2023 is coming to a close, and what a year it’s been for Amazon sellers! From Andy Jassy’s cost-cutting measures to the rise of TikTok Shop, there’s been no shortage of change and disruption.
In this episode, Shannon and I discuss our January predictions of what would happen in 2023 and take scores based on what we got right and wrong.
You know, when I look back at this year, our crystal balls were a little foggy, but we gave it our best shot. Predicting the twists and turns of the eCommerce world is no easy feat. We did okay, though.
Tune in to this episode to hear how we did with our predictions and what we expect going into 2024!
“The evolution at Amazon in 2023 was remarkable. The surge in tools, data, and support for sellers is something I hadn’t seen before.”
Jason Boyce
Andy Jassy’s Profit-First Focus
While we initially expressed concerns about Andy Jassy’s cost-cutting approach at the beginning of the year, the reality proved us wrong. Amazon delivered record profits, demonstrating a shift towards financial sustainability without sacrificing significant growth. This highlights Jassy’s ability to balance both priorities, potentially marking a new era at Amazon with a renewed emphasis on growth and profitability.
Acquisitions and Antitrust Predictions
Interestingly, Amazon’s acquisition spree continued, encompassing both healthcare and logistics (as predicted), despite our concerns about increased antitrust scrutiny. The FTC filing a lawsuit and the ongoing IRobot investigation in the EU illustrate the escalating antitrust challenges Amazon faces. This could significantly impact future acquisitions and reshape the eCommerce landscape.
Influencer Power and the Rise of TikTok
Both Shannon and I acknowledged the growing influence of influencers on product launches at the beginning of the year. While Amazon’s own efforts, like Creator Connections, are still nascent, platforms like TikTok demonstrated phenomenal influencer-driven success.
This trend underscores the need for Amazon to adapt and potentially incorporate external platforms like TikTok into its influencer marketing strategy. Additionally, Nobody could have predicted the rise of TikTok Shop, and even though they are miles behind Amazon when it comes to logistics, their growth is noticeable.
Final Thoughts
2023 was a year of surprises and unexpected turns for Amazon and the eCommerce landscape. Even though our crystal balls were foggy, one thing is clear: adaptability is the golden ticket for sellers, brands, and anyone navigating this dynamic ecosystem.
Tune in to this episode to hear how we did with our other predictions and the lessons we can take from 2023!
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