New features launched on Amazon.com! Sellers: Very good

As one of the world's largest cross-border e-commerce platforms, Amazon is constantly introducing new policies to improve its work processes in order to enhance its competitiveness among major platforms.

Recently, Amazon US has made a new move. In order to make it easier for sellers to manage their account funds, Amazon US has launched a new tool called Amazon Seller Wallet, which has been well received by a large number of sellers. Currently, the tool is only open to a small number of sellers by invitation, and will be launched on various sites after it is improved.

More freedom in fund management? Amazon.com launches new feature for sellers’ wallets!

On July 26, Amazon US announced that it will launch a new tool, Amazon Seller Wallet, for sellers to provide sellers with a simpler Amazon global sales experience.

Amazon said that the newly launched payment solution provides sellers with a simple and easy way to manage their funds. Sellers can hold and view Amazon store revenue according to their own plans, or transfer revenue to their own bank accounts. These operations can be completed in the Seller Center in the future.

In addition, there is no fee to register for Amazon Seller Wallet, and account maintenance is also free. Sellers with international bank accounts can convert US dollars into any of 19 supported currencies through Seller Wallet. When sellers convert and transfer funds, certain currency conversion and international transfer fees will be charged.

Currently, this new tool is open to a small number of Amazon sellers by invitation only. Amazon said that after collecting seller feedback and improving it, the feature will be open to more sellers. Amazon also plans to build more features through the seller wallet, such as third-party payment and foreign exchange rate tools.

Amazon Seller Wallet is one of the many payment options, financing opportunities and fund management tools Amazon provides to sellers, which can ensure the security of sellers' transactions and information. This is also one of the few policies recently launched by Amazon that is supported by sellers.

Under this announcement, unlike the usual complaints after Amazon’s new announcements, there are many voices of support from sellers.

Seller A: Please, we really need this. The percentage paid to the third party is too high for us, and we need Amazon to transfer this amount directly into our USD account, and I can’t wait.

Seller B: I think this is a great idea that should have been implemented years ago. From the announcement, it looks like this tool will collect all your money from foreign Amazon marketplaces and put it into a "wallet" that can be exchanged at will. Even if there is a small fee, it is very useful.

Seller C: At least let us know when the invites will be sent out . I ca n’t wait any longer.

Amazon staff added below the post: After the payment is completed, the funds in the seller's wallet are available immediately. If the balance in the seller's wallet is positive, the seller can pay from the seller's wallet account multiple times a day.

However, this tool will not speed up the pace of Amazon payments. That is to say, if sellers currently receive funds from Amazon every 14 days, after using Seller Wallet, they will also receive payment in the Seller Wallet once every 14 days.

Of course, there are also some skeptical voices under the new announcement. Some sellers believe that this new tool is very beneficial to international sellers, but it is not very useful for American sellers with American bank accounts.

Some sellers also question the security of funds, believing that if the funds are stored in Amazon seller wallets, Amazon can find reasons to lock the money in the account. Some sellers said: If there are violations in the operation process, the funds in the seller wallet can basically be said goodbye.

But overall, Amazon Seller Wallet is a new tool worth looking forward to for international sellers who abide by Amazon's operating rules. It means that third-party sellers on Amazon can gain more control over the management of their own funds. I hope Amazon can do a better job when it officially launches this tool.

In addition to funding issues, inventory management is also a top priority for sellers. While launching a new tool for seller wallets, Amazon US also reminded FBA sellers to update their aging inventory.

Be aware that aging inventory is at risk of being disposed of!

Due to the particularity of FBA warehousing, how to manage inventory well and clear out backlogs in a timely manner has long been a problem that has plagued Amazon FBA sellers.

Especially affected by the epidemic in the past two years, some sellers took advantage of the dividends of online sales and began to stock up in large quantities. However, the sales on the Amazon platform this year were not satisfactory, which led to more serious inventory backlog problems for some sellers.

On July 26, Amazon US issued the latest reminder regarding this situation: aging inventory that is not set up in accordance with the rules will be automatically disposed of.

Amazon defines aging inventory as items that have been in a fulfillment center for more than 365 days and are subject to long-term storage fees . It also includes ASINs that have not been sold for six months or more and have been in a fulfillment center for more than 180 days.

Amazon mentioned in the announcement that in order to prevent the automatic disposal of aging inventory, sellers need to switch to the automatic deliverable inventory setting and choose to return, liquidate or donate the backlog of inventory .

Sellers need to complete the following steps, otherwise their aging inventory will be at risk of being disposed of:

Opt out of automatic removal of deliverable inventory ;

Configure the Auto Deliverable Inventory settings to " Return expired inventory with a valid return address ".

In addition , if the seller has aging inventory and has not updated the removal settings, Amazon will notify you via email and Seller Center . If the seller does not provide a return address, the overstocked aging inventory will be automatically donated, recycled or disposed of.

Sellers must pay attention to this reminder from Amazon. After all, the overall environment of Amazon in the past two years has not been optimistic. Some sellers have even been in a state of loss for a long time. If the inventory is recycled or donated for free, it will be a huge loss.

In fact, many sellers are now in the stage of clearing inventory at a loss, including some of the top sellers. Huading shares revealed in its annual report that due to the impact of the Amazon incident, Tongtuo is actively looking for offline sales channels to clear unsalable inventory in order to speed up inventory turnover and further optimize the management of local and overseas warehouses.

For sellers, the most common way is to clear inventory at low prices through big promotions. Currently, Prime Day has passed, and the back-to-school season is about to usher in a sales peak. Facing a new round of promotions, sellers must seize the opportunity and strive for a counterattack!

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