Top 5 Amazon News – June 2018
The world of Amazon is huge and to help you stay updated, we have 5 Amazon News every month. With less time and so much to manage, we understand being an Amazon Seller is a busy task and hence we help you know about the latest happenings in the world of Amazon Repricing, New Updates, New Launches and the like – all of it on one blog – vreprice.
Let’s have a quick read about some news from the month of June 2018.
Amazon Wholesale – the B2B arm of Amazon has witnessed an increase in its turnover by 2,700 times in FY16-17, recording $1.08 Bn (INR 7,000 Cr) worth sales in FY 16-17, recording a profit of $413.7K profit in FY-17.
Has the change in e-commerce guidelines led to this huge number raise? Read all about it here – https://inc42.com/buzz/amazon-india-b2b-arm-records-413-7k-profit-in-fy17/
Amazon India today launched its Seller Lending Network (SLN), which will allow sellers on the e-commerce major’s platform to seek loans from multiple third party lenders. Amazon India has partnered with organizations like Aditya Birla Finance, Bank of Baroda, Capital First, Capital Float, Flexi loans, and Yes Bank for the lending programme.
Read more about their endeavor to make the end-to-end process quicker and convenient, allowing sellers to focus on their core business and grow – https://www.moneycontrol.com/news/business/amazon-india-launches-seller-lending-network-2589771.html
Even as Flipkart and Walmart address Competition Commission of India (CCI) and income tax compliances, global ecommerce giant Amazon continues to focus on solidifying its position in the market with another cut in its seller fees. It is also gearing up for the 30-hour Prime Day sale.
Read about the strategy in detail – https://inc42.com/buzz/amazon-gears-up-to-take-on-walmart-flipkart-with-lower-seller-fees-and-prime-day-sale/
Amazon is making changes to its team behind the scenes and has also been working for some time on standardizing the products, tools and services that they offer to the brands and resellers on their platform.
The change already reflects how customers likely see the brand. Read how – https://www.businessinsider.in/Amazon-merged-2-of-its-most-important-teams-and-it-reflects-a-huge-evolution-for-the-company/articleshow/64739973.cms
Amazon is now cracking down on third-party sellers who are using their warehouse space without moving any stock. It has begun scoring third-party sellers with an Industry Performance Index.
Read about the score system and how Amazon intends to deal with the seller’s excess stock – http://fortune.com/2018/06/30/amazon-warehouse-stock/