Tag Archive | "Amazon"

How advertising rates vary by category on Amazon

You need to gain a thorough understanding of search terms for Sponsored Products and Sponsored Brands from a volume and margin perspective to bid to value effectively on Amazon.



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Offense or defense: The secrets to bidding on brand terms on Amazon Advertising

Testing strategies to capture shoppers’ attention on a crowded shopping channel can have benefits beyond increasing paid conversions – it can boost organic sales as well.



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Report alleges Amazon manipulating search results to boost its products, profit

The company said to give its own products “preferential treatment in search.”



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3 Trends from Prime Day 2019 to guide your Black Friday and Cyber Monday Amazon strategy

Sellers focusing budget and discount efforts on specific, strategic product lines, rather than an entire catalog, are likely to see the biggest sales bumps.



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Verishop CEO On Competing With Amazon: “It’s Not a Zero Sum Game”

“The market narrative is always it’s a zero-sum game,” says Imran Khan, co-founder and CEO of Verishop, a new Amazon competitor launching soon. “You are coming in and it’s Verishop versus Amazon or Snap versus Facebook. Those are great stories, but ultimately I fundamentally believe that all of us are on the right side of the history in a sense. Not one company will take everything. It’s just impossible for one company to solve every problem.”

Imran Khan, co-founder and CEO of Verishop, discusses how the Verishop shopping platform can compete and win market share from Amazon and others in an interview on Bloomberg Technology:

There’s a Lot of Opportunity to Innovate in Ecommerce

Ecommerce is now only 9 percent of the overall retail market. I believe that over the next decade 30-40 percent of all retail will be online. There are actually not that many consumer choices when you look for buying branded products, having a better experience, or having a better way to discover products. We think there’s a lot of opportunity to innovate. In markets like China, for example, where 25 percent of the market is ecommerce there are many more players in China compared to the US. So I think that’s a better way to bring joy in the consumer mind when they’re trying to buy things.

In my time at Snap I noticed that millennials like to do more research before they buy something. They also care about responsibility in terms of shopping. They care about economy and sustainability. If you as a consumer, for example, want to buy sustainable products where do you really go? So we have a lot of different ways of discovering products. On our platform, we’ll have around 200 different attributes that consumers can use to find products. I’m really excited to bring in a new way of shopping to consumers. The market is very large and I think it can accommodate a lot of players.

As Ecommerce Grows Not One Company Can Solve Everything

I really admire Amazon and I’m a shareholder of Amazon personally through my fund. However, I think as ecommerce goes from 10 percent to 40 percent, not one company can solve everything. Amazon is also a juggernaut. They do software, they do a lot of different things. Again, I really admire the company but there are a lot of parts of ecommerce that are not being addressed by existing players. I think we can bring that. For example, discovery, we know that because ecommerce is still very much intent based I think we can give consumers a lot of different ways to discover new products.

The key thing to keep in mind is the time spent on mobile device is only going to grow. The market narrative is always it’s a zero-sum game. You are coming in and it’s Verishop versus Amazon or Snap versus Facebook. Those are great stories, but ultimately I fundamentally believe that all of us are on the right side of the history in a sense. People are spending more and more time digitally and as people spend more time digitally there will be a lot more new businesses. Not one company will take everything. It’s just impossible for one company to solve every problem. Facebook does a great job with Instagram and Snap has done a great job with camera. I think one will be bigger and the other smaller, but only time will tell. But I think both can co-exist very well.

Verishop to Focus on Trust

We are going to launch in late June or early July. You will see our commitment in four areas. Number one is trust. Most of the ecommerce players are marketplaces. When you’re in a marketplace where anybody can go list something or anybody can post something the platform is prone to counterfeit and fraud. We saw that with eBay we saw that with Facebook with the Russians and we saw that with Talbot in China. What we’re doing is we’re acquiring all the product directly from the brands by guaranteeing that everything you’re buying is real.

Trust is going to become an important topic on the internet. Over the last 25 years, the internet was built on the premise of an open platform and we saw that when everything is open and there are no rules it brings chaos. We solve that at Verishop by sourcing all of the products that we are sourcing directly from the brands to ensure that they are real.

