.

As we reported before, some predict that Amazon might struggle in Australia. Whether or not this is the case, time will soon tell.

But there’s no reason to hold off yet. Australia is a big market, with trends of online shopping growth, this presents a great new marketplace for sellers.

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Meeting Your Chinese Suppliers for the First Time — Top 5 Tips to Prepare Before Your Visit

Photo credit: uberof202 via VisualHunt / CC BY-SA

 As an Amazon seller, it’s vital to build and develop a strong relationship with your Chinese supplier. It can be a daunting prospect meeting your supplier face-to-face for the first time.
 
For those of you that are coming to China and meeting your suppliers for the first time we want to get you prepared. Between networking and attending trade-shows, you should set some time away for meeting your supplier.
 
The main reason to meet your supplier in person is to build “guanxi“. Guanxi is the personal relationship which is the foundation for business in China.
 
By spending time with your supplier, you build trust. That trust will help you solid foundation for business going forward.
We spoke with Christian Potts from Tao Consulting with 5 years experience helping customers source products in China. Christian has first hand knowledge of visiting factories, meeting suppliers and deep understanding of Chinese culture.
By doing this, we’ve come up with a list of the top 5 tips to prepare when making your first visit to China.

 

1. Build a Relationship Outside of Business

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This Week in AMZ #14: Walmart Fires Back Again, Hackers Target 3rd Party Sellers, Survey Reveals What Teens Think About Amazon and More

Photo credit: JeepersMedia via Visualhunt / CC BY

Walmart Rolls Out New Discount Program

Walmart is increasingly challenging Amazon. From next week, it plans to offer discounts on around 10,000 online-only items. But there’s a catch: These items won’t be shipped.

Instead, customers will have to pick them up at one of the Walmart stores. This is how the company can offer the discounts in the first place.

The move is another example of Walmart’s recent initiatives to compete with Amazon. Earlier this year, Walmart announced its free 2-day shipping on all orders over $35. This was a response meant to rival Amazon’s Prime membership, which currently costs $99 per year.

Should you be concerned as an Amazon seller? Probably not. But as Walmart tries to drive more visitors online, it will become a more attractive marketplace for sellers looking to diversify.

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What Does the Amazon Influencer Program Mean For Sellers?

Influencer marketing plays an increasingly integral part of brands pushing their products online. A recent survey revealed that 84% of marketers plan on executing at least one influencer marketing campaign during the next 12 months.
 
Social media influencers can generate large amounts of income endorsing products. This happens through their Instagram, Facebook, Snapchat or YouTube accounts.
 
And now Amazon, with its recently released Amazon Influencer Program, gets in on the act.

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This Week in AMZ #13: Amazon Targeting Influencers, Introduces Amazon Cash, and the Case for More Verified Sellers

Amazon Tests Its Own Social Media Influencer Program

Social media influencers often promote products they like to their network. It’s a powerful symbiotic relationship that has been expanded by platforms such as FameBit.

Now Amazon aims to get in on this. Last week, Amazon initiated a beta test of its own influencer program. It will offer influencers commission on products, but it’s not open to the public. This separates it from Amazon Affiliates — its exclusivity.

Anyone can submit an application to be an Amazon Influencer. But only influencers with large followers will be accepted according to Amazon’s program page.

Product selection seems to be entirely up to the influencers. As TechCrunch describes:

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