Before you head out, make sure you check out the latest Weekly Retail Roundup! This week, we’ll cover updates on Amazon’s FBA reimbursement policy, Temu’s challenge to Amazon and eBay, DoorDash’s impressive growth despite US restaurant traffic slowing, Alibaba’s innovative new AI tool and Pacvue’s 2024 Prime Day Benchmark Report.
Amazon Cuts Claims Window for Lost, Damaged, & Returned Items
Amazon has announced updates to its FBA reimbursement policy that will take effect on October 23. These changes will reduce the timeframe from 18 months to 60 days to file reimbursement claims for lost, damaged, and returned customer products.
How Pacuve Can Help
With the latest changes, sellers now face the challenge of reduced time and increasingly restrictive deadlines to manually file reimbursements for affected claim types. This makes an automated solution essential for efficiently submitting claims.
Pacvue’s Revenue Recovery service provides the automation you need to file claims swiftly and accurately. Our AI-powered services identify and resolve Amazon charge discrepancies, saving your team valuable time, improving task efficiency, and ensuring all claims are filed on time, maximizing your profits and reducing profit leakage.
Additionally, Revenue Recovery covers what Amazon’s auto-reimbursement process misses, including managing Co-op Discrepancies, Invoice Shortages, Price Claims and Chargebacks.
Let Pacvue handle the complexities for you. Click here to request a demo and discover how Pacvue can help.
Temu Has Entered the Ring
Despite Amazon’s large monthly active user base of around 139 million, low-cost competitors like Temu and Shein are gaining ground by increasing user engagement. Temu, with over 78.5 million users, sees its average user spending about 24 minutes daily on its app – more than twice the engagement time of Amazon users. This success is linked to the gamification of shopping, which encourages frequent app usage. While Amazon maintains its lead in online retail, challenger brands like Temu and Shein pose a significant threat by fostering higher engagement levels among their users.
DoorDash Reports Record-Breaking Growth Despite Slow Traffic in US Restaurants
DoorDash reported record-breaking growth in orders and revenue for the second quarter, despite a general slowdown in U.S restaurant traffic. The company saw a 19% increase in total orders, reaching 635 million, surpassing analyst’s expectations. Despite declining US restaurant demand due to inflation, DoorDash continues to grow, especially in delivery sales. Tony Xu, CEO at DoorDash noted that digital sales at restaurants are increasing even though in-person traffic is decreasing. DoorDash has also expanded its platform by adding even more restaurants and establishing partnerships with non-food retailers like Ulta Beauty and Lowes.
Alibaba Announces New AI-Powered B2B Sourcing Tool
Alibaba has introduced a new AI-powered conversational sourcing tool to improve its B2B marketplace services. This tool is designed to convert natural language queries into professional sourcing requests, anticipate sourcing needs, and offer suggestions. The engine aims to efficiently and accurately match business buyers and sellers, aiming to level the playing field and reduce costs, enabling SMEs to become significant players in the global supply chain.
Pacvue Insider
Wait, Prime Day 2024 isn’t over yet! Our 2024 Amazon Prime Day Benchmark Report has just been released, offering brands a detailed analysis of Prime Day advertising performance in the US and European markets, including top search terms and insights into major product categories.
Key Findings:
Ad Spend Increased 28.7% year-over-year on Day 1
Patio, Lawn & Garden CPC Increased 47% year-over-year
Sponsored Product Ads took 78% of the share in the US and 77% in the EU
The report includes in-depth data and benchmarks, giving you the tools you need to evaluate your performance and understand the latest industry trends. Download your copy here!
