Let’s face it folks, 2022 was nuts.
We started the year with COVID supply chain issues that carried over from the previous year. Russia invaded Ukraine, which led to a disruption of global trade. We had midterms that didn’t go exactly as predicted, inflation took off, and we ended the year in a constant threat of a looming recession.
But even with all this, we made it to 2023.
In this episode, Shannon and I recap the events of 2022 and their impact on Amazon and Amazon sellers and predict what’s to come for 2023.
Will Amazon Stop Buy Box Suppression?
Amazon won ecommerce, but its success and size are creating problems for them. Will this be the year that Amazon finally relinquishes its power to small businesses, which are the backbone of the American economy?
One of the practices that Amazon sellers have long complained about is Buy Box Suppression. Due to their dominance of ecommerce, this practice raises prices across the entire internet. They have been sued by the California AG, and 2023 might just be the year they stop this harmful practice.
“If sellers can’t offer a lower retail price for the same product, they’re selling on Amazon, on Walmart, because their fee structure is less, and that’s raising prices on the internet. That’s not good for consumers or sellers. And it’s really bad for competition.” Jason Boyce
How the Looming Recession Will Impact Amazon Sellers
But without a doubt, the biggest issue for 2023 is the threat of a looming recession. Many sellers and brands are worried about what this means for their business.
Having been in this game for more than 20 years and gone through the great recession, this is not the time to be afraid. This is the time to get ready to pounce by keeping your growth mindset.
Some of your competitors who are looking at this the wrong way will wither away and die. It’s your chance to eat into their market share. Some of the biggest well-known brands in the world started and became famous during a recession because they didn’t give in to it.
Tune in to this episode to hear our predictions on what’s coming up for Amazon and Amazon sellers and how best to take advantage of upcoming opportunities.
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