The Amazon up-sell scene at a Whole Foods store cracks me up. It’s an interesting read on the real reasons behind the recent Amazon-Whole Foods deal. Being a former hardware engineer, I am fascinated with the possibility of building my own Amazon Echo. Before Artificial Intelligence (AI) takes over many human jobs, Amazon is deploying a hybrid model: hiring more human laborers and growing its robot force. The upcoming “Nike selling directly on Amazon” explains why many Amazon sellers received Nike ASIN restriction notices not too long ago.
“What does this have to do with business?” you may ask. On a much smaller scale in general, Amazon sellers are constantly bombarded with money-making ideas, trends, promotions, webinars, and so on. Although it’s part of the game, you need to develop and practice discernment and not blindly fall for shiny objects. Also, data doesn’t lie. That’s why I like the method of PPI (Proven Performance Inventory) in my approach to creating private label products.
It was 6 a.m. at a nearby Starbucks when I spotted the news on a New York Times newspaper. I immediately recalled the Uber incident that went viral back in March. In just three short months, Travis fell from grace. Success has its own risks indeed. On the journey of growing my business, I am reminded that success in business is only part of my life.
This is great news for Amazon consumers, but it could be a headache for Amazon 3rd party sellers. Although the program is still in beta, and it remains to be seen how 3rd party sellers can take part in it, there are a couple things that come to mind. While the clothing sales velocity will go up, the return rate might go higher than shoes. Speaking of which, would shoes become part of the same program later on? Hmmm… Amazon must have hired more people to handle all the returns. The returned clothing will unlikely be in very good packaging condition, and that would mean more returns heading back to sellers for inspection and repackaging. Let’s wait and see and then adapt.
I am a Tactical Arbitrage (TA) user, and I love how it’s constantly evolving to be better. In this particular case, I like the way some of its partners (Shawn Mayo & Bob Steele) responded to the inevitable changes.