The second key thing (that distinguishes) the Verishop platform is discovering new products. Again, ecommerce is very much intent-based, so we are giving consumers more choices to discover products through a lot of different ways that you will see. Our third focus is we’re going to continue to make a big commitment on convenience. I know Amazon and other companies do this it but we’re going to continue to do so by offering free shipping, free return, all those kind of things. We’re excited and it’s just the beginning. It takes a long time to build a business and hopefully we’ll continue to bring new products and new innovation to the platform.

Verishop CEO Imran Khan On Competing With Amazon: “It’s Not a Zero Sum Game”

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More signs that Amazon is attracting bigger search ad budgets

CPG brands, in particular, are investing more in Amazon ads, but the marketplace is still a long way from catching Google and Facebook.



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Key considerations for achieving success on Amazon

Expert tips for making the most of Amazon’s advertising offerings and factors to manage before you even get started.



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Leveraging Amazon search ads in a time of rapid change

Amazon’s advertising offerings are getting more sophisticated, presenting marketers with new opportunities and complexities.



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What Amazon Advertising’s big 2018 advancements will mean for 2019

The e-commerce giant’s ad business continued to grow as it made significant updates to its advertising systems and capabilities.



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Western Union CEO on Amazon Partnership: Buy Globally and Pay Locally

Western Union has partnered with Amazon to white label their cross-border money transfer platform. “Amazon engaged us to use our platform to service their customers in a better way in order to give access to the millions of customers who don’t have an access today to buy online and pay,” said Hikmet Ersek, the CEO of Western Union. “In the future, they will have the capability to buy globally and pay locally.”

Hikmet Ersek, President, CEO, Western Union, recently discussed the new partnership with Amazon, competition with Zelle and Vinmo, and the overall health of the business:

Western Union Digital Business is Growing Very Well

Our digital business is growing very well year over year. We are now in 50 countries with our digital business sending money to over 200 countries. We pretty much cover the world with digital. Our digital growth is very strong. Our retail money transfer business has been stable. In some countries, we have been a little bit slower like in the Middle East, but we had very strong growth in Europe and US outbound business. Our US domestic business has been a little bit slower than we thought. Generally, I would say that we had a very stable solid quarter and we are very excited about the future.

You Can’t Send Money From Your Mobile

US to Domestic there has been some competitive environment. Nothing changed like last quarter. We have certain customers that like to pick up cash immediately. Nobody can beat that. You can’t send (cash) money from your mobile. We pay out in cash immediately. There are also competitors like Zelle and Vinmo who have been capturing some market share there with their zero fee environment. That has definitely been US dominated but is only a small part of our business, seven percent of our revenues. We are more focused on the outbound business, global cross-border business. That has been growing very well.

Western Union is White Labeling Platform to Amazon

Amazon has engaged us, over the years we have been building a cross-border platform, which is unique. We are moving transactions in 132 currencies globally and we do about 32 transactions every second. We have a network of 550,000 locations. We are reaching out to about 4 billion accounts globally. This is a unique platform where today we serve our customers with this platform.

Companies like Amazon engaged us to use our platform to service their customers in a better way in order to give access to the millions of customers who don’t have an access today to buy online and pay. In the future, they will have the capability to buy globally and pay locally.

The Amazon partnership is for us very exciting because now suddenly we are opening our platform to new customer segments, white labeling to other organizations like Amazon. Today, we are serving our existing customers with our branded transactions. In the future, we will be able to serve huge organizations like Amazon, or Amazon will engage us with other organizations, to engage our platform and to use our platform to serve their customers.

Paying Amazon Has Been a Real Obstacle for Some

“There are people in the world who want greater access to Amazon’s huge product selection but paying for those purchases has been a real obstacle for many customers,” said Hikmet Ersek, president and CEO of Western Union. “We’re leveraging our money movement platform to make it easier to shop global and pay local. By facilitating the complex foreign exchange and settlement process, we’re opening up more consumer choices and access to online shopping for tens of millions of potential new Amazon customers.”

Forrester Research estimates that cross-border shopping will make up 20% of e-commerce by 2022, with sales reaching $ 630 billion. Choice, quality and cost are the main motivations for consumers to shop online from overseas, but there are challenges and concerns about the lack of payment options for consumers who prefer to pay in person or consumers who are not comfortable using online payment methods.

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