Amazon News for Sellers: Hello, Amazon! News, highlights, and more in The Recap.
AUGUST 6, 2020 | EDITION 012
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Hi, Sellers! This week all the news is about Amazon! Let's dive in! First, Amazon crushed it during last week's earnings call. That was no surprise, given that so many consumers shifted to online shopping during the pandemic, but they went well beyond expectations:
Amazon's earnings per share was $10.30 vs. the $1.32 analysts expected.
Net sales increased 40% to $88.9 Billion in Q2 2020, compared with $63.4 Billion in Q2 2019.
Amazon's stock has soared nearly 80% since its low in March.
Over the past 12 months, Amazon has shown a total return of 55.6% compared with 9.5% for the S&P 500.
And, throughout Q2, Amazon invested heavily in multiple areas, such as:
COVID-19 infection management ($4 Billion): supporting front-line employees ($500 Million).
Investing in communities by donating millions of masks, thousands of contactless; partnering with food banks and schools to deliver millions of meals to seniors and families across the U.S.; launching fun, interactive initiatives for kids through Camp Prime - free for Prime members.
Empowering Small and Medium-Sized Businesses through investment, support initiatives, and more.
Protecting the planet by launching The Climate Pledge Fund with an initial $2 Billion in funding to help support companies working towards a zero carbon economy.
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Earlier this week, and after earnings were reported, Jeff Bezos cashed out on some of his Amazon stock. He sold another $3.1 Billion in shares bringing his 2020 stock sale total to $7.1 Billion (so far) and he is still sitting on 54,000,000 million shares.
And, last but not least, Amazon's first Prime Day kicks off today in India and there are a few changes due to the ongoing pandemic. Customers can still find the great discounts and deals on hundreds of exclusive products, as well as new product launches and special cash back offers, but much of the promotion is being done virtually this year instead of at a central location - all part of the new reality of safety during a pandemic. It's also encouraging to see that Amazon UK is providing tips and pointers to UK sellers. It will be interesting to see how this first Prime Day goes elsewhere and how it might impact Prime Day here in the U.S.
What are your top concerns as a seller these days? Drop us a note and let us know.
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NEWS FOR SELLERS
RETAIL DIVE
In 2019, Amazon provided $15B in tools for third-party sellers and created other initiatives to support SMBs. Now, in a new report, they look at the impact and top states for those sellers.
THE VERGE
The name might be changing, but Prime Gaming will still offer the same benefits including exclusive in-game content, free games a free monthly Twitch subscription.
JUNGLE SCOUT
Amazon sellers must carry liability insurance at a certain number of sales. The folks at Jungle Scout take a look at Seller insurance requirements for FBA business owners & how to protect yourself.
TIMES OF INDIA
India's Amazon Prime Day was a huge success. Surpassing estimates by as much as 33%! Great news for Amazon Sellers in India and possibly for future Prime Day's elsewhere in 2020.
CHICAGO TRIBUNE
Working with mall developer Simon's and bankruptcy courts, Amazon is apparently considering repurposing stores from J.C. Penney and Sears to use as fulfillment centers.
THE VERGE
On Thursday, a California appeals court ruled that if you purchase a defective third-party product on Amazon in California, Amazon may be responsible. The California Fourth District Court of Appeals reversed a prior court ruling and reinstated claims for a woman who says she suffered third-degree burns from a defective laptop battery solid through a third-party seller on Amazon that caught fire.
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