Learn How Amazon Selling Will Evolve in the Next 5 Years
Have you secured your Amazon business for the future? According to CMO.com, online commerce will be valued at $2.485 trillion by next year. Experts say Amazon will be a huge part of this world.
In the ever-changing world of Amazon e-commerce, nothing can be reliable. So many things that are considered norms today will not be relevant 5 years’ on, which is why you need to make sure your business is flexible enough to absorb these changes.
In this blog post, we reveal what these changes are and what you can do to prep for them.
Data Will Be More Important Than Ever Before
With the industry changing so quickly, it will become increasingly important to cling to some level of predictability and stability. In the world of Amazon, that’s data.
According to CMO AMZInsight, “In 2021, Amazon would’ve changed a lot. However, tracking, monitoring and predictive analysis will still be here. You’ll still need to track keywords – even if they don’t look like what they look like now. There will still be a need to look into the future, which is why Amazon software like AMZInsight will be so important. It’s also why we’ve made our tool flexible to make sure it changes with the changing face of Amazon.”
Amazon May Change Payment Methods
For Amazon, the customer will always remain the priority. In accordance with this policy, they may change payment methods in the future. Right now, their payment method is mostly the same for all, making it convenient for Amazon sellers.
However, to accommodate customers, they may look to offer personalized, flexible and various forms of payment methods. Inc. com claims that a “buy now, pay later” option may be something Amazon considers (with an official payment time, of course). Coupons and discount codes may be applied to products automatically. So, make sure you’re tracking your price with AMZInsight and are keeping it at a point where you can easily change it without much notice.
Amazon May Introduce Fingerprint Identification
Taking cue from the aforementioned change, Amazon may simplify customer experience by requiring fingerprints to confirm ID, instead of credit card numbers. This could also become a payment method in the future.
Of course, this may not affect you as a seller. Amazon may enable fingerprint ID for sellers, too. If this happens, you’ll have to be prepared to adjust your payment methods and buy a device with fingerprint scanning enabled – especially if you prefer to work from a desktop.
You’ll have to Prepare for Faster Shipping
You must have heard by now that Amazon’s testing drones for 30-min deliveries. Not just that, Amazon is actively working to reduce delivery time, offering same-day shipping and Prime Now.
With faster shipping at the forefront of Amazon’s customer experience improvement, the day isn’t far where Amazon may require sellers to offer same-day shipping. There are many sellers who take at least a week to deliver their goods, especially those who don’t employ Amazon. If you’re one of them, you need to step up now, because Amazon can, in the near future, suspend you for not adhering to same-day shipping.
To offer same-day shipping, you can employ Amazon’s shipping services; FBA selling for Amazon sellers. This will easily secure your future because you’re essentially keeping up with what Amazon’s offering.