Etsy Scams, Amazon Surpasses eBay in the Australian Marketplace, eBay Fee Raises, and More News
Explanation:
We fact-check all of our content to ensure you have reliable and up-to-date information for your eCommerce business decisions.
Learn about our fact-checking process.
Hi folks! The weekend is finally here, and we hope you’re ready to unwind after a hectic week, especially with the Super Bowl happening this Sunday. Before you do that, don’t forget to catch up on last week’s eCommerce news, where we talked about Amazon’s EU regulatory hurdles (and other important things). Alright, without further ado, let’s jump right in.
Today’s news is 1508 words.
Watch Out for New Etsy Scams
Etsy sellers are falling victim to a recurring scam, with perpetrators posing as the platform itself to deceive users into divulging sensitive information or sending money.
What should you look out for?
The scam typically involves fake messages appearing authentic, prompting sellers to verify their accounts. One unfortunate seller recounted her experience, having lost a significant sum after a scammer misled her into opening a new account and transferring funds.
Despite such incidents, awareness remains insufficient, though some sellers are sharing their stories to help others recognize and avoid similar problems.
The lack of awareness persists, as evidenced by sellers like the one who shared her ordeal, expressing frustration at getting tricked.
However, her openness in discussing the scam on the Etsy forum may serve as a cautionary tale for fellow sellers.
Another seller highlighted a different scam tactic, advising vigilance against fake buyers requesting unnecessary information. Even standard anti-fraud measures, like avoiding suspicious emails and independently verifying messages, may not suffice, given the evolving sophistication of scammers.
So, what does Etsy have to say about these scams?
Etsy has acknowledged the issue, offering tips to sellers and implementing features like the “From Etsy” section in messages to help users discern genuine communications.
Nevertheless, the threat persists, prompting sellers to consider the security of their online ventures.
As one affected seller contemplates shutting down her shop, citing the prevalence of malicious actors, the community grapples with the impact of such scams on their livelihoods and overall trust in online marketplaces.
What does it mean for eCommerce sellers?
eCommerce sellers need to keep their eyes open at all times and always double-check when providing sensitive information. These days, especially with the help of AI, even the most cautious among us can fall victim to fraudulent schemes. Stay safe out there, folks.
MORE: Etsy Fee calculator
Big Retailer News
Amazon Surpasses eBay in the Australian Marketplace
To some, it may come as a surprise; to others — maybe not so much. This week, we come to you with official news: Amazon has overtaken eBay to secure the leading position in Australia’s marketplace landscape.
The latest research from Pattern, a global eCommerce accelerator, underscores this milestone, revealing Amazon’s rise to dominance.
Marketplace shopping has firmly embedded itself in Australian consumer culture, with a staggering 93% of people having shopped in a marketplace in 2023. An even higher 94% plan to make purchases from platforms like Amazon, Catch, Temu, and eBay in the upcoming year.
The Australian marketplace sector is undergoing a period of rapid expansion and disruption, with emerging platforms like Temu and Shein quickly gaining ground. These newcomers have captured significant market share, while established players like Catch and eBay have experienced underperformance.
Amazon’s projections indicate a turnover of $5.5 billion in Australia by the end of the current financial year.
Boasting the highest average monthly site visits among all marketplaces, we can attribute Amazon’s success to its competitive pricing, extensive product range, and user-friendly shopping experience via Prime membership.
As Australian consumers face cost-of-living challenges, eCommerce shopping habits are evolving to accommodate changing economic realities. Despite these pressures, the expectations for flourishing online retail are high, with the eCommerce market projected to reach AU$64.14 billion this year. However, consumers are likely to adjust their spending behaviors, seeking ways to stabilize their budgets.
The evolution of product discovery sees a decline in reliance on Google’s product search, with marketplaces like Amazon becoming more popular research destinations, offering transparency and credibility through real-world product reviews and informative content.
What does it mean for eCommerce sellers?
Sellers should consider diversifying their presence across multiple marketplaces to capture a wider audience. While Amazon’s dominance presents a significant opportunity, emerging platforms may offer less competition and access to niche markets.
MORE: Check out these intuitive and time-saving Amazon seller tools and services
New Chatbot for Amazon Shoppers
Have you heard of Rufus?
Amazon’s cutting-edge consumer chatbot leverages artificial intelligence to offer personalized shopping assistance, marking a significant step towards enhancing the customer experience.
With Rufus, users can engage in a conversational manner, asking questions about products, checking customer reviews, and seeking community insights on various consumer needs, all within Amazon’s vast product catalog.
Rufus’ strength lies in its ability to guide customers through their shopping journey seamlessly. From general inquiries like differentiating between trail and road running shoes to specific queries about durability, Rufus streamlines the process of finding the perfect products tailored to individual needs.
