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Hello Amazon Seller,
Thank you for being a subscriber, and thank you for opening this email.
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Nobody's going to do your life for you. You have to do it yourself, whether you're rich or poor, out of money or raking it in, the beneficiary of ridiculous fortune or terrible injustice. And you have to do it no matter what is true. No matter what is hard. No matter what unjust, sad, sucky things befall you. Self-pity is a dead-end road. You make the choice to drive down it. It's up to you to decide to stay parked there or to turn around and drive out. Cheryl Strayed
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This email may contain affiliate links which means we may earn referral fees if you make a purchase through our links, without any additional cost to you.
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Million-Dollar Sellers: 7 Things You Can Learn from Them
Thousands of sellers make more than $1,000,000 in sales from their Amazon businesses, and most of those sellers did so in fewer than five years. Amazon sellers tend to set out on their eCommerce journey for similar reasons. Many want to become their own bosses, others seek the flexibility that remote work offers, and some are simply curious enough to try it. Success as an Amazon seller is accessible to very nearly everyone — 85% of Amazon’s third-party (3P) sellers are profitable.
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In Jungle Scout’s survey of nearly 5,000 Amazon brands and sellers, they found that 19% have made more than $1,000,000 in sales since starting their Amazon businesses, and 58% of those sellers did so in fewer than five years. So they set out to find out what makes high earners different, and how do so many of these sellers ascend to their millionaire status so quickly?
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Prime Day 2021 - June 21 and 22
Prime Day 2021 will take place on the 21st and 22nd of June. Expect a big spike in traffic on Amazon over these two days. You don't have much time to prepare, so if you don't have a plan for Prime Day, get to work now.
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Here is a great article from Steven Smotherman with tips you might not have thought about.
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Amazon launched the Small Business Promotion with a $10 Prime Day Credit
Amazon is launching a "Spend $10, Get $10" promotion to help small businesses get rolling with Prime Day. Amazon is investing more than $100 million to fuel the success of small businesses.
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Amazon is offering its Prime members a $10 credit for every $10 spent on the website’s small business section. Better yet, a number of these top-rated products are also on sale, so you can currently grab them on the cheap!
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Amazon Return Policy 2021
As sales increase with the coming Prime Days make sure you are up to date on all of the Amazon rules surrounding returns. There is nothing worse than learning an expensive lesson the hard way.
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Below is a link to an excellent article that really spells out Amazon's policies for returns and restocking fees and how they can affect you in an easy-to-understand way.
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Amazon Sidewalk
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Amazon never ceases to amaze. Now comes Amazon Sidewalk which I think is a huge security risk on their part. Here is Amazon's description:
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Amazon Sidewalk is a shared network that helps devices work better. Operated by Amazon at no charge to customers, Sidewalk can help simplify new device setup, extend the low-bandwidth working range of devices to help find pets or valuables with Tile trackers, and help devices stay online even if they are outside the range of their home wifi. In the future, Sidewalk will support a range of experiences from using Sidewalk-enabled devices, such as smart security and lighting and diagnostics for appliances and tools.
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They are sugar coating it a bit. The intent is to make a network out of all your Amazon devices such as Echo and Ring doorbells with all of your neighbors. So when my neighbor's wifi is slow, they will get some juice from mine. I don't like that, at all. But of course, the biggest issue is security and privacy. Hackers are going to have a field day. Amazon claims it will all be encrypted. Sure, until it isn't. I see a nightmare brewing here and I want no part of it. Who wants to be on the same network as your neighbors? Not me!
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Here is a link to a great article about this:
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How to Create, Launch and Grow Million Dollar Brands on Amazon, with Jon Elder of Black Label Advisor
Seven years ago, Jon Elder decided to design and launch a product on Amazon.com. He turned it into a golf accessories brand and grew it to more than $1 million in annual sales. Then he launched another brand, and then another, and then another, all. After 5 years he’d grown enough to sell the overall business for several million dollars.
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Now he runs Black Label Advisor, a consultancy helping other businesses to create products, and grow results on Amazon. In this interview article, Jon explains the exact processes he used to grow several million-dollar brands.
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Advice for retail and online arbitrage sellers
These tips come from Karen Hutson at GetUnsupended.com. They offer a subscription for either hand-holding you to get your account unsuspended or a full-service option where they do it for you:
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- ONLY source from proper shops/wholesalers and never from individuals or from shops where you haven't done your due diligence to ensure they are supplying genuine goods - you 'believing' them to be genuine is not enough! You must be able to prove it
- Ensure you have invoices for ALL the stock you send to Amazon
- Ensure your invoices are addressed (billing address) to a name and address which are recognized in your Amazon account - your delivery address doesn't matter
- If you are doing RA, ensure you scan in your receipts before they fade and if the receipt isn't clear about what the product is, but refers to a number on the product, take a photo of the receipt and the product together showing the relevant reference number before you send in stock
- Make sure you read your emails from Amazon - many people get suspended simply because they didn't properly read what action what they were asked to do!
- Make sure your invoices/receipts show ALL the information - for instance, if you get a 'buy one get one free' deal - make sure that is clear so your stock numbers add up.
- NEVER respond to an Amazon query about your account without thinking VERY carefully about your response. You only have so many opportunities to talk to them and I've seen people lose accounts because they use up those opportunities merely asking questions about the process!
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Amazon Lightning Deals: All Your Questions Answered
Prime Day will be here in a flash. As most salespeople know, creating a sense of urgency is one of the most effective ways to convert a customer. This is the secret behind the power of Amazon Lightning Deals. These popular flash sales have a reputation among sellers for being a quick means to sell a lot of inventory. Unfortunately, it doesn’t always work out that way.
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Running a successful Lightning Deal not only requires a detailed understanding of how they work but more importantly, a recalibration of what to expect in terms of results. It’s not just about immediate sales. The risk matters as much as the reward.
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Some deals cost sellers more than they earn from them, while others trigger a halo effect that increases product sales beyond the promotion's end. Here is everything you need to know about how to run deals that flare instead of fizzle.
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This is another high-quality article from WebRetailer:
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This Staggering Number Explains Why Amazon Prime Is the Best Idea in the History of Business
Why Amazon Prime is the best idea in the history of business. Data shows that the average consumer who isn't a Prime member spends about $600 a year on Amazon. For Prime members, it's $1,400.
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Here is an interesting article that explores the genius of Amazon Prime.
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PickFu
PickFu has an all-new website and dashboard for e-commerce sellers.
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This has made it even easier to create polls and get the detailed feedback you need from your target audience.
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I use PickFu to validate product and packaging ideas. We’re talking feedback within minutes or hours, not days or weeks. And with a base price of $50 for a 50-person poll, it’s one of the most affordable and effective solutions I’ve found for getting unbiased insights from real consumers.
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PickFu has kept me from making some tragic mistakes but also has allowed me to make some great decisions.
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Receive 50% off your first poll, as long as you use the code “A2ZSC” at checkout.
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Tax collection on orders shipped to Florida and Kansas - Effective July 1, 2021
From July 1, 2021, Amazon will begin calculating, collecting, and remitting sales and use tax on all orders shipped to customers in Florida and Kansas based on changes to tax laws in these states.
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You are not required to update your tax settings or seller account as your existing tax calculation settings, order details, and payments reporting will update automatically to reflect Amazon’s responsibility.
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However, you may consider working with your tax advisor or the state tax authority directly to determine if your business has any other ongoing tax remittance or reporting obligations in these jurisdictions.
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This month only, sign up for Seller Labs PRO, use the code SUCCEED, and save 30% off 6 months of your subscription! That’s enough of a discount to get you through the rest of 2021. If you’re new to Seller Labs PRO, you’ll also still receive a free 30-day trial. Talk about savings!
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Promo code valid through June 30, 2021 11:59 pm EDT
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Search Term Impression Share & Brand Category Benchmark Reports In Amazon PPC
Amazon came out with two brand-new reports. One is for both Sponsored Products and Sponsored Brands, while the other is exclusive to Sponsored Brands.
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- Search Term Impression Share Report
- Brand Category Benchmark Report
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Quick tips and rumors:
- Amazon might start allowing CBD products soon.
- If you ship your own products do not include websites or ask for a review on the inserts. Amazon is on a tangent with this, although I'm not sure how they would find out.
- Restock limits should improve in July...just a rumor.
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BuyBotPro
BuyBotPro is not that well known, but it is the software we use to source our products on Amazon. We tested it against others for accuracy in sales estimates and other things and it was the best of all the ones we tried. They even have it available for mobile, so that when we are sourcing in stores, we have all the info we need to make buying decisions. It even helps with manual sourcing and can tell you the most you should pay for a product in order to get the profit you specify.
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BuyBotPro is the first fully automated FBA calculator, online arbitrage & wholesale analysis tool. The extension analyzes thousands of data points to score deals from 1 – 100. As well as being an FBA calculator and a buying assistant, it checks eligibility, hazmat, private label status, competitor stock, and estimated sales. There is no need to pay for Keepa when you use this tool as it is built-in.
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- Automated Deal Analysis & Buy Decisions: 7-second results.
- ROI & Profit Checker: Tells you how much you'll make after fees, taxes, etc.
- BSR Checker: Tells you what percentage of BSR your product is (Top 1%, 3%, 5%).
- Competition Analyzer: Analyzes your competition for you.
- IP Radar: Checks for the likelihood of it causing an Intellectual Property violation on your Amazon account.
- Private Label Checker: Checks for the likelihood of it being a private label product.
- Hazmat Checker: Automatically checks if the product is hazmat.
- Eligibility Checker: Tells you if you can sell the product.
- Suggested Purchase Quantity: Tells you how many units to buy.
- Amazon Fees Breakdown: This tells you exactly what your Amazon fees will be.
- Buy Sheet Automation: It enters your deals into your buy sheet for you.
- Custom Criteria: Tell BuyBotPro what ROI, BSR & PROFIT you're looking for.
- Profit Margin Calculator: Shows true ROI after fees.
- Sales Estimator: See the number of sales for a product for 30 days, 90 days, and predicted 90 days.
- Buy Score & Reason: Get a score on whether to buy and the reason for the score.
- Competition Analysis: See at a glance the Top 10 Sellers, their estimated stock levels, and their price.
- Variation Feature: At the click of a button see all variations for that product.
- Sales History Charts: Awesome charts showing you FBA Price, New Price, Amazon Price, and Sales Rank for 7 – 360 days and all opening in large windows for super easy at a glance information.
- MF and FBA Fees: Toggle between fees for selling FBA and Merchant Fulfilled.
- Sales Heatmap: Check sales velocity at a glance with a heatmap showing intense sales and slow periods.
- BUY BOX Sharing Analysis: Get an instant visual answer as to whether Amazon shares the buy box.
- Manual Sourcing Tool: BuyBotPro is also an awesome Manual Sourcing Tool allowing you to easily search via a right-click for matching products on Amazon straight from the Retailer/Wholesaler page. BuyBotPro can even analyze your deal from their page too.
- BUYBOTPRO Mobile: Get the full power of BuyBotPro in your pocket, wherever you go, 24/7… with the new mobile app for Apple iPhone and Android phones. Scan products wherever you shop offline. It is included FREE with every subscription.
- And so much more…
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