Last week in Seattle, JumpFly had the incredible opportunity to attend Amazon’s flagship event, Amazon Accelerate, and we are thrilled to share the groundbreaking announcements that are set 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 expand their businesses like never before.
AI Steals the Show
Artificial Intelligence was clearly the star of the event. AI will soon be integrated into nearly every aspect of Amazon’s business. From content creation and compliance checks to video and image generators, it’s clear Amazon is going all-in on AI. A few standouts include:
- Project Amelia: Amazon’s new AI-powered selling assistant promises to revolutionize seller account management. Keep an eye out for its launch; it could be a game-changer.
- Business Planner AI and Custom Analytics: These tools will provide deeper insights into Amazon businesses, helping us make more informed decisions faster.
Supply Chain by Amazon
One of the most exciting highlights was the expansion of the Supply Chain by Amazon. This all-in-one solution simplifies operations and optimizes inventory placement, leading to faster delivery speeds and an average sales increase of 20% per Amazon. Hundreds of thousands of sellers are already benefiting from these services, with the adoption of multiple services tripling in the first half of 2024.
The fully managed option for U.S. sellers automates the entire supply chain process – from pickup to Amazon fulfillment. Sellers simply provide product details and pickup locations, and Amazon handles the rest, including carrier pickup, inventory consolidation, and strategic replenishment into fulfillment centers. The fully managed option will be available to all U.S. sellers for domestic pickups in October and global pickups by the end of the year.
Multi-Channel Distribution Enhanced
Amazon Warehousing and Distribution (AWD) has also upgraded its Multi-Channel Distribution capabilities. Sellers can now utilize custom labeling, allowing for bulk distribution of products across various sales channels—including other marketplaces, wholesalers, distributors, and physical stores. By consolidating inventory in AWD, sellers can reduce total stock needs, resulting in significant savings and prevention of stockouts, which, in turn, drives more sales.
Embedded Third-Party Apps in Seller Central
Amazon is enhancing workflows by allowing sellers to access and utilize third-party apps directly through the Seller Central interface. Later this year, Amazon plans to test the embedding of these apps, enabling sellers to access their preferred tools – both on and off Amazon – within a single, personalized portal. This integration is set to enhance efficiency by centralizing business management needs.
Buy with Prime and Multi-Channel Fulfillment: Expanding Opportunities
Buy with Prime and Amazon Multi-Channel Fulfillment (MCF) released several enhancements aimed at improving both merchant and shopper experiences. These updates are designed to help businesses of all sizes increase their sales within Amazon’s store and on other platforms.
- Expanded Payment Options with PayPal: Starting next year, sellers will be able to offer Prime shopping benefits directly through the PayPal checkout. 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 Buy with Prime-enabled items. These tools provide expanded reach and targeted advertising options to attract more customers.
- Shopify Updates: Improved integrations mean 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 states orders through merchants’ sites have increased by over 45% year-over-year, resulting in an average 16% revenue increase per shopper. Additionally, MCF now serves over 200,000 U.S. merchants, with a 70% year-over-year increase in total orders fulfilled.
Amazon Shipping Mobile App: Empowering Sellers on the Go
In response to the growing need for mobility and flexibility, Amazon introduced the new Amazon Shipping mobile app. This app allows sellers to:
- Schedule pickups directly from their own warehouses
- Oversee inventory across multiple warehouses
- Receive real-time updates on delivery vehicles
- Access customer support from anywhere
With integrations to over 50 commonly used shipping software partners, the app simplifies logistics management, making it more efficient and accessible.
Veeqo Profit Analyzer: Real-Time Profit Tracking
Understanding profitability is crucial for business growth, and Amazon’s Veeqo Profit Analyzer addresses this need with an all-in-one dashboard that tracks profits in real time. It provides detailed breakdowns of key costs, including shipping expenses, product costs, fees, and advertising spend. Sellers can analyze profits from Fulfillment by Amazon (FBA), seller-fulfilled orders, and other sales channels, 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 launch operations in Arizona after a successful test phase in Texas, promising deliveries in as little as 13 minutes. This could significantly impact delivery times and customer satisfaction.
Final Thoughts on Accelerate 2024
Amazon Accelerate 2024 showcased a suite of innovations that are set to empower sellers like never before. From AI advancements to simplifying the supply chain, expanding payment options, and enhancing seller 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, sellers are well-positioned to reach new heights. Leverage these new AI tools to maximize your growth potential.
