Last week in Seattle, JumpFly had the amazing opportunity to attend Amazon’s event, Amazon Accelerate, and we’re excited to share some exciting announcements designed to redefine the e-commerce landscape. This year’s event focused on Amazon’s continued innovation, empowering sellers to reach customers faster, streamline operations, and grow their businesses like never before.
AI Steals the Show
Artificial Intelligence was clearly the star of the event. AI will soon be integrated into almost every aspect of Amazon’s business. From content creation and audio checking to video and image generators, it’s clear that Amazon is going all-in on AI. A few exceptions include:
- Project Amelia: Amazon’s new AI-powered sales assistant promises to revolutionize account management. Stay tuned for its launch; it could be a game-changer.
- Business Planner AI and Custom Analytics: These tools provide deep insight into Amazon’s businesses, helping us make informed decisions quickly.
Supply Chain and Amazon
One of the most interesting things was the expansion of that Supply Chain and Amazon. This all-in-one solution simplifies operations and enables the placement of articles, leading to faster delivery speeds and an average sales increase of 20% on Amazon. Hundreds of thousands of merchants are already benefiting from these services, with the adoption of more services tripling in the first half of 2024.
A well-established selection of US suppliers manages the entire supply chain process – from pickup to Amazon fulfillment. Sellers simply provide product information and pick-up locations, and Amazon handles the rest, including the shipping carrier, the integration process, and the fulfillment process at the fulfillment centers. The fully customized option will be available at all US retailers for domestic pickup in October and worldwide pickups by the end of the year.
Multi-Channel Distribution Improved
Amazon Warehousing and Distribution (AWD) has also improved Multi-Channel Distribution good. Retailers can now use traditional records, allowing for more distribution of products in a variety of retail channels—including other markets, wholesalers, distributors, and physical stores. By consolidating inventory into AWD, retailers can reduce the amount of stock they need, resulting in significant savings and preventing outages, which in turn will result in more sales.
Embedded Third-Party Apps in Merchant Central
Amazon is improving workflows by allowing sellers to access and use third-party apps directly through the Seller Central interface. Later this year, Amazon plans to test the integration of these apps, enabling shoppers to find their favorite tools — both on Amazon and outside — within a single, unique portal. This integration is designed to enhance efficiency and centralize business management needs.
Buy with Prime and Multi-Channel Fulfillment: Expanding Opportunities
Buy with Prime and Amazon Multi-Channel Fulfillment (MCF) has released a number of updates aimed at improving the seller’s and seller’s experiences. These solutions are designed to help businesses of all sizes increase their sales within the Amazon store and on other platforms.
- Added Payment Options with PayPal: Starting next year, merchants will be able to offer Prime shopping benefits directly through PayPal payments. Prime members can link their Amazon account to their PayPal account, enabling automatic access to Prime’s free, fast shipping benefits. This integration is expected to enhance customer convenience and drive higher conversion rates.
- New Advertising Solutions: Sellers can now leverage Amazon’s Demand-Side Platform, Google Shopping Ads, and TikTok Ads to drive more traffic to their Shopping with Prime-enabled products. These tools provide increased reach and targeted marketing options to attract more customers.
- Shopify Returns: Improved integration means that Buy with Prime and non-Prime orders can now be combined in one cart, simplifying the checkout process for customers.
Already this year, Buy with Prime state orders through merchant sites have increased by more than 45 percent year-over-year, resulting in an average 16% increase in revenue per merchant. Additionally, MCF now serves over 200,000 US retailers, with a 70% year-over-year increase in orders fulfilled.
Amazon Shipping Mobile App: Enabling Sellers on the Go
In response to the growing demand for mobility and flexibility, Amazon has introduced innovations Amazon Shipping mobile app. This tool allows traders to:
- Arrange a pickup directly from their warehouses
- Review inventory in many warehouses
- Receive real-time updates on transport vehicles
- Access customer support from anywhere
By connecting to more than 50 commonly used delivery software partners, the app simplifies the management of solutions, making them efficient and accessible.
Veeqo Profit Analyzer: Real-Time Profit Tracking
Understanding profitability is key to business growth, and Amazon’s Veeqo Profit Analyzer addresses this need with an all-in-one dashboard that tracks profitability in real time. It provides a detailed breakdown of key costs, including transportation costs, product costs, fees, and marketing spend. Sellers can analyze profits from Fulfillment by Amazon (FBA), seller-fulfilled orders, and other sales methods, reducing time spent on spreadsheets and allowing more focus on business expansion.
Drones Take Flight
Amazon is expanding its drone delivery service with the new MK30 drone. They plan to start operations in Arizona after a successful test phase in Texas, promising delivery within 13 minutes. This can significantly affect delivery times and customer satisfaction.
Final thoughts on Acceleration 2024
Amazon Accelerate 2024 showcased a suite of products designed to empower retailers like never before. From AI advancements to simplifying the supply chain, expanding payment methods, and enhancing merchant tools, Amazon is providing the resources needed to navigate the dynamic e-commerce landscape.
The future of e-commerce is brighter than ever, and with Amazon’s continued support, retailers are well positioned to reach the top. Use these new AI tools to maximize your growth potential.
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