Integrated directly into the Amazon shopping experience, Rufus promises to revolutionize how customers interact with the platform, making product discovery easier and more intuitive.
Currently in its beta phase, Rufus is gradually rolling out to select customers in the US via Amazon’s mobile app, with plans for wider availability in the near future.
As users engage with Rufus, they can expect thoughtful explanations and tailored product recommendations, further enhancing their shopping experience.
What does it mean for eCommerce sellers?
Rufus offers a more interactive shopping experience, potentially increasing customer engagement on the platform. Sellers should ensure their product listings are comprehensive and up-to-date to maximize the effectiveness of Rufus’s recommendations.
MORE: Online Marketplaces in the UK
Also in the News
- UPS introduces Saturday delivery services for residential addresses in Canada. eCommerceBytes.
- Amazon to reduce package waste. Omnitalk.
Valentine’s Day News for Sellers
- Amazon’s New Shopping Filter. ChainStoreage.
International Retailer News
Amazon Fashion Europe Partnership
Get ready for a new Amazon partnership.
Hardly Ever Worn It, the renowned luxury resale platform founded by entrepreneur Sharon Wolter Ferguson, has officially partnered with Amazon.
Thanks to this collaboration, Hardly Ever Worn It is establishing a digital storefront on the Amazon platform, catering primarily to European consumers in the UK, Italy, Spain, and Germany.
The partnership expands Amazon’s luxury offers, including items from prestigious fashion houses like Prada and Chanel. Hardly Ever Worn It will fulfill and dispatch the orders.
Ruth Diaz, Vice President of Amazon Fashion Europe, expressed excitement about the partnership, highlighting the company’s dedication to enhancing its luxury segment by incorporating pre-owned goods.
By including the curated selection by Hardly Ever Worn It, Amazon will be able to connect with its diverse customer base more while providing accessible luxury options.
Tatiana Wolter Ferguson, CEO of Hardly Ever Worn It and successor to her mother, Sharon, emphasized the significance of collaborating with Amazon Luxury Stores.
She views this as a pivotal moment that elevates the visibility of luxury resale, underscoring the platform’s commitment to democratizing high-end fashion.
By leveraging Amazon’s extensive marketplace, Hardly Ever Worn It aims to make circular fashion more accessible to a broader audience, ensuring more individuals can experience the thrill of luxury resale.
What does it mean for eCommerce sellers?
Amazon’s expansion into luxury resale with prestigious brands like Prada and Chanel may increase consumer interest and trust in purchasing high-end goods online. This could create more opportunities for sellers specializing in luxury items or considering entering this market.
MORE: Online Marketplaces in Southeast Asia
eBay UK Fee Raises for Jewelry Category
eBay UK is implementing a substantial increase in commission fees for the jewelry category, which is set to take effect on March 7, 2024.
Currently, sellers are getting charged a final value fee of 12.9% for items up to £450, along with a 30p per order fee. However, under the new structure, this fee will rise to 14.9% for items up to £1,000, maintaining the 30p per order charge.
This change signifies a significant adjustment in eBay’s fee structure for jewelry sales.
Notably, the additional tranche fee for sales above £1,000 will double from 2% to 4% of the total sale amount.
It’s important to note that while this fee hike specifically targets the jewelry category, there will be no increase in final value fees for the Watches, Parts & Accessories subcategory.
With only a month’s notice before the fee increase takes effect, sellers are now faced with the task of reevaluating their strategies to navigate the impact on their margins.
Some sellers may opt to adjust their pricing accordingly, while others may explore alternative approaches to maintain profitability in light of these changes.
The eBay UK forums have already become a hub for discussions among sellers regarding the implications of this fee hike, indicating the significance of this adjustment within the eBay seller community.
What does it mean for eCommerce sellers?
To counterbalance the higher commission fees, sellers may need to reconsider their pricing strategies. This could involve increasing the prices of their jewelry items, which might impact customer demand and competitiveness.
Also in the News
- Temu opens its platform to US and European sellers. RetailTouchPoints.
- Vodafone experienced a decline in sales in Europe. Mail Online.
- Alibaba to withdraw from brick-and-mortar retail. Pandaily.
Webinars
For everyone
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Amazon Prime Day preparation, sponsored products, sponsored brands, reporting, optimization, and other tips.
Learn more: Amazon.
For US sellers
February 14: The Amazon and Retail Media Summit. Learn more: Tinuiti
For UK sellers
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Amazon Prime Day preparation, sponsored products, sponsored brands, reporting, optimization, and other tips.
Learn more: Amazon.
Leave a Reply