I was preparing to share insights from last week's Amazon Accelerate when I came across a valuable update from Dan Brownsher of Channel Key LLC. For a detailed overview of what you might have missed at Amazon Accelerate, I highly recommend reading Dan's post:
Also, if you need day-to-day management of your Amazon Marketplace business, check out Dan and his team at Channel Key. Tell them Jerry sent you.
What You Missed At Amazon Accelerate
By Dan Brownsher
Founder of Channel Key | Investor | Amazon Thought Leader | eCommerce Expert
September 25, 2024
We've just returned from Amazon Accelerate 2024, and there’s a lot of excitement! This year's event was packed with exciting announcements that could have serious implications for sellers.
If you couldn't make it, don't worry - we've got you covered with this comprehensive recap of the biggest updates.
As usual, sellers who adapt to new technologies early will likely have a significant advantage over those who are slower.
Logistics and Fulfillment kicked off the conference
Amazon spent day 1 of the two-day conference showcasing its impressive logistics operation. They introduced plans for future upgrades, some of which will be ready in time for the upcoming holiday season.
1. Amazon Managed Ship Option: Coming in the next few weeks, this new service aims to optimize your supply chain:
Cash Flow Optimization: Better manage your cash flow with smarter inventory placement
Reduced Complexity: Simplify your supply chain management
Strategic Inventory Placement: Get AI-powered recommendations on where to place your inventory for maximum efficiency
2. Multi-Channel Fulfillment (MCF) Enhancements: MCF is getting a significant upgrade to help you provide a better customer experience across all your sales channels:
Faster Delivery: Delivery times reduced from 5 business days to just 3
Dynamic Delivery Dates: Show real-time delivery estimates on your website
Google Ads Integration: Partnership with Google to display delivery dates directly in Google Ads
These improvements should mean faster deliveries, increased transparency for customers, and potentially higher conversion rates across all your sales channels.
Buy with Prime expands
On day one, Amazon also announced a slew of Buy with Prime expansions, further meshing the Amazon ecosystem with other sales channels.
Shopify Integration: Customers can now purchase Prime and non-Prime items together
Amazon DSP for Buy with Prime: Launch targeted advertising campaigns to drive traffic to your website
TikTok Showcase: Display the Prime badge and fast, free delivery promise on TikTok, tapping into a huge new audience
PayPal Integration: Available now through API, with full integration coming next year
These updates make the Prime designation even more meaningful beyond Amazon itself.
Generative AI dominated Day 2
The star of the show was undoubtedly Project Amelia, Amazon's new generative AI-powered assistant designed specifically for sellers. Amazon claims that Amelia understands the intricacies of selling on Amazon.
Key Features of Project Amelia:
Always Available: Access Amelia anytime, anywhere within Seller Central.
Natural Language Processing: Ask questions in your own words and get clear, concise answers.
Personalized Guidance: Receive tailored support based on your specific business needs.
Comprehensive Assistance: Get help with Seller Central tools, inventory management, sales analysis, and marketing strategies.
What Can Project Amelia Do?
Provide instant summaries of your recent sales performance
Compare current sales to historical data
Offer strategic advice for holiday season preparation
Suggest keyword optimizations to boost your listing visibility
Forecast demand and recommend inventory plans
Looking Ahead, Amazon has big plans for Project Amelia.
Future updates may include:
More complex scenario handling
Detailed, actionable insights
Growth recommendations
Account health monitoring
Project Amelia is currently in beta and will be progressively rolled out to US-based sellers in the coming months. I’m keeping my eye on this one.
Sellers are already adopting Amazon’s generative AI tools. In mid-June, Amazon said nearly 200,000 sellers had used at least one of the tools, and that number is surely still increasing. Check out more of our in-depth analysis on the role of generative AI in our July newsletter.
Seller Support
Amazon seemed to hear us on issues with seller support. They introduced upgrades to the system for sellers that should hopefully make handling issues easier and faster.
Upgraded seller support
Amazon specialist support for urgent and complicated problems
24/7 live chat for seller issues
A new process for escalating issues without a resolution
Generative AI support for simple, easy-to-fix issues
This could remove some friction from the process and make sellers’ lives significantly easier. The commitment to designate specialists who can handle issues from start to finish is especially promising.
Data and analytics
Amazon is addressing the challenges of handling vast amounts of seller data with two new generative AI-powered tools:
1. Business Planner
This powerful new tool is designed to simplify how you set, track, and achieve your growth goals.
Features:
Data Integration: Combines your sales, traffic, and product data with market intelligence
Generative AI-Powered Modeling: Uses Amazon's performance modeling capabilities to create personalized growth plans
Adaptive Planning: Evolves your plan as you take actions and make progress
Opportunity Identification: Surfaces high-impact opportunities you might have missed
How It Works:
Set your goals (e.g., increase traffic, drive more sales, reduce costs)
Receive a customized, easy-to-follow plan
Get ongoing recommendations as you implement changes
Discover new opportunities to accelerate your growth
2. Custom Analytics
This is for sellers who want to dive deep into their data and create tailored views of their business performance.
Features:
Flexible Reporting: Build customized dashboards and reports
Comprehensive Data Access: Choose metrics from across your entire business (sales, traffic, inventory, advertising, etc.)
Visual Insights: Explore data through intuitive visualizations, charts, and tables
Templates and Customization: Use pre-curated templates or create your own interactive dashboards
Use Cases:
Analyze returns and customer behavior patterns
Optimize costs by comparing various business metrics
Create side-by-side comparisons of different products or strategies
Business Planner is available now, and Custom Analytics will be piloted in the coming weeks. Both tools look promising if they can make Amazon’s vast data more accessible to sellers.
What This Means for Your Brand
Generative AI-Powered Decision Making: With Project Amelia, Business Planner, and Custom Analytics, you can tap into generative AI at nearly every step of the selling process.
Streamlined Operations: The new Amazon Managed Ship Option and MCF improvements could help you optimize your supply chain and fulfillment processes.
Expanded Market Reach: Buy with Prime updates open up new channels and audiences for your products.
Enhanced Customer Experience: Faster shipping, more accurate delivery estimates, and cross-platform shopping might lead to happier customers and potentially more sales.
Centralized Management: Upgrades to Seller Central will allow you to manage more aspects of your business from one central location.
Steps to take now
Prepare for Gen AI Integration: Start thinking about how you can leverage Project Amelia and the new data tools in your business strategy.
Optimize Your Supply Chain: Keep an eye out for the Amazon Managed Ship Option and consider how it might streamline your operations.
Expand Your Channels: If you're not using Buy with Prime or MCF, now's the time to seriously consider these options.
Upskill Your Team: Ensure your team is ready to make the most of these new tools. Consider training sessions on data analysis and gen AI-assisted decision-making.
Stay Informed: Keep an eye on your Seller Central notifications for rollout dates and beta testing opportunities.
Conclusion
The announcements at Amazon Accelerate 2024 mark a significant shift towards gen AI-powered, data-driven selling. Early adopters of these new tools and services will likely see significant advantages in terms of efficiency, reach, and profitability.
As always, we're here to help you navigate these exciting changes. If you have any questions about implementing these new features or want to discuss strategies for leveraging these tools in your business, don't hesitate to reach out.
Here's to the future of Amazon selling - it's looking brighter and more intelligent than ever!
Stay ahead of the curve!
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