July is over, but summer is not. There’s still plenty of time to get those sales up before the end of Q3. While many online marketplaces are enjoying their summer with increased traffic, like eBay, Amazon was hit by some news that’s not so good. It could even affect your small business, especially if you’re using FBA. Luckily, it’s nothing to be worried about since when one door closes, many more can open.
Keep reading this month’s issue of Ecommerce Lately to learn more!
Streaming and the Ecommerce Industry
Millions of people use streaming services as a form of entertainment. The industry has become so lucrative, that even ecommerce companies are getting in on the trend, namely Amazon. The company saw an opportunity to gain followers and keep them for longer. By providing an entertainment platform alongside their subscription service, Amazon has accrued over 145 million loyal Prime users. Others may follow this business strategy and offer some form of entertainment to offer consumers a better experience.
Oakland Shipping Issues Reflect Bigger Fulfillment Concerns
It’s no surprise that shipping has recently become more difficult for ecommerce companies. In 2020, demand for shipping services increased significantly, to the point where the overwhelming number of products and decrease in workforce delayed shipments around the world for weeks. Oakland is home to just one of the ports feeling the pressure of this setback. Large carrier ships sit for days waiting to be called in for unloading. Learn more about the Port of Oakland’s dilemma and the solutions it’s, along with other global shipping companies, searching for.
Is This The End of Fulfillment by Amazon?
A recent House proposal may disband one of Amazon’s biggest features. The Ending Platform Monopolies Act would close FBA for good, which opens up opportunities for other fulfillment companies. Although, there is another side to this coin, as more competition means higher merchant costs. Not many companies have been able to match Amazon’s all-encompassing services, but this new legislation could add players to the industry and provide an improved delivery option. What are your thoughts on the termination of FBA? Let us know in the comments!
Rumors of Cryptocurrency Payments on Amazon
There was a recent job posting on the Amazon page that received a lot of attention. It sparked rumors that Amazon was looking to accept cryptocurrencies like Bitcoin in the near future. Amazon has since denied this claim but there still may be a chance that we see a new payment option on the world’s largest online marketplace. Other marketplaces, specifically Alibaba, have already begun accepting payments via cryptocurrencies. We would not be surprised if this rumor comes to fruition in a few years.
247% Rise in SMBs on eBay UK
Ecommerce is not slowing down anytime soon, as we can see from a recent stat from eBay UK. Since last year, there has been a 247% increase in small shops following what’s being called “pandemic startups.” Between March 2020 and March 2021, these small businesses sold over 72 million items to 29 million shoppers. Are you one of these startups based in the UK? Let us know in the comments.
Although July had its share of good and bad news, we’re confident that August will bring you more positive industry advancements. And with the holiday season close by, you can be sure that ecommerce companies will be working hard to improve the way retailers sell online.
Make sure you stay updated on all the important announcements these next few months. Follow us on social media and check out our monthly issue of Ecommerce Lately so you won’t miss out!