I am back from 3 months of maternity leave and have spent the past couple of weeks catching up on all the Amazon news. Being Amazon, there was a lot! But reviewing Amazon’s Q1 results last week was a good way to get a synopsis of what’s been happening at the world's fastest growing e-tailer.
1. AMAZON AUSTRALIA
As an Australian, a subject near and dear to my heart is Amazon’s impending launch in Australia. Last week Amazon published a landing page inviting interested brands to apply to sell on the platform. And industrial property agents have recently confirmed that Amazon has signed a lease deal for a large purpose-built warehouse in Sydney's Eastern Creek. There are many unanswered questions about Amazon’s launch in Australia and I will be covering this subject in a lot more detail in an upcoming video & blog series. Make sure you subscribe to our channel or blog to learn more.
2. BUFFETT MESSED UP
If you’ve ever made a poor investment decision, don’t feel too bad - Warren Buffett admitted last week that he was 'too dumb' when he passed up a chance to buy up shares of Amazon, and that he 'really underestimated the brilliance of the execution.
It’s not the first time that investors turned their nose up at Amazon’s wild plans. Jeff Bezos (CEO) was considered crazy by investors with his idea for Amazon Prime. Free, 2-day shipping was not just unheard of, it was considered a sure way to sink the company. Now, 2 decades on, the model has more than proven itself with an estimated 70% of high-income US households and 50% of US households overall having Prime membership.
3.ETSY LAY OFFS, CEO OUT
Vintage & handmade marketplace Etsy is having a rough time of it at the moment. CEO Chad Dickerson will be replaced and 80 staff (about 8% of the workforce) will be laid off in a cost-cutting move. Etsy is one of the big marketplaces in the US & UK, but performance has been underwhelming since its IPO in 2015.
It's good to be back! Let me know what Amazon has been doing lately that has you puzzled or excited. Until next week's round of Amazon Seller's Week in Review, join us in our private community for brand owners and Channel Managers on Facebook: Amazon Chanel Mastery for Brands. We share insider tips about e-commerce and selling on Amazon.