Welcome to RepricerExpress’ weekly round-up of the top five stories from the world of Amazon and ecommerce.
Jeff Bezos described the four qualities of a ‘dreamy’ business offering, and broke down exactly why projects like Prime have been so successful: Mark Adabi at Business Insider UK reports that for Amazon CEO Jeff Bezos, a good opportunity has four qualities, which he outlined in his annual letter to Amazon shareholders in 2014. “A dreamy business offering has at least four characteristics. Customers love it, it can grow to very large size, it has strong returns on capital, and it’s durable in time — with the potential to endure for decades,” Bezos wrote. Continue reading…
How this 32-year-old makes 6 figures selling other people’s stuff on Amazon and eBay: Zack Guzman at CNBC reports on the story of Mike Meyer, a six-figure professional reseller on Amazon and eBay. A Long Island native, Meyer has been flipping other people’s discarded belongings to make money since he was 15, when he bought a model ship for $5 at a yard sale and sold it for $65. The windfall inspired him to resell full time. Now, he estimates his business spends roughly $5,000 buying inventory every month — mostly through police auctions, liquidations and abandoned storage sales — that he’s able to turn around for nearly $15,000 on average per month. Continue reading…
Amazon changes prices on its products about every 10 minutes — here’s how and why they do it: Neel Mehta and Parth Detroja at Business Insider UK reports that Amazon changes product prices 2.5 million times a day, meaning that an average product’s cost will change about every 10 minutes. How do they do it? Simply put, Amazon has tons of data. With all this data, Amazon analyses customer’s shopping patterns, competitors’ prices, profit margins, inventory, and a dizzying array of other factors. Amazon also raises prices on uncommon products. Continue reading…
Another retailer lands a deal with Amazon: This time, it’s Party City: Lauren Thomas at CNBC reports that another retailer is tying itself up with Amazon. This time, it’s Party City. In tandem with reporting second-quarter earnings, the retailer on Thursday said it would be rolling out a pilot program on Amazon ahead of the Halloween season this year. Party City will offer an assortment of items on Amazon to start, but with a big focus on Halloween costumes, the company said. Continue reading…
Amazon ‘considers’ setting up insurance comparison site in UK: Reuters at The Guardian reports that Amazon is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the US online retail giant into Britain’s financial services. Three industry executives said they had talked with Amazon about the possible launch. One said talks were part of several discussions Amazon was having with insurers. A second said there were no imminent launch plans. Continue reading…